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FAQ

For any other questions do not hesitate to get in touch.

  • What does Vaulted do?
    Vaulted allows connoisseurs to collect, trade, and enjoy fine wines without the hassle of shipping on each trade, or managing a residential cellar. Vaulted mints an NFT to represent each specific case. These secure digital certificates let collectors own wines with full provenance and storage history – without any bottle leaving the cellar until the day it is ready to be enjoyed.
  • What fees do I pay if I buy wine?
    As a buyer, you pay the listed purchase price of the NFT as displayed on Vaulted.wine. An additional 3-year storage deposit also applies for each wine in order to keep your wine at perfectly pristine conditions. This storage deposit is R450 per wine NFT - R150 per year for a total of 3 years. This deposit is refunded pro rata if the wine NFT is resold, or the wine redeemed, before the three years have passed.
  • Where is my wine stored?
    Your wine is safely stored in a secure Lourensford Wine Estate vault which maintains ideal cellar conditions (temperature, humidity, and security) for long-term storage of fine wines. A storage fee of R150 per NFT per year applies.
  • Can I redeem my wine?
    Yes. If the moment has finally arrived to crack open that special bottle, it can be physically removed from the vault and enjoyed. Your case can be collected in person by visiting the vault at Lourensford Wine Estate with your NFT in your wallet. Alternatively, you can contact us to organise delivery (additional shipping fees will then apply). There is a 2.5% redemption fee payable - this covers the protocol costs of destroying the NFT and exchanging it for the physical item.
  • Where is my wine NFT after purchase?
    You can view your wine in your wallet under the "My Profile" tab. Here you will be able to view and interact with all the NFTs in your wallet. You have the option of selling your NFT again (by 'listing it' for sale), transferring or gifting it to a friends wallet, or redeeming it at the Vault.
  • How to transfer or gift an NFT
    In order to transfer an NFT in your wallet to another person, choose the NFT you wish to transfer and simply tab "Gift". You will be prompted to enter the wallet address of the person you are sending it to. Ensure that this long code (starting with 0x...) is correct.
  • Can I consign my wine?
    Yes. Individuals and estates may consign cases of wine to the wine vault. Individual bottles may also be accommodated on occasion, for example for historical vintages or magnums. The vault has full autonomy over available capacity, and how to manage the variety of consignments added to the vault. Upon consignment, each case is uniquely labelled, and an NFT is minted that represents that specific case.
  • What kind of wines can be consigned?
    The Vault aims to store wines of high standards. This include fine wines with an ageing potential and those considered a good investment.
  • How do I consign wine to the Vault?
    Simply contact us at info@vaulted.wine and one of our consignment assistants will coordinate to Vault your wine.
  • What fees do I pay to consign wines?
    As a consignee of wine you will receive 88.5% of the list price of your wine. The remaining amount is split up to accommodate for vault storage fees (1%), protocol fees (2.5%) on the blockchain, and Fanfire's fee (8%). The consigning estate can, however, set the wine NFT list price. This allows the cellar to charge retail or premium prices for their wines – particularly for cases of rarer or sought-after vintages. Additionally, 1% of all future royalties will flow to the original consigner. The vault provides 6 months storage after initial consignment, free of charge.
  • What is Vaulted?
    Vaulted is a product of Fanfire.ai, an Enterprise Web3 Solutions firm focusing on providing tailored blockchain services. Vaulted allows its clients to build up wine collections while wines are safely stored in a secure and optimal wine vault.
  • Who is Fanfire?
    Fanfire is part of the Alphawave Group, a leading technology investment group consisting of businesses with products and services that are hard to replicate. The group is headquartered in Stellenbosch and applies South Africa's signature high-innovation-low-cost creativity to concepts with world-wide application. The company is led by the former Research Chair in IoT at Stellenbosch University (who co-founded Custos, an InfoSec blockchain company, in 2013). It is chaired by an industry veteran who has led two JSE-listed companies, and has decades of experience in technology, entertainment and consumer businesses, including one of the largest alcoholic beverage firms.
  • What does Fanfire do?
    Fanfire provides solutions for artists, athletes and businesses who recognise the opportunities presented by the third-generation web (“Web3”), such as cryptographic tokens, web wallets, and loyalty economies. The team has worked with a diverse range of partners such as the Cell C Sharks rugby franchise and Care for Wild Rhino Sanctuary to create new Web3 engagement strategies, and is also involved in digitizing the ownership and trade of collectible wines.
  • Why are NFTs used?
    A non-fungible token or NFT is merely an ownership certificate. In much the same way that a title deed represents the ownership of a house, an NFT is a cryptographically-secured digital certificate that proves ownership of something. It can represent ownership of anything; such as commercial rights (of a movie or artwork), it could represent ownership of a certain privilege (such as VIP access to a sport stadium or event), or even represent ownership of a physical collectable (such as a wine vintage) — the possibilities are endless. NFTs are validated and secured on blockchains.
  • Where are the fees going?
    On the initial sale of a wine NFT, the price breakdown is as follows: · The consigner receives 88.5% of the list price. · The vault receives 1% of the list price. · Fanfire receives an 8% commission. · The NFT trading platform (e.g., Fanfire or OpenSea) charges a standard 2.5% protocol fee to cover blockchain gas fees and other transaction costs. When a wine NFT is resold, a 10% resale royalty is charged, which is standard for NFT resales. The royalty is distributed as follows: · 1% to the original consigner. · 1% to the vault. · 8% to Fanfire as sales commission. A buyer can redeem their wines in person or by ordering shipping (additional shipping fees will then apply). A 2.5% redemption fee covers the protocol costs of destroying the NFT and exchanging it for the physical item.
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