Capital markets News

Warsaw Stock Exchange involved in rum tokenization project

dictador rum

The Capital Group of the Warsaw Stock Exchange is developing a tokenization platform. Today the luxury spirits company Dictador announced plans to tokenize 60,000 liters of vintage rum and sell them as digital assets on a new digital exchange.

Dictador describes itself as unconventional, pointing to creating collector editions of rum by collaborating with contemporary artists such as Lalique and M-City. Perhaps it’s more unorthodox to have artificial intelligence run the company. The company’s website claims to have appointed an AI CEO. 

The Polish stock exchange has not yet announced the project, but according to Dictador, the exchange group is developing a marketplace for the tokenization of non-financial assets. The Warsaw Stock Exchange holding company has a diverse group of subsidiaries covering equities, derivatives, bonds, commodities and post trade solutions.

Dictador reckons that the tokenization of 60,000 liters of rum is the equivalent of 100,000 bottles and projects a valuation of €100 million for the project. It claims its collection of 35-40 year old rums is one of the rarest rum reserves in the world. 

It’s not Dictador’s first blockchain project, as it was involved in NFTs through collaborations with artists Lalique and Orlinski in 2021, which it sold on the BlockBar platform. Unlike those NFTs involving artwork, the current tokenization project relates to rum stored in large barrels.

Meanwhile, in Germany the Deutsche Börse and Commerzbank created the joint venture 360X, which is launching a secondary market for tokenized real estate, art and music.

Image Copyright: Dictador