The blockchain based lifestyle investment platform TEND is forming a partnership with Cult Wines, a global fine wine investment company.
Through the new partnership, creation of co-ownership portfolios of fine wines will be established. It will also offer members the opportunity to invest in a portfolio of wines, with a target return of over 10% per annum, as well as a chance for unique tasting and other lifestyle experiences.
Tom Gearing, Cult Wines managing director said: “Cult Wines believes in fine wine as a genuine alternative asset class, which provides significant diversification benefits from mainstream financial markets”.
Cult Wines was founded in London in 2007 by Phillip and Tom Gearing, since then they have expanded into Asia Pacific by opening offices in, Hong Kong, Shanghai and Singapore. It provides fine wine investment advice, both on a discretionary and non-discretionary basis by using algorithmically based models applied across historic and projected data.
“Not only can the sector provide consistent, double digit returns but appeals as an enjoyable, collectible and tangible asset. We are delighted to be partnering with TEND who share those values, and whose technology platform brings a fresh approach to alternative investment opportunities,” said Gearing.
TEND was founded by Marco Abel who previously, was the chief digital officer for Credit Suisse. TEND’s aim as a business is to change the attitudes and values of the contemporary consumer who values experience and purpose over ownership.
Abele added: “TEND’s partnership with Cult Wines brings the best of both to a new audience, via our app and market leading platform which utilises distributed ledger technology at its core.
“What we’ve learned over the past year is that it’s absolutely not just about a financial return, it’s much more about an emotional return. TEND members will soon be invited to exclusive, themed tasting events, hosted by Cult Wines, where they will enjoy special vintages amongst fellow enthusiasts”.