Metacask, the online marketplace which allows users to buy, sell and collect investor-grade spirits using the blockchain, has teamed up with crypto payment processor BitPay in a partnership that will allow spirits collectors to buy and store premium casks and bottles more easily using cryptocurrency.
The partnership with BitPay, the world’s largest provider of cryptocurrency payment services, makes it simple and secure to use crypto currencies on the Metacask marketplace when buying any of the rare spirits that are available via auction or exclusive listing. Every Metacask sale comes with a digital deed that proves ownership of an asset, as well as important provenance statistics such as when and where a cask or bottle was created and even when it was last tested by distilleries or experts.
This is stored permanently on the blockchain creating a trail of ownership that is audited and timestamped. This unique way of collecting rare spirits has revolutionised the market for those collectors looking to invest in luxury assets such as whisky, an appreciating asset that’s currently experiencing a huge resurgence in demand globally. Now, with the BitPay partnership, Metacask is making the premium spirits market even more accessible to those using cryptocurrencies.
In a further bid to ensure there are no barriers to purchasing on the marketplace, Metacask will soon support credit card payments and already enables customers to create an account using social logins from Facebook and Google.
What makes Metacask so appealing to collectors is the ability to buy, store and sell bottles and casks, instantly, with valid proof of ownership with digital deeds.
Rob Hollands, CEO of Metacask, said: “We are delighted to partner with BitPay as part of our ongoing strategy to digitise the sale and ownership of premium spirits and make the market more accessible for all. Metacask makes trading investor-grade spirits secure, quick, and verifiable, using NFTs on the blockchain to prove and track ownership. Our goal is to deliver transparency in these investments’ provenance, possession, and valuation.
“The days of slow paper trails are history and the BitPay partnership only advances our goal to make the industry more efficient and accessible. Customers buying through Metacask own the digital deed of a physical cask or bottle, meaning no middlemen, no brokers, and no opportunities for admin errors, missing assets, or duplicate sales. Now with the addition of BitPay on our platform, we’re bringing an additional layer of trust to the market which was previously lacking.”
US based firm BitPay supports leading coins including Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Wrapped Bitcoin (WBTC), Polygon (MATIC), Apecoin (APE), 4 USD-pegged stable coins DAI, GUSD, USDP, and USDC), and 1 EURO-pegged stablecoin (EUROC).
BitPay supports more than 100 different crypto wallets and exchanges including BitPay, Coinbase, Exodus Wallet, Ledger Wallet, Trust Wallet, Electrum Wallet, Blockchain Wallet, Metamask, Gemini Wallet, Kraken, BRD Wallet and more, giving users more flexibility than ever before.
MerrickTheobald, VP of marketing at BitPay said: “Our goal at BitPay is to make accepting crypto a seamless process and increase adoption as we believe crypto is the future of payments.”
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