Investment management firm Wave Financial said Friday it has received its first round of investment from clients, and has purchased a 1,000 barrels of Kentucky whiskey it plans to tokenize for prospective investors.
According to a press statement emailed to CoinDesk, Wave Financial purchased the whiskey from the Wilderness Trail Distillery of Danville, Ky., and plans to tokenize the holding in a year or two.
Gold, cryptocurrency and real assets such as spirits have become favored alternative investments, according to the company. By tokenizing barrels of whiskey, in this case, investors gain exposure to, and benefit from, price appreciation of that asset.
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