The Faer Isles Distillery crowdfunding STO on the Ethereum Blockchain

The Faer Isles Distillery crowdfunding STO on the Ethereum Blockchain

By Mozzie | Crypto Aficionado | 11 Oct 2020


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Be a part of whisky history by becoming a member of this ambitious whisky start-up. Faer Isles Distillery may be the first whisky distillery on earth to allow crypto currencies as a means of funding.

The Faer Isles Distillery is set to open a 23,000m² facility on the Faroe Islands, land that is next to the beautiful viking village of Kvívík, in 2023.

In order to accomplish this goal the Faer Isles Distillery will be crowdfunding through a Security Token Offering. STOs are similar to an IPO (Inital Public Offering) as it allows people to invest in a company.

The biggest difference is that the tokenised shares (ERC-20 tokens) will be traded via a digital blockchain platform (Ethereum) instead of the more traditional stock exchanges. A method that is becoming more common among start ups.

With that said using crypto currency will not be the only way you can participate in the crowdfunding later this year to buy shares in the company. You can still use US dollars, Euros and Danish krone as well. Using crypto currency is only an option among others.

Traditional financial securities such as stocks and bonds are increasingly moved to the blockchain infrastructure due to the many benefits of this technology. The main benefits are that shares and bonds are digitized, and the online trading of these digital securities becomes possible without relying on any middlemen that charge you. The World Economic Forum predicts that 10% of the global GDP ($7.8 trillion) will be stored on the blockchain by 2027.


I cant talk about a whisky distillery and not mention the whiskey.

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For the small price of €200 you can become a lifetime member of the Faer Isles Founder's Club.

Faer Isles Founders’ Club reward package:

  • 1 bottle (50 cl) of Faer Isles Founders’ Club Edition Gin – infused with Faroese seaweed.

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  • 1 bottle (20 cl) of Faer Isles single malt new make spirit with a cube of carefully selected oak for home maturation.

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  • 1 bottle (50 cl) of Faer Isles First Edition 3-year-old whisky (delivered after 3 years of maturation)

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Mozzie
Mozzie

After getting into Cryptocurrency Mining in 2017 i've been obsessed with all things Crypto/Blockchain.


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