Zilliqa, a high-performance blockchain platform for next-generation applications, announced that it has tokenized a rare collection of "Casks of Distinction" whiskey, which was previously listed on the Hg Exchange (HGX).
By designating the collection as an asset backed security, Zilliqa has authorized accredited investors to own a portion of this previously illiquid asset. In the future, securities can be sold on HGX for cash. Alternatively, investors can choose to receive a physical delivery of one bottle of whiskey from the base cask for each security they own.
Unique digital tokens will help minimize fraud, which is unfortunately too common in the luxury goods market. The blockchain will also list all the transactions that occurred with each bottle, indicating ownership and transfer, distillery and year of production.