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The section describes the creation of the world's first wine-backed cryptoasset. 

Why are we doing this?

  • We want to use the market to decide the price of our wine, and by doing so, open a debate about the value of wine.
  • We want to create an easy metaphor for the understanding of cryptocurrency,  cryptoassets, and to become a reference point for people talking about bitcoin, blockchain, etc.

To accomplish these two primary objectives, we need:

  • A platform to enable people to buy, sell, and trade our cryptoassets.
  • A shopping cart where the tokens can be "spent" for wine.
  • A very simple and elegant explanation of the process.
    • What is cryptocurrency or cryptoasset?
    • How does the token lifecycle work?
    • How do I get a wine token? (MTB18)

Who will be anticipate will be buying/selling our wine tokens: 

People interested in immediate wine delivery:

  • Importers
  • Distributors
  • End-customers

Deferred wine delivery:

  • Cryptocurrency traders
    • Future speculation on an increased price.
    • Novelty buyers.
    • People or companies gifting wine to others (friends, customers, loyalty programs, etc.).
    • Current cryptocurrency users who are looking for a more stable parking space for their assets.
  • Costaflores providers

How does it work?

  1. Someone interested in acquiring an MTB18 token connects to the ICO landing page. This page describes the project and the process.
  2. The page instructs the user on how to install the google/firefox metamask plugin and create/import the wallet.
  3. We ask the user, "Do you already own ether?" If the answer is YES, we give them instructions for sending ether against the ICO smart contract.
  4. If the answer is NO (the user does not currently own ether), we tell them that either they can acquire ether here, or we give them the option of buying MTB18 tokens directly from Costaflores. 
  5. The cost of the MTB18 tokens is based on a) the estimated COST of the bottles for Costaflores, and b) the price as it is relative to ether during the ICO.

So, initially, the only way people will be able to purchase MTB18 tokens will be through the Costaflores ICO page. Of course, information about this will be linked from as well. Just to be clear, the site is dedicated to explaining the OpenVino project, it's members, and the details (wiki) of the project and open-source information. Costaflores is where the ICO "occurs" and is, in effect, "Powered by OpenVino").

In the future, people will be able to purchase MTB18 tokens two additional ways:

  1. on cryptocurrency exchanges, and
  2. from an app that will be developed  

Create a Landing page where people can leave mail address, announcing soon as possible.

Emi and Mike will write up the text for the landing.

  • How wine quality (and value?) changes over time.
  • What are the milestones for the Costaflores Openvino implementation?

It is critical that the tokens be sold on an exchange. Without this, there can be no market driven price fluctuations. Emi is working on gathering experience from other ICO owners to see how they went about positioning their tokens on exchanges.

The initial coin offering (ICO)

The ICO will take place on the 6th of May, 2018. This date is important because it is at the beginning of May, when the 2018 wine making campaign will be finishing, i.e. the wine fermentation has mostly finished, and we have a pretty fair idea about how the vintage will look. In other words, by early May, we have the wine in the tanks, though they still need time to evolve. And, not coincidentally, it is Mica Vera's birthday (and Matt Bell's).

These are the prerequisits for the ICO.

  1. Marketing and social media strategy.
  2. The ICO landing page.
  3. Video and animation materials.
  4. Prereq. to have the communication strategy by then: Mike (Jacqueline, Mica, Amanda, etc.). 

Estimated time for token contract, ready by 1 April.

Fede will provide detail about this timeline. (by 1 Feb)

We have the option of releasing magnums from 2017, as an independent ICO, for testing the shopping cart, and you-drink-it-you-own-it costaflores token stage.

Functional requirements for the Landing Page 








Open-Source app link to github


Explanation for MTBxx token


Countdown ticker to moment of sale is open

Photo and description of team members

Link to openvino wiki

Link to Social networks (twitter, medium, telegram)

Connection to the smart contract to show amount available for purchase, amount sold
Link to video tutorial on how to use 3rd party systems to buy and manage token.

Functional Requirements for Token creation contract




ERC20 Token on the Ethereum platform
Ticker Symbol: MTB18
Decimals of precision: 18
Total Supply: to be defined once harvest is finished.

Functional requirements for crowdsale contract




Token crowdsale contract: Capped, Finalizable and Pausable
Total cap in ether to raise: to be defined once harvest is finished.
Total token cap to create: to be defined once harvest is finished.
Initial token fund balance: to be defined once harvest is finished.

Functional requirements for the shopping cart







Sell physical products (boxes of 6 bottles of wine), and virtual products (wine tokens). We


Capture the following data from customers: Name, Address, e-mail, Fiscal ID, Wallet ID, Language, purchases.


Present specific production description fields: Text about the wine, weight, packaging information.


The shop should be localized for Argentina, to cover Argentina taxes, etc.

Tienda localizada en Argentina, con sus impuestos, su idioma y su moneda, pero con varios idiomas disponibles como inglés, portugués, francés.


The customer should be able to select the languages: English, Spanish, Portuguese, and French.

Poder mostrar precios con 2 decimales (por ejemplo para ARS, EUR, USD, etc) o 6 o más decimales (por ejemplo el BTC, etc)

4.4.61The customer should be able to select the reference currencies ARS, EUR, USD, to see the approximate equivalent price for the products, although the price for products is defined in ARS.

Payment can be made in BTC and ETH, deposited into HD wallets.

4.4.81Payment for wine vintages =>2018 will be only in MTB* tokens.
4.4.91Payment for tokens and current vintages using credit cards with Mercadopago
4.4.102Payment for tokens and current vintages using Argentine paypal linked to Organic Costaflores S.A.
4.4.111Wine tokens should be for sale to any country in the world.
4.4.121Wine bottles (boxes of 6) should be restricted to countries where the wine is available (Argentina, India, Brasil, EU)
4.4.131The checkout process should be as simple as possible (few number of clicks). should comply with the GDPR rules. must require that customers have asserted they are legal to buy wine in their country. should follow the Costaflores look and feel.
4.4.171Data collected in 4.4.2, including data related to the purchase transaction (time, date, etc.) must be synchronized with Openbravo.
4.4.181The site should work properly, both on web and smartphones.
4.4.191Data collected (Name, email, language) should integrate with constant contact for the newsletter.

Functional requirements for the wallet app

Here are some requirements for different versions of the OpenVino app:

Version 1.0 (available before the MTB18 ICO)

  • Register as a nominal user (user name, real name, email address, location)
  • News reader for updates about the Openvino project (blog feed)
  • Time to ICO
  • ICO dashboard info

Version 1.5 (available when MTB18 is listed on an exchange)

  • Price graph of MTB18 token relative to USD.

Version 2.0 (available after MTB18 listing on exchange)

  • App with wallet, 
  • capacity to receive MTB18 tokens
  • can send tokens to other wallets

Version 2.5 (once purchases on an exchange are available)

  • Purchase/sell tokens from exchange

Version 2.6 (after a time when we have an idea of the initial geographical distribution of tokens)

  • Calculate expense of exchanging MTB* for bottles.

Version 3.0 (before 6/May/2021)

Version 4.0 (before 6/May/2021)

YDIYOI release

  • Read QR code on bottle
  • Input serial code
  • Record GPS location, time, date
  • Capture selfie
  • Provide questionnaire
  • Summarize answers
  • Submit to for asset token smart-contract execution
  • Balance for share tokens

Req ID







Buy winecoins.



See the current balance of winecoins.



See the current market price of the winecoins as compared to other currencies in one marketplace.



Share winecoins with someone else by creating a redeem link that can be posted to WhatsApp, Twitter, Facebook.



Send winecoin to an address (another users wallet)



Redeem winecoin for wine:
1. Send winecoin to costaflores wallet. 2. Open shopping cart.



The app has a profile section for users to (optionally) add their contact information.



When users install the app, they will be prompted to fill in their contact information (or skip and do this at a later time).


The user should be able to see the estimated delivery costs for their location (requires that they have completed the profile information).


The user should see a historical graph of winecoin performance plotted against USD.

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1 Comment

  1. Emiliano Velazquez, there seems to be some problem with the imbedded timeline graphic.