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Food and Beverage

How will DePIN impact the Food and Beverage industry?

Startups​

Baxus​

BAXUS is the first peer-to-peer Marketplace for buying, selling, trading, and storing your valuable spirits & wine, at the price you want to set. BAXUS is leveraging blockchain and IoT technologies to create a more efficient, transparent, and liquid market for collectible spirits.

Business Model and Background

BAXUS was founded by a professional spirits trader who recognized inefficiencies in the wine and spirits market, particularly in pricing and distribution. Key aspects of their business model include:

  1. Market Inefficiency Solution: BAXUS aims to address price discrepancies and inefficient distribution in the collectible spirits market.
  2. Tokenization of Physical Assets: They tokenize physical bottles as NFTs on the Solana blockchain, representing ownership and enabling easier trading.
  3. Vault Storage: BAXUS provides secure, insured storage for valuable bottles in temperature-controlled vaults.
  4. Real-time Data and Analytics: They offer collectors and traders access to the largest historical dataset of whiskey prices, including private transactions and auctions.
  5. Increased Liquidity: By tokenizing assets and providing a digital marketplace, BAXUS increases liquidity in the traditionally illiquid spirits market.

Tech Infrastructure

  1. Blockchain Platform: BAXUS is built on the Solana blockchain, chosen for its low fees and high speed.
  2. Custom NFT Marketplace: They developed their own NFT marketplace infrastructure to avoid issues with existing platforms, such as volatile pricing in cryptocurrency.
  3. User-Friendly Interface: BAXUS abstracts away blockchain complexities, allowing users to interact with the platform using familiar methods like credit card payments and email logins.
  4. IoT Integration: They use Helium's IoT network for tracking temperature, humidity, and presence of bottles in their vaults.
  5. RFID Tagging: Each bottle is tagged with an RFID for verification and tracking purposes.
  6. Mobile App Integration: BAXUS acquired an app called Boo App to enhance user engagement and provide additional features for tracking personal collections.

Connection to DePIN

  1. Physical-Digital Integration: BAXUS connects physical spirits bottles with digital representations on the blockchain.
  2. Decentralized Infrastructure: They leverage Helium's decentralized IoT network for monitoring their vaults and potentially distilleries.
  3. Real-World Asset Tokenization: BAXUS tokenizes physical spirits, a core concept in many DePIN projects.
  4. Blockchain-Based Data Transmission: They use blockchain for secure, verifiable data transmission about asset location and conditions.
  5. Expanding to Industry Infrastructure: BAXUS is applying their technology to distilleries, potentially creating a more decentralized infrastructure for the spirits industry.

Future Plans and Market Size

  1. Market Size: The fine and rare spirits market is estimated to be between $20-40 billion, with potential for significant growth when including barrel trading.
  2. Key Features in Development:
    • Implementing a bidding system for increased liquidity
    • Integrating the Boo App for enhanced user engagement
    • Developing gamification features to attract both enthusiasts and newcomers
  3. Industry Impact: BAXUS is bringing digital transformation to the traditional spirits industry, potentially revolutionizing how distilleries manage their inventory and how collectors trade rare spirits.