Tequila For Everybody: Mexican Distillery Gets Blocksquare's Community Greenlight For RWA Marketplace
The marketplace pool of the real estate project Rancho Altos reached its community funding target in less than 48 hours.
Tequila distillery Rancho Altos in Mexico is launching a Real World Asset (RWA) marketplace on Blocksquare following a successful community funding round in just over 48 hours.
The Jalisco-based company has partnered with real estate tokenization protocol Blocksquare to obtain funding for expanding its family distillery business into a sustainable luxury real estate project.
"We are very enthusiastic about keeping the heritage of tequila but working with new technologies that are exciting for our community," said Rancho Altos founder and CEO Marcos Galindo.
And we're done!
— Blocksquare (@blocksquare_io) August 30, 2024
The latest Oceanpoint Launchpad marketplace pool from Rancho Altos has sold out in just over 48 hours.
Congrats to the team and to those DAO members who have lent their support to help Rancho Altos offer tokenized #RWA around their #tequila distillery.$BST pic.twitter.com/tWpXBgm9Lt
Galindo, a third-generation agave grower (agave is the plant used to produce tequila), emphasized the venture's exclusivity during a conversation with Makram Hani last week.
Agave has been cultivated in Mexico for over 3,000 years. While countries such as the U.S. and Australia have recently started to produce agave-based products, certified tequila can only come from one place in the world: the Mexican state of Jalisco, where Rancho Altos is based.
According to Galindo, during the 1980s, the world's leading asset management firms entered the business and changed the market structure from family-based to industrial.
Rancho Altos, however, wants to keep up with tradition, and for that, it is seeking support from OceanPoint's decentralized community and the infrastructural support of the Slovenian-based Blocksquare blockchain platform.
OceanPoint v0.5 launchpad is the protocol's most recent initiative. It was released early this summer, on June 28th. At the same time, Blocksquare announced that it had tokenized $100 million worth of properties from all around the world, including hotels, restaurants, and others.
This is OceanPoint's third project since it launched in early July. The first two were financed in record time.
OceanPoint is an open-ended DAO in which the community fully makes project decisions. The platform's Marketplace Pools allow projects like Rancho Altos to present their proposals to the DAO, which votes on them and commits their staked Blocksquare utility tokens (BST).
If the project hits the full funding target, as Rancho Altos did, it can launch its tokenized real estate marketplace on the Blocksquare White Label platform.
Members Discussion