CasperLabs and Metacask Partnership
CasperLabs is thrilled to announce a partnership with Metacask, a premier marketplace leveraging blockchain technology to modernize the high-end whiskey investment market. Together, CasperLabs and Metacask will build the world’s first NFT marketplace for whisky cask investments on the Casper Network.
Through this partnership, the CasperLabs team will assist in developing auction mechanics and other essential functions for the Metacask platform. Metacask selected CasperLabs as its blockchain partner because of its superior performance, enterprise scalability and operational costs, which compare favorably against traditional alternatives. Casper’s proof-of-stake (PoS) model has also proven to be exceptionally energy efficient, with its annual electricity requirements chalking up to a fraction of the excessive usage required by other enterprise-level decentralized networks.
The agreement comes as the NFT market moves into a new phase of growth, in which the NFTs with the highest quality underlying assets will continue to command strong valuations. In addition to seeking out digital collectibles at an accelerating pace, crypto investors are increasingly using blockchain technology to buy tangible assets like whisky, which provides portfolio diversification and inflation-resistant characteristics.
“Metacask is going beyond basic NFT use cases by combining asset-backed NFT technology with auctions on the Casper blockchain,” said Medha Parlikar, CTO of CasperLabs. “The Metacask team is developing an amazing user experience and innovative marketplace for their product, and I’m thrilled to be partnering with them.”
The Metacask platform is expected to officially launch in Fall 2021. Its ultimate aim is to modernize the sale and ownership of whisky casks and deliver transparency in these investments’ provenance, possession and valuation. Their blockchain-enabled platform boasts significant operational efficiencies over the prevailing manual processes for whisky sales and will also focus heavily on setting exceptional security standards, including mandatory KYC/AML checks.
“Our ambition is to build a world-class NFT platform that appeals to both the new generation of crypto-friendly whisky enthusiasts and established investors, who want to see modernization in the way business is done,” said Nim Siriwardana, co-founder of Metacask.
“In that light, CasperLabs was the clear choice for this partnership. By working with an exceptional team and a blockchain network that is high performance, secure and astoundingly energy efficient, we’re now even more confident in our ability to deliver a marketplace to NFT investors that will increasingly value quality above all else.”
About CasperLabs
CasperLabs develops and maintains Casper, an open source blockchain optimized for enterprise and developer adoption.
About MetaCask
Metacask is a NFT marketplace operated by CaskStore AG (hereafter referred to as “CaskStore”). CaskStore is a Swiss stock corporation company whose headquarters is located in Canton Zug and whose identification number is CHE-482.519.405.
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