Metacask launches Trakr, the spirits industry’s first end-to-end inventory management solution

LONDON. October 2022 - Metacask, the marketplace for spirits-backed NFTs, announces the launch of Trakr, the first fully integrated inventory management, asset tracking, and marketing solution for spirits producers and brands. From grain to bottle, Metacask’s latest product uses blockchain technology to provide a level of digital documentation that hasn’t been achievable using centralized databases.

Behind every premium spirits bottle or cask should be a certified process that records everything from raw materials, refining, and bottling, to logistics and distribution. This real-time data and the traceability of this data are necessary for an intelligent ecosystem that producers, brands, and regulatory authorities need to ensure an authentic and transparent experience. Existing solutions are siloed into three separate categories: inventory management, asset tracking, and marketing. 

Metacask’s Trakr eliminates these walled gardens and provides an end-to-end inventory management solution. Trakr starts by documenting all ingredients, materials, processes, and energy usage on the blockchain. The physical casks and bottles are then given a unique digital identity using smart technology – a near-field communication (NFC) chip – linked to tokens on the blockchain. Brands can then use Metacask’s marketplace, which offers a streamlined platform for the sale and re-sale of spirits. 

The blockchain becomes a trusted and transparent source of data that collectors can access using any smartphone to find out everything about a bottle or cask’s creation as it passes through the supply chain. Producers can modify the state of these assets and can track their lifecycle even after the sale. Blenders will also have the ability to save, search, and reproduce blend profiles. And because Trakr is an automated system, it removes manual reporting and compliance processes so that regulators can easily monitor and ensure compliance in terms of duty paid, ownership of bonded assets, and verification of goods scheduled for export. 

In addition, this solution opens doors for deeper customer engagement. Collectors will be able to redeem the linked tokens to receive delivery of the physical asset, authenticate the liquid, view its full story, and have an immutable record of ownership. At the same time, producers will be able to try their hand at direct marketing by targeting customers with on-chain offers.

“We’ve designed Trakr with the spirits industry in mind,” said Nimantha Siriwardana, Co-Founder and CTO of Metacask. “It’s an opportunity to streamline supply chain processes, save costs, and maximize operational efficiencies. On top of that, it’s a chance to show customers that are interested in a specific bottle or cask everything from the information that the harvester gathers down to the unique label designed for the item. The amazing part is that this solution is so versatile, any luxury goods business can use it to improve transparency between stakeholders and their consumers. It’s a chance to truly  revamp the way products are managed from start to finish, even beyond the spirits industry.”