The new Whiskey distillery on the Faroe Islands wants to raise capital through cryptocurrencies

The new Whiskey distillery on the Faroe Islands wants to raise capital through cryptocurrencies

The founders of a new distillery in the Faroe Islands have decided to raise capital among crypto investors as well.


11 Oct 2020 , 11:19 @ Katie Müller

The new Whiskey distillery on the Faroe Islands wants to raise capital through cryptocurrencies

The founders of a new distillery in the Faroe Islands have decided to raise capital among crypto investors as well.
Faroe Islands

If you are a fan of Whiskey and cryptocurrencies Faer Isles Distillery has prepared a unique opportunity for you. According to The Spirit Business, the proposed distillery wants to increase the capital needed for construction and thus comes up with two ways in which investors can get involved in financing.

Investors are either members of the Founders club or can use their security token offering.

  • The Founders Club is a part of the first phase of fundraising and offers members a number of rewards that include special edition bottles or offers for exclusive tastings.
  • STO is part of the second phase of crowdfunding, which is due to start later this year.

Faer Isles Distillery STO will allow people to invest in a company through stocks that are traded directly from a licensed issuer using a cryptocurrency.

For those who want to invest through cryptocurrency, the online platform Digishares will serve as a payment gateway to be able to buy these shares.

Faer Isles Distillery is thus likely to become the world’s first cryptocurrency-funded whiskey distillery in the world.

The distillery will stand on a 23,000m² plot and Whiskey production at the Faer Isles Distillery is stated to commence in 2023.

Read also: The Biggest Peer to Peer Borderless Blockchain Education Initiative in the World

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