In partnership with BlockBar, an NFT marketplace for luxury wine and spirits, Glenfiddich will be pairing its rare whisky with NFT artwork for its next limited release.
The brand will be launching 15 limited-edition NFTS, each tagged to a physical bottle of a 46-year-old single malt whisky. The NFT will act as proof of ownership and authenticity of the physical bottles, which are held on behalf of the buyer in BlockBar’s Singapore facility.
Each bottle will be sold for US$18,000. Successful buyers will receive an artistic impression of the bottle in the form of an NFT and they can either choose to hold the NFT for potential resale, or cash in the NFT to receive the physical version of the whisky.
The Glenfiddich whisky, according to the distiller, features rich and fruity tones and spent 20 years in an Armagnac cask to get its distinct flavour.
Will Peacock, global luxury director at William Grant & Sons which owns Glenfiddich, believes there is a significant opportunity for luxury products to discover new audiences through NFTs.
“We hope to reach a new audience of digital-savvy investors who are interested in investing in whisky. We also hope this is of interest to our loyal existing rare spirits collectors, who will appreciate the rarity of this Glenfiddich whisky,” he said in a statement. “Finally, we think this might be of interest to crypto skeptics as they might see a benefit of purchasing an NFT with a redeemable physical bottle of rare whisky directly from our brand, which they recognize and trust.”
Since BlockBar’s debut on October 13, Glenfiddich is the first luxury alcohol brand to be sold on the platform.
The first series of Glenfiddich NFTs will launch on October 19, available for purchase via credit card or Ethereum (ETH).
This partnership isn’t the only recent one in the alcohol industry; Chivas announced a collaboration with French Maison Balmain earlier this month, featuring two limited-edition bottle designs. The collection is a fusion of heritage and innovation and embraces the shared vision of the two houses.
In related NFT news, Beeple’s US$69 Million artwork will have its first authorised display at Dreamverse in New York coming up very soon on November 5. It is the world’s first NFT-focused art, music, and technology festival. It is also the world’s first authorised display of “Everydays: The First 5000 Days”.
For more alcohol reads, click here.