The non-fungible token (NFT) frenzy has extended to the luxury wine and spirits industry. The Dalmore, best known for its Scottish whiskies, has partnered with BlockBar, an NFT platform for luxury liquor brands, to offer a limited-edition liquor NFT with a set of The Dalmore Decades No.4 Collection, the brand said in a Wednesday statement.
- The Dalmore will be digitizing and selling an exclusive set through an NFT directly to a buyer, according to the statement.
- The brand said the asset-backed NFT from the BlockBar platform can guarantee the buyer with authenticity and ownership verification. The liquor will be offered via NFT on Dec. 7 through a lottery and the set will be available for US$137,700.
- The brand is known for its product lineup of luxury whiskies. In October, The Dalmore Decades No.6 Collection was sold at HK$8.75 million (US$1.1 million) at Sotheby’s Hong Kong.
- “With the landmark auction of The Dalmore Decades No.6 Collection [in October] setting new records, the No.4 Collection offered as an exclusive NFT signifies a fantastic opportunity for the crypto-curious to explore single malt whisky as an investment,” Gerry Tosh, private client director of The Dalmore, said in the statement.
- The Dalmore is not the only wine and spirits producer that looks to join the NFT craze. For example, California-based Robert Mondavi Winery plans to offer NFTs that accompany 1,966 magnum-size porcelain bottles, with each expected to sell for US$3,500.
- NFTs could be on the rise in the wine industry given its nature to prevent counterfeiting. High-tech solutions like blockchain are increasingly used to authenticate fine wine and detect counterfeits in China and around the world.