15/10/2021 – Beverages / NFT / Glenfiddich / Scotch / Whisky / Spirits / BlockBar
Glenfiddich to be first partner to release rare whisky via NFT with BlockBar
Glenfiddich, the world’s most awarded Single Malt Scotch Whisky brand, has partnered with BlockBar, the premier non-fungible token (NFT) marketplace for luxury wine and spirits products, to launch a series of 15 limited-edition liquor NFTs.
Each NFT corresponds to a physical, exceptional bottle of a 1973 46-year-old Armagnac cask finish Single Malt Scotch Whisky that is sold by Glenfiddich.
How it works
The tokens are offered exclusively through BlockBar’s innovative NFT platform, which enables Glenfiddich to digitise and sell exclusive spirits products as NFTs directly to consumers, whether for personal consumption, collecting, or investment purposes.
Upon purchasing the NFT, the buyer can then become the owner of the real-world physical product represented by the NFT, with the NFT serving as a digital receipt that verifies the buyer’s ownership and the authenticity of the product.
The buyer has the choice at any time to resell or transfer the NFT through the BlockBar platform or to redeem it for the physical version. However, the benefits of purchase don’t stop there; BlockBar is also responsible for storing the product and, upon request, delivering it to the buyer.
Pushing the boundaries of whisky innovation
Commenting on the partnership, Doug Bagley – Chief Commercial Officer at William Grant & Sons – noted: “Glenfiddich continues to push boundaries in whisky innovation and this mind-set transcends to those we partner with.
“We are proud to be the first luxury spirits brand to be available on BlockBar at the time of the launch,” he enthused. “BlockBar brings a heightened level of authenticity to our brand via its proprietary NFT platform, and creates an elite club of distinguished collectors with whom we’re excited to build long-term relationships.”
Security – and vintage – assured
Utilising BlockBar’s state-of-the-art NFT platform to purchase Glenfiddich’s whisky, buyers can be assured that their accounts won’t be compromised and their NFTs won’t be stolen, because the tokens are protected by FireBlocks’ digital asset custody infrastructure and Chainalysis’ compliance technology.
“This is an exceptionally rare example of 1973 Glenfiddich – a 46-year-old whisky which has spent more than two decades in an Armagnac cask – and it is a fitting spirit for the launch of Glenfiddich’s first and exclusive NFT release on BlockBar,” remarked Glenfiddich Malt Master, Brian Kinsman.
The first series of Glenfiddich NFTs will launch on 19 October 2021 on a ‘first come, first served’ basis. Buyers may purchase the NFTs from Blockbar with Ethereum (ETH) or by credit card.
Bridging the physical and digital worlds of luxury
“BlockBar values transparency, authenticity, and quality assurance, and our partnership with Glenfiddich, the pinnacle of high-end spirits, is the perfect partner to mark the launch of our mission to bridge the physical and digital worlds of luxury,” said Dov Falic, CEO of BlockBar.
“We’re extremely proud to be providing the very first direct-to-consumer, fully authenticated wine & spirits platform via an NFT marketplace,” he continued. “This is an exciting and momentous time for the crypto, NFT, and luxury wine & spirits communities – and we can’t wait to announce many more exclusive releases in the near future.”
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