The NFT craze is now hitting the wine business n a big way. The case in point is Penfolds wines, which is set to launch its second NFT using the BlockBar platform, a leading blockchain marketplace, and which will be tied to 300 bottles, all coming from barrel, of some of their best and rare wines. The wines will not be available for direct purchase at a retailer or at the vineyard but will be held in limited edition gift boxes in Singapore at the BlockBar facility there. There are many other perks depending on the number you buy and how quickly you buy them. When the purchaser redeems his NFT he can receive the physical bottle at that time.
An NFT is a non-fungible token, such as a digital asset that is recorded and traded using the blockchain. This is a great way to draw attention to a product and please you most passionate collectors, so plan on seeing many more of these in the future from Penfolds and other wine producers.
Estimates run for one of these tokens to be more than $50,000 per bottle. This is a major honor for Peter Gago, the master wine master at Penfolds and is set to make special events to honor those who make early purchases.
Therefore start saving your money as the wine is to be bottled in October of 2022.
