Hot on the heels of Glenfiddich, rum brand Dictador has raised hundreds of thousands of dollars from selling bottles of vintage liquor as NFTs.
Ten bottles of aged rum were sold for $25k (£18.6k) apiece. Buyers received a digital receipt in the form of an NFT which can either be resold or redeemed for a bottle of 1976 Dictador Generations rum in a Lalique’s crystal decanter.
“The purchaser will receive an unrepeatable experience, unavailable in any other way,” said Marek Szoldrowski of Dictador, referencing the fact that the NFT owners will receive tasting notes and an in depth brand history along with their purchase.
The columbian rum company conducted the sale in partnership with Blockbar, a platform which sells wine and spirits as NFTs and recently organised the sale of 15 bottles of 46-year-old Glenfiddich whisky for $18,000 each.
Commenting on the sale, Blockbar’s Co-Founder Dov Falic said, “rum as a category has seen tremendous growth in recent years and has proven to be an emerging sector in the spirits world.
“Few rums make it to this age and we are excited to showcase this exceptional rum in a beautiful Lalique decanter,” he added.
The NFT market has experienced an explosion of interest in recent months with more and more companies diving into the space.
Sales volumes for NFTs grew to $10.7bn in the third quarter of 2021 according to dappradar, an eight fold increase compared to the previous three months.
Crypto exchange Coinbase recently announced that it would be launching an NFT platform with the waitlist for the product swelling to over 1m within a day of opening signalling the products are in high demand.
In the resale market the Dictador bottles are already selling for as much as $36,000.