Award-winning whisky brand Glenfiddich is set to toast the current crypto craze by selling 15 bottles of a 46-year-old single malt with exclusive NFT certificates.
NFTs – non-fungible tokens – have skyrocketed in popularity and, while largely associated with digital artworks, can also have use cases as certificates of provenance.
Glenfiddich, keen to ensure authenticity and ownership of its 1973 Single Malt, has partnered with NFT marketplace BlockBar to launch the series of 15 limited edition liquor NFTs.
The Armagnac cask finish whisky was distilled in Speyside in 1973, and bottled in 2019.
The tokens are offered exclusively through BlockBar’s innovative NFT platform which enables Glenfiddich to digitise and sell exclusive 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 or investor has the choice at any time to resell or transfer the NFT through the BlockBar platform or to redeem it for the physical version. BlockBar is also responsible for storing the product and, upon request, delivering it to the buyer.
Doug Bagley – Chief Operating Officer at William Grant & Sons – said the partnership allowed Glenfiddich to create an elite club of whisky collectors.
“Glenfiddich continues to push boundaries in whisky innovation and this mindset transcends to those we partner with,” he said.
“We are proud to be the first luxury spirits brand to be available on BlockBar at the time of the launch.
“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.”
Glenfiddich Malt Master, Brian Kinsman, said the exceptional whisky was a good choice to offer with an NFT.
“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 is a fitting spirit for the launch of Glenfiddich’s first and exclusive NFT release on BlockBar,” he said.
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, as tokens are protected by FireBlocks’ digital asset custody infrastructure and Chainalysis’ compliance technology.
The first series of Glenfiddich NFTs will launch on October 19 2021, on a first come, first served basis. Buyers may purchase the NFTs from BlockBar with Ethereum (ETH) or by credit card.
“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 and spirits platform via an NFT marketplace.
“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.”