SPIRITS – Rare Drams Online
In a quest to make its portfolio of rare whiskies available beyond the auction house, Glenfiddich has released 15 bottles of Glenfiddich 1973 on direct-to-consumer luxury spirits platform BlockBar. Presented in a bespoke Baccarat crystal decanter, this rare 46-year-old whisky finished in Armagnac casks is purchased via non-fungible tokens, or NFTs. Each NFT corresponds to a bottle in a storage and the owner of the NFT can keep, sell or trade it. BlockBar is also responsible for storing the product and delivering it to the buyer on request. You can pay with a credit card or using crypto currency – but if you don’t make the payment within a few minutes, you lose the deal.
The tokens are offered exclusively through BlockBar’s NFT platform, which enables Glenfiddich to digitise and sell spirits products as NFTs directly to consumers. Upon purchasing the NFT, the buyer then becomes the owner of the real-world physical product, with the NFT serving as a digital receipt that verifies the buyer’s ownership and the product’s authenticity. The buyer has the choice to resell or transfer the NFT through the BlockBar platform or to redeem it for the physical version at any time.