Australia Australia Singapore Singapore Switzerland Switzerland 10 months ago

BlockBar annonces the limited edition of 300 gifting Penfolds wine's NFT bottles

Spirits

BlockBar NFT platform (https://blockbar.com/), the world’s first direct-to-consumer NFT platform for wine and spirits, just branched out yet further by launching a gifting capability comprised of 300 bottles of Penfolds wine. The limited edition NFT release includes a buyer experience: the first three people to purchase six bottles of NFT Penfolds Magill Cellar 3 2018 are invited to a private virtual session with Penfolds Chief Winemaker, Peter Gago, and will receive a personalised plaque for their wine gift box as well.

According to Forbes BlockBar’s first NFT gift launches on 18 January 2022, with limited edition NFTs linked to 300 bottles of Penfolds Magill Cellar 3 2018, priced around 0.13 ETH ($467). The founders described the Australians producers rare wine as the highest quality and representative blend of the brand’s Cabernet Sauvignon and Shiraz and “one of the most collectible and giftable wine brands in the world.”

“This is of great value to add to your digital portfolio, aside from the digital art you own, you can now own a digital bottle and build your digital bar which is also backed by physical assets”

Sam Falic, co-founder of BlockBar

According to The Drinks Business since its founding in 2018, BlockBar allowed consumers to purchase asset-backed NFTs directly from brand owners, to burn, redeem or sell the physical product. The actual bottles are stored in a secured facility in Singapore. BlockBar also gives the chance to gift the physical product, and the NFT gifting platform is designed so that anyone can use it.

“All you need to know is that you are receiving a gift which is a physical bottle that is stored for you in a secure location; the fact that it’s built on blockchain or uses NFTs is the mechanism to prove provenance and ownership. You can take possession of the bottle anytime you want”

Dov Falic, the other co-founder of BlockBar

According to The Switzerland Times once the NFT is purchased, the crypto version is held securely by BlockBar with an authenticity record kept on the blockchain as a digital certificate of ownership. The recipient will receive an email with an invitation to create an account and accept their NFT, receiving full ownership, which is transferred from the buyer. At this point, the recipient can choose to redeem the physical product, trade in their NFT version on the BlockBar Marketplace, or store it in their virtual bar, all without any additional transaction fees.

BlockBar Penfolds Penfolds Magill Cellar 3 2018 spirits products wine
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