Whiskey maker Glenfiddich sold extremely rare non-fungible tokens (NFTs) for $ 270,000.
An NFT is a digital asset that exists on a blockchain. The blockchain serves as a public ledger that anyone can use to verify the authenticity and ownership of the asset.
Unlike most digital objects, which can be reproduced endlessly, each NFT has a unique digital signature, which means that it is unique.
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NFTs are usually bought with the cryptocurrency ether or in dollars and the blockchain records the transactions.
While anyone can see the NFTs, the buyer has the status of the official owner, a kind of digital show-off right.
Glenfiddich took advantage of the rising popularity of NFTs and fetched $ 18,000 apiece for 15 bottles of Armagnac-cased 46-year-old whiskey along with his own one-of-a-kind.
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According to Dov and Sam Fallic, the founders of BlockBar, who took care of the technical side of the project: “Who cares about something that is digital? But the younger generation spends more time in the digital world than in the physical world. That’s where they live and that’s where they interact. ”
” We are always looking for new ideas; Most recently we have been working on converting our delivery trucks to use biogas from distillery waste. The whiskey is one of a kind, the use of an Armagnac barrel was an innovation in 1973 and has an incredible taste. This is a combination of a very rare, unique offering in whiskey with a blockchain that felt right to us, ”said William Grant and Sons, who will certify ownership of the NFTs.
The total NFT trading volume on the Ethereum blockchain is over $ 400 million, with nearly half of it in the last 30 days, according to NonFungible.com, which aggregates data from NFT marketplaces.
Enthusiasts see NFTs as the future of property. All types of real estate – from event tickets to houses – will be tokenized in their ownership status this way at some point, they believe.
For artists, NFTs could solve the problem of how to monetize digital works of art. You can get more income from NFTs as they receive a license fee every time the NFT changes hands after the first sale.
