NFTs have become one of the popular ways for artists, brands, celebrities, and people to reach out to the public and fans. It became an excellent way to offer unique digital assets to the public and make profits or fund a charity.
BlockBar, a luxury wine and spirits seller, is auctioning a 1970 Japanese whisky. The whisky is considered the world’s rarest since only 211 bottles were left from the 1970 cask. Moreover, the Karuizawa distillery was shut down in 2011 and the land on which it stood was sold in 2012, making it impossible to further produce any wines or spirits.
Many collector items can be forged or compromised, which is why it is important to prove that the product is real. Moreover, the amount of collectors has been rapidly increasing, creating a fertile ground for selling fakes. According to BlockBar:
“The number of collectors grew by 582% in the last 10 years and yet there is still no way to prove authenticity or ownership.”
Karuizawa's “The Last Masterpiece 1970” bore the artwork label by one of Japan’s most brilliant calligraphers — Sauun Takeda. The one-of-a-kind bottle starts being auctioned on July 12th, 12 AM (EST), with the starting price of 75’000 USD.
The auction of the whisky bottle as an NFT is not the first case of real items being sold as NFTs. The auction of Napoleon's belongings was one of such auctions. Another great example was Banksy’s art, which after being sold as a non-fungible token was burned right at the Livestream.