KEY POINTS
Château d’Esclans, a renowned rosé wine producer situated in the Côtes de Provence region of France, is selling a barrel of its esteemed Garrus as a non-fungible token (NFT) on BlockBar.
Garrus, hailed as “the best rosè on Earth,” stands as the inaugural rosé wine to find its way onto BlockBar — a specialized NFT marketplace catering to wines and spirits enthusiasts.
Potential buyers can acquire a quarter barrel, equivalent to 150 liters, and select their preferred bottle sizes — ranging from the standard 750ml to the 6L Methuselah size, known for its rarity.
The sale adopts a Leaderboard auction format, where participants must outbid one another to secure their position on the leaderboard and avoid being displaced. As the auction draws to a close — Friday, 31 May — the four bidders on the Leaderboard will secure their place as winners.
With a starting price of 7.59 ETH ($20,000), NFTs representing ownership will be minted on the Ethereum blockchain, granting holders the privilege to redeem physical bottles starting November 2024.
Furthermore, NFT holders will receive an exclusive invitation to join either Founder Sacha Lichine or Vice President Paul Chevalier at Château d’Esclans in Provence on September 13, 2024.
This move signals yet another wine producer’s foray into the Web3 space. In a similar vein, last July, renowned port wine producer Graham’s announced the release of an NFT to accompany limited-edition cases of its iconic 1970 & 2020 Vintage Ports.
However, the integration of emerging technologies isn’t limited to wines; liquor and whiskey brands have also embraced the digital age. In February, Midleton Very Rare celebrated its 40th anniversary with a distinctive crystal decanter edition, crafted by Keanes Jewellers, complemented by an NFT.
NFTs present a promising solution to some of the beverage industry’s most pressing issues — provenance and authenticity. Moreover, they offer brands and producers the opportunity to foster a sense of community and enhance customer loyalty by providing holders with unique perks and experiences.
According to a recent report from Research and Markets, the global market size for NFTs in the food and beverage industry is projected to surpass $2 billion by the year 2032.
