Posted on 11/03/2021 11:16:03 AM PDT by aMorePerfectUnion
Are NFTs the next big thing for high-end whisky collectors?
Two entrepreneurs that were behind a record-breaking $2.3 million sale of a 1991 The Macallan cask earlier this month certainly think so.
The double-size cask, a first-fill sherry butt distilled at The Macallan, which currently holds about 600 bottles of 30-year-old whisky, was sold at auction. It included a digital asset from artist Trevor Jones called “The Angel’s Share,” which is an uncompressed scan of Jones’ oil painting as well as an animated component.
The sale was a partnership between Origin Protocol, a company that drops NFTs, one-of-a-kind digital assets that a person can buy or sell in the Ethereum blockchain, and Metacask, a marketplace for whisky cask NFTs. Origin was part of the $11.7 million sale for the musician 3LAU and the $760,000 on the Charlie Bit Me video, has worked with controversial YouTube star Jake Paul and recently brought on Paris Hilton as a strategic investor.
“The owner had gone to Bonhams and received a valuation for it until we can along and said let’s do this NFT,” Siriwardana said. “When you buy this NFT, you are now the owner of the cask. It’s a slightly different concept to what you find with art, where often the asset itself is the NFT. Here the NFT is also the contract that you own the cask.”
(Excerpt) Read more at forbes.com ...
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Thanks! For it - or ag'in it, it'll be a wild ride.
PING!
What in amazing world...
Welcome Whisky experts.
Much more at linky.
Forbes must be excerpted and cannot contain more than 300 words.
I would have jumped in on this cask but I heard silver plated straws weren’t included. Cheers!
For one thing, it screws up Pat Travers' show.
For later.
L
Still have no idea what an NFT is.
I had an open house party when we bought our large home 12 years ago. A lot of people brough a lot of nice bottles of assorted beverages, so I can be forgiven for not noticing that one of the boxes got pushed o the back of a lower cabinet in my bar. Fast forward to last year as I was cleaning out the bar getting ready to list the house for sale and there in the back was the unopened box with a bottle of Macallan 18 from a decade ago that now had another 10+ years tacked on it. Needless to say it was like the nectar of the Gods.
For what you’d pay you should get sterling.
“hat now had another 10+ years tacked on it.”
Whiskey does not age after bottling.
What does it mean for whisky collectors? it means they have too much money.
I read $2.3 million sale of a 1991 The Macallan cask and thought to myself "what's the big deal, it's not that old to be worth that much?"
Then I read The double-size cask ... which currently holds about 600 bottles of 30-year-old whisky and I was not-so-gently reminded of my own age...
I know. It just added another sparkle to the suprise of finding it.
I’d rather have a boat, 600 bottles of whiskey, and a color print of dogs playing poker for $2.3 million. And still plenty of money left for gas. And to play poker with the dogs.
It's a certificate of authenticity, except in digital form. Really quite stupid if you ask me. It is not meaningfully different than any other entry on a blockchain ledger.
Always open to corrections or clarifications.
The import tax caused high prices then they stopped the tax but prices haven’t come down much. My favorite Scotch is still $500.
Nonfungible token. I had to look it up. Never use an acronym without defining it the first time.
Looks like a 4-year-old’s “art”.
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