Ahhh, there’s nothing like sitting down in your favorite recliner after a long day of work and enjoying a few sips of your favorite scotch whisky, one of mine being Glenfiddich. Which makes today’s news so much more exciting. 

Glenfiddich plans on launching a suite of ultra-rare bottles of scotch as NFTs. So, how do you drink an NFT? Check out the story below:

Glenfiddich Will Launch $18,000 Whiskey NFTs

In a recent announcement, Glenfiddich, a well-respected whisky creator, said that it will be launching a new set of ultra-rare NFTs surrounding the release of high-end bottles of rare whisky. To enter the NFT space, the company has partnered with BlockBar, an NFT marketplace for wines and spirits. 

So, what exactly is BlockBar?

As mentioned above, BlockBar is an NFT marketplace for wines and spirits, which is where things get interesting. The company develops NFTs associated with rare releases of wines and spirits, with each bottle coming with its own unique piece of art. 

Once the NFT is purchased, it acts as a certificate of authenticity for the collector of the wine, whisky, or other various forms of spirits. However, the NFT owner doesn’t actually receive the bottle they purchased. Instead, that bottle is securely stored by BlockBar and the NFT representing that bottle can be collected, traded, or sold on the open market. 

If the buyer actually wants the wine or spirit they’ve purchased, they simply redeem the NFT for the bottle and receive the bottle the NFT acts as the certificate of authenticity for. 

The Glenfiddich launch will work in many of the same ways. Those who want to own a bottle of the ultra-rare whisky will be required to buy an NFT through BlockBar. As with all other tokens purchased on the platform, the art can then be sold, stored, or traded, and if the purchaser wants the actual bottle of scotch, they can redeem the NFT and will receive the bottle in return. 

So, what’s so special about these bottles of whisky that they are worth an $18,000 price tag? Well first off, they come with NFTs, a craze that has been sweeping the blockchain industry. However, the excitement goes far further. 

First and foremost, when the company says these whiskies are ultra-rare, it means it. Only 15 bottles of the single malt scotch whisky will be produced. Moreover, the whisky started production in 1973, and anyone that drinks scotch knows that the longer it ages, the better it tastes. This particular scotch has been aging for 46 years and is rich in fruity tones after spending more than two decades in an Armagnac cask to achieve a distinct finish. 

This Is a Pivotal Shift in the NFT Industry

For quite some time, NFTs have been touted as a way to track and validate physical goods, but there have been few examples of this actually taking place. The fact that such a well-known producer of high-end scotch has decided to jump on board shows that not only is there utility in NFTs beyond the digital world, but that massive companies see the value of bringing these tokens to the real-life stage. 

Think about it this way…

Through the deal with BlockBar, Glenfiddich is essentially creating a ticketing system where tickets are purchased for rare physical goods. However, those rare physical goods don’t have to be limited to scotch. 

For example, every once in a while Nike releases a limited-run pair of sneakers. Let’s say a new limited run is dropping and only 50 pairs of sneakers will be available. Anybody involved collecting Nike sneakers will want to get their hands on one of those 50 pairs. 

However, there’s a caveat. Those that collect Nike sneakers know that it’s important to keep limited-edition versions of the shoes in good condition. Instead of being charged with doing so, that limited run of sneakers can be stored by Nike, with the NFT being the ticket to receive the sneakers you purchased. 

As with the scotch mentioned above, the NFT could be held, sold, or traded, and when it switches hands, the rights to those sneakers will trade hands as well. Ultimately, this function can be used to validate ownership of anything of value! 

The Bottom Line

The bottom line here is that NFTs are proving to be far more than a digital collectible. As they continue to work their way into the real world, the implications of this technology are incredible. Essentially, these tokens have the ability to send the world into a new age of commerce, one in which ownership can be verified, forgeries are impossible, and high-quality goods can transfer ownership without the danger of theft, damage, or a lack of validity.