Penfolds to release second rare wine NFT

On Tuesday 18 January, Penfolds will launch its second NFT with, with the release including limited edition NFTs tied to 300 bottles of Penfolds Magill Cellar 3 Cabernet Shiraz.

Made only in exceptional vintages, Magill Cellar 3 wines are unique, rarefied and symbolically important, and is a limited and rare opportunity to purchase individual bottles from one of only 14 Magill Cellar 3 2018 barrels, of which Penfolds said: “Never done before, never to be done again.”

The NFT serves as a digital receipt that verifies the buyer’s ownership and authenticity of the wine bottles. Each bottle will be stored in limited edition gift boxes at BlockBar’s facility in Singapore, until the purchaser decides to redeem the bottle NFT by collecting the physical bottle. As part of the program, the first three buyers to purchase six bottles of Penfolds Magill Cellar 3 2018 will be invited to attend a private virtual session with Penfolds Chief Winemaker, Peter Gago.

The first three buyers to redeem six bottles of Penfolds Magill Cellar 3 2018 will receive a personalised plaque for their wine gift box. These experiences must be redeemed within a year of the NFT release date.

Kristy Keyte, Penfolds Chief Marketing Officer said: “Gifting continues to be one of Penfolds most important purchase occasions, whether it’s big milestone events or little out of the ordinary moments that matter – there’s always a Penfolds wine to mark the moment.

“We are thrilled to be working with BlockBar again in 2022 as they launch their new NFT gifting service. This is a groundbreaking innovation that will change the way consumers gift luxury wine.”

Penfolds Magill Cellar 3 2018 NFT release coincides with BlockBar’s newly launched ‘NFT gifting service’ – an offering that will allow consumers to purchase fine wines and luxury spirits as NFTs on to gift to friends, family and business associates anywhere in the world.

Dov Falic, co-founder and CEO of BlockBar, said: “BlockBar continues to disrupt the traditional fine wine and luxury spirits industry. Luxury spirits and wine gifting has been worth billions of dollars for many years but only very recently has the giving of NFTs become a phenomenon.

“BlockBar is at the forefront of this digital gifting transformation with its new service available to anyone in the world and we are excited to partner with Penfolds for our inaugural gifting drop.”

Penfolds Magill Cellar 3 NFTs (300 total) will be available to purchase on at 10AM EST on Tuesday 18th January, on a first come first served basis, priced at 0.15ETH, ~USD $467. The NFT can be purchased from BlockBar with Ethereum (ETH) or by credit card.

Penfolds second NFT sale follows the highly successful first BlockBar drop in November 2021, where a barrel of 2021 Magill Cellar 3 sold in under 12 seconds for US$130,000.

Source: The Shout


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