Don Julio, one of the world’s most popular tequila brands, has teamed up with BlockBar, an NFT marketplace for high-quality wines and spirits, to auction off limited-edition NFTs linked to variants of ‘Don Julio 1942.’
‘The Tequila Don Julio 1942 Cask Finish Release — 2024’ consists of five new barrel-aged expressions finished using re-charred casks that previously contained ruby port, Crémant, ex-bourbon, orange wine, and Portuguese Madeira wine. Don Julio 1942 is typically aged in American white oak barrels, so the new combinations of expressions is expected to appeal to tequila aficionados around the world.
As might be expected, the rare tequila won’t come cheap. The starting price for the auction, which is now live on BlockBar.com until June 20th, is $35,000 per cask. A cask consists of forty cases, or 240 750 ml bottles.
The five winners of the auction will receive NFTs that correlate to the expression they bid on, while the casks linked to the NFTs will continue to age at the Don Julio distillery until March 25th, 2025. Then, the Cask NFTs will transform into forty Case NFTS that holders can resell on BlockBar or redeem for physical bottles. Holders will also be invited to Jalisco, Mexico to visit the Don Julio distillery.
The Senior VP of Global Tequila and Mezcal Categories at Diegeo, Sophie Kelly, said that for many people, “luxury tequilas are considered an extension of one’s lifestyle.” This initiative allows people to “own an extremely rare, super luxe-tequila” and a piece of the brand’s “history and legacy.”
BlockBar, founded in 2021, sources high-quality wines and spirits directly from producers then sells NFTs that correspond to the physical bottles, barrels, or casks. Holders can redeem their NFTs for the physical spirits, hold them, or choose to sell them on the company’s secondary marketplace.
Alcoholic Beverage Industry Looks Bullish on the Blockchain
To some people, the idea of linking NFTs to high quality spirits might sound odd. But there are several advantages Web3 technologies can provide for the alcoholic beverage industry, not least of which is the guarantee of authenticity and provenance.
At Rarity Sniper, we’ve covered dozens of articles about alcoholic beverage companies leveraging NFTs and blockchain technologies to offer new products and initiatives. Here are some of the top headlines:
- May 2024. Blockbar, Château d’Esclans Put First Rosé on Blockchain
- February 2024. The Glenlivet Sells Exclusive $40,000 Whisky Bottles Through NFTs
- July 2023. Graham’s Port Pours into Web3 with NFT Collection
- June 2023. Fieri and Hagar Stir Up Tequila Scene with NFT Program
- February 2023. WineChain Adds Prestigious Wineries to NFT Marketplace
- January 2023. Absolut Gears Up to Launch Metaverse Bar & NFTs
It will be interesting to see how quickly the Tequila Don Julio Cask Finish Release NFTs sell out, and the prices they command. What the winners do with their 240 bottles of premium tequila will be even more curious. But only because the initiative was launched on a Web3 platform like BlockBar, selling them on the secondary market — potentially at a profit — is also an option.
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