The Glenlivet, an iconic whisky distillery based in Scotland, is using NFTs and artificial intelligence (AI) to sell a rare 50-year-old whisky that costs around $43,000 per bottle.
The whisky, which has been maturing since 1974 at the Speyside distillery in Scotland, is one of the oldest official releases from The Glenlivet. Over the years it has been aged and crafted by a long line of experts, terminating with cask master Kevin Balmforth.
The bottles are being sold on The Whisky Exchange Cabinet, a Web3 marketplace for rare spirits that are sourced directly from some of the best producers around the world. Users can buy, sell, and collect coveted spirits, with proof of ownership recorded as a smart contract on the blockchain. The platform accepts credit card and cryptocurrencies, and bottles are stored in a climate-controlled storage facility in the U.K. until owners choose to redeem their NFTs for physical bottles.
The highly exclusive drop from The Glenlivet is called “The Twelve Elements,” and there will only be 12 bottles available for purchase. Each bottle features unique AI-created artwork that represents an individual element. The NFTs will be sold on February 21st, and the whisky will be bottled in May 2024 to mark the bicentennial anniversary of The Glenlivet.
Kevin Balmforth, who personally selected the single malt whiskies, said that the NFTs are a “look to the future” as the company celebrates 200 years in business.
The NFT drop isn’t the only move the company has made in Web3. On its website, The Glenlivet also offers a mobile augmented reality experience that immerses customers in The Sample Room to discover new collections and learn about the whisky.
Alcohol Companies Lean into Web3
The release of a 50-year-old bottle of whiskey from The Glenlivet is exciting news for collectors of rare spirits, and the fact it’s happening via NFTs is a win for Web3. But this isn’t the first time we’ve seen an alcohol manufacturer team up with a Web3 company to launch a new product. In fact, the practice is a lot more common than most people would think.
Here are some of the top headlines about alcohol companies innovating in Web3:
- Graham’s Port Pours into Web3 with NFT Collection
- Fieri and Hagar Stir Up Tequila Scene with NFT Program
- Absolut Gears Up to Launch Metaverse Bar & NFTs
- Johnnie Walker Drops Exclusive Blue Label Whisky NFTs
- Moët Hennessy Enters Web3 with Trademark Applications
- Usher & Rémy Martin Partner for Limited Edition NFT Cognac Bottle
- Jack Daniel’s Files Web3 Trademarks for NFTs
Of course, the NFT drop from The Glenlivet will only be accessible to a small number of collectors who have a passion for rare whiskey and the funds to back it up. However, what’s more interesting is the utility of linking a rare bottle of spirits to an NFT: It guarantees authenticity, provenance, and makes the bottle easier to sell on a secondary market.
Those are a just a few of the reasons alcohol companies are embracing NFTs and blockchain technology at a rapid pace. If drops like these remain successful, we expect the trend to continue.