By: Caroline Nihill By: Caroline Nihill | April 11, 2022 | Food & Drink
Wine and NFT connoisseurs should keep an eye on BlockBar and Penfold’s upcoming drop.
The Australian wine company has teamed with the NFT platform to release BlockBar’s first wine auction, offering a rare duo of collectible vintages with a starting bid of $25K. The auction runs now through Wednesday, April 13.
See also: 5 NFT Collectibles That Offer Real World Benefits
Penfolds was established in 1844 in a spirit of innovation, and that ethos comes to life in this metaverse crossover.
Up for grabs is a rare 2018 Superblend Imperial Duo, presented as two NFTs to one buyer via auction. The NFTs are tied to 6-liter bottles, including the Penfolds 2018 Superblend 802-A Cabernet Shiraz Imperial and the Penfolds 2018 Superblend 802-B Cabernet Shiraz Imperial.
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These two blends were raised in two different environments but are essentially siblings. The selections are meant to represent two interpretations of the Australian blend of cabernet sauvignon and shiraz.
The 802-A was aged separately in American oak hogshead for 22 months before being blended. The 802-B, however, was blended post vintage and completed 19 months of maturation in French oak hogshead.
“The release of these special Superblend NFTs follows two highly successful Penfolds and BlockBar NFT drops,” Penfolds chief marketing officer Kristy Keyte says. “Penfolds’ first NFT linked to a barrel of 2021 Magill Cellar 3 sold in under 12 seconds for USD $130,000. Our second NFT release, linked to 300 bottles of 2018 Magill Cellar 3, sold out in under 10 hours. We look forward to seeing the response to our Superblend release.”
To successfully make a bid, the buyer must have funds for the total bid price when the bid is submitted, and their wallet must be connected to BlockBar. When the auction ends, the person with the highest bid has two hours to submit the full payment, which will be accepted either through ETH, Fiat or a wire transfer that must be pre-approved by BlockBar.
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The highest bidder may choose to do a variety of things with their purchase, be that redeeming the physical products and having them delivered, safely trading the NFT’s within the BlockBar web marketplace, keeping the NFTs in their virtual bar, or gifting them through BlockBar’s new gifting platform.
Upon purchasing the NFTs, BlockBar will hold the cryptographic versions with a record of authenticity as a digital certificate of ownership.
The buyer will also receive a complimentary 750ml bottle of each of the Penfolds Superblends to taste in a private virtual session with Penfolds Chief Winemaker, Peter Gago. If the buyer is a previous Penfolds NFT owner via BlockBar, they will also receive a complimentary luxury Superblend 802.A and 802.B Decanter.
Check out more information about this auction on BlockBar.com.
Photography by: Terry Vlisidis / Unsplash