The Glenlivet, a distillery situated in Scotland, has incorporated NFTs (Non-Fungible Tokens) and AI (Artificial Intelligence) into its marketing approach to promote the sale of whiskey from a collection aged for 50 years. This initiative was revealed by The Glenlivet on Monday, announcing its intention to auction off bottles from this exclusive collection, which have been aging at its Speyside distillery in Scotland since 1974.
The Glenlivet, NFTs, and AI
The alcohol distributor utilized AI to craft unique labels for each bottle within the collection, while a blockchain-based marketplace will facilitate traceability and establish provenance, ensuring transparency in the sale of these spirits.
Each bottle is priced at approximately $43,000, with the products slated for sale on February 21st.
Transactions will occur on The Whisky Exchange Cabinet, leveraging NFTs and blockchain technology to generate digital certificates, confirming the authenticity and ownership of each whiskey bottle sold.
Kevin Balmforth, The Glenlivet’s cask expert, remarked that the collection offers a glimpse into the future of luxury items.
“As we celebrate 200 years of The Glenlivet, this ultra-rare collection provides insight into the future and offers whisky enthusiasts worldwide an opportunity to explore the evolution of luxury investments,” Balmforth stated.
In a previous interview with The Drinks Business, Nicolas Oudinot, CEO of The Whisky Exchange, noted the surge of projects in the market focusing on NFTs. He emphasized his company’s unique approach – selling rare whisky bottles while utilizing technology to bolster their endeavors.
Blockchain + Alcohol
Blockchain’s collaboration with the alcohol industry is not a novel concept.
In July 2019, the beer brewery BrewDog opened up the opportunity for investors to buy shares using cryptocurrency, broadening their crowdfunding initiative.
In 2022, MetaBrewSociety, based in Munich, took a unique approach by offering voting rights on business decisions for a physical brewery through the utilization of NFTs and a DAO (Decentralized Autonomous Organization). The company introduced “beer share” certificates, granting different levels of governance rights for a brewery situated in Munich.
