Australian brewer Penfold has partnered with BlockBar to create a vintage wine cask NFT.BlockBar, a leading wine NFT marketplace, will host the sale of the cask.
Only one customer selected from a lucky draw will be able to purchase the NFT for $130,000 (about 30 ETH).The Penfold Magill Cellar 3 2021 vintage is still maturing and will be ready for bottling in October 2022 and sold in October 2023.
Once that cask has been allocated 300 bottles, the NFT tied to that cask will also be split into 300 NFTs.
There are only 13 barrels of this extremely rare wine and none of them are on the market. It is a blend of Barossa Old Vine Syrah and Coonawarra Cabernet Sauvignon, an elegant effort from winemaker Peter Gago, described by Penfold in his tasting notes as “dark red fruit and sweet spice, with layers of heather, cardamom and cedar.”
Customers who own this barrel cannot redeem it until the maturation process is complete. As this is a collector’s edition, the customer will be the sole custodian of the collection.
However, the person owning the barrel NFT will be able to sell or transfer the barrel NFT or bottle NFT at will.
To commemorate ownership of the barrel, buyers will receive a personalised commemorative barrel head from Penfold. At the same time, the winemaker will invite them to a private tasting at Penfold’s Magill winery in South Australia.
The market for rare white wine NFT is growing by the day. Last month, Dave Powell released a single vineyard wine NFT. an Aberdeen-based start-up released an NFT version of their Scotch range.