Glenfiddich Roars Into the New Year With a Chinese New Year NFT Drop
The spirits landscape is crowded.
The number of distillers in the U.S. alone grew 1% last year, to include 2,290 brands as of August of 2021, according to the American Craft Spirits Association. And the appetite for spirits is growing even faster, growing at annual rate of 7.3% by volume, and 9.8% by value. The sale of luxury spirits overall, including Cognac, American and Irish whiskey, single malt scotch, Japanese whisky and tequila, were up 25% in 2021.
Grabbing the public’s attention is more important than ever, and arguably more challenging. One way that producers are distinguishing themselves and attracting new customers is through innovative and highly limited Non-Fungible Token (NFT) releases. (NFTs live on a blockchain and cannot be copied, which ensures authenticity, another challenge in the drinks industry amid widespread fraud.) It’s a new technology that’s also taking off in the wine industry. Just last month we shared the story of Mondavi’s first NFT offering.
Glenfiddich introduced its first NFT last year, selling 15 bottles of 46-year-old Glenfiddich whisky for $18,000 a bottle, each of which featured a distinct counterfeit-proof NFT.
This month, Glenfiddich is capitalizing on that success and celebrating the Year of the Tiger with a limited edition Chinese New Year release. The 200 bottles of Glenfiddich’s 21-year-old Reserva Rum cask single malt Scotch whiskey dropped exclusively on BlockBar.com at 10 am EST on February 1st.
The Drop
Each bottle will cost 0.15ETH (or $382), which is payable with Etherium or by credit card. Once purchased, the NFT can either be resold or redeemed for the bottle itself. “Based on previous drops, we are confident that all of the NFTs will sell very quickly,” says Sam Falic, co-founder of BlockBar, which is the world’s first direct-to-consumer NFT marketplace specifically for luxury wine and spirits. Add Falic, “Our first release with Glenfiddich sold out in four seconds, and since then, many of the bottles have been resold on our marketplace.”
The Design
The bottle is more than “just” a 21-year-old whisky with a cool digital receipt. The design of the bottle is inspired by the last portion of the Chinese New Year Trilogy created by illustrator Rlon Wang. “Wang’s design is thematically linked to the Chinese New Year, celebrating the endless possibilities 2022 has to offer, and casting a spotlight on Glenfiddich’s iconic Stag,” says Falic. “Upon purchasing, owners will also have the chance to redeem a limited edition of Ron Wang’s artwork, one individual digital illustration artwork and a ballot to draw to have access to an exclusive online mentoring session with Glenfiddich Malt Master Brian Kinsman.”
And let’s not forget the whisky. Matured for 21 years on-site at the Glenfiddich distillery, it’s a classic Speyside whisky, aged in hand-selected Caribbean rum casks, allowing whisky to exotic notes of ginger, fig, lime and banana with a spicy, vibrant toffee warmth.
The Ox is on its way out, bring on the Tiger for 2022, and we’re sure … many other creative spirit NFT releases ahead.