A New York-based startup, BlockBar, is using non-fungible tokens (NFTs) to help connoisseurs’ to track and trade high-end liquor much desired in Asian markets.
BlockBar — in partnership with William Grant & Sons (a Scottish distiller) — issued NFTs to a four-decade-old, $18,000 Glenfiddich single malt whiskey bottle. Investors can redeem these NFTS or use them as digital receipts to sell the bottles.
William Peacock, a Singapore-based global luxury director for William Grant & Sons’, said venturing into NFTs is the company’s way of courting new buyers.