This month, fine wine collectors can place a bid on their favorite NFT fine wine during Africa’s first auction of this kind. The event will feature some of the rarest physical wines amassing over 250 bottles.
The unprecedented auction will run between April 18th and 25th via the Strauss & Co auction house. Of course, attendees will enjoy plenty of surprises too!
Strauss & Co, hosting Africa’s first NFT fine wine auction
The renowned auction house Strauss & Co will host Africa’s debut NFT fine wine auction. Accordingly, the hybrid digital assets will link physical fine wines to virtual collectibles.
In fact, each NFT represents between 20 to 50 vintages and collections of up to 288 bottles. The corresponding smart contract includes essential information for the physical fine wine bottle. For example, holders will know its provenance, aging, and manufacturing details.
The list of participating brands features Klein Constantia Vin de Constance, Meerlust Rubicon, Kanonkop Paul Sauer, and Vilafonté Series C. Surprisingly, most of the wine varieties are limited-edition. For example, the iconic vintages of Kanonkop Paul Sauer 2009 are extremely rare. Meanwhile, collectors can also bid for the 1986 Vin de Constance or Mullineux Olerasay – both of which are nearly impossible to find otherwise.
Now, Strauss & Co brings together these historic producers for a unique NFT fine wine drop.
“Various fine wine NFTs have become available over the last 2 years as the NFT market has boomed. Strauss & Co Fine Wine NFTs, however, offer a unique iconic South African industry collective of verticals direct from the producers,” says WineCellar Director Roland Peens. “[The Fine Wine NFTs] provide unprecedented ownership of vintage wines and futures to the collector and investor.”
Nevertheless, Strauss & Co isn’t the only renowned initiator of the project. The auction house collaborated with sommelier Higgo Jabocs and WineCellar.co.za, one of the main fine wine merchants.
Hybrid NFT beverages: a growing trend
The Strauss & Co NFT fine wine drop is the first of its kind in Africa. However, the NFT wine trend has increased in popularity in recent months globally.
For instance, the iconic wine merchant Dave Powell launched an entire vineyard as NFTs in October 2021. The NFT holders received personalized bottles, as well as other exclusive perks.
Meanwhile, HelloFam entered the market as the first NFT-focused wine brand. The project linked its Grape Fam NFTs to physical fine wine bottles stored in its temperature-controlled facility.
These examples just go to show there are endless possibilities in this new sector.
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