The latest brand to join the NFT bandwagon is Glenfiddich Whisky, which sold 15 bottles of rare whisky priced at Rs 13.5 lakh each, with NFTs. According to PR News Wire, the brand partnered with BlockBar, a non-fungible token (NFT) marketplace, to launch a series of 15 limited edition liquor NFTs. The tokens, which represent an artistic impression of the whisky bottles, are meant to be status symbols for collectors of such expensive whisky. “Upon purchasing the NFT, the buyer can then become the owner of the real-world physical product represented by the NFT, with the token serving as a digital receipt that verifies the buyer’s ownership and the authenticity of the product. The buyer has the choice at any time to resell or transfer the NFT through the BlockBar platform or to redeem it for the physical version," said a release by the company.
Talking to Forbes, Distillers William Grant and Sons, the manufacturers of the whisky, said that under their model of ownership, the bottle remains in the company’s custody until the customer wants to claim it, at which point they have to destroy – known as “burn” – the NFT. Until they do, possession of the NFT means that William Grant and Sons will certify that the buyer owns a genuine, 46-year-old Armagnac-casked Glenfiddich. The report adds that the NFT not only allows buyers to show off their purchase but also acts as a counterfeit-proof certificate of ownership. The idea worked out well for the brand as the bottles were reportedly sold within seconds.
With the rise in digital currency, many are cashing on NFTs. One of Bollywood’s biggest ever stars Amitabh Bachchan is all set to roll out his own NFTs, including some of the most unique and exclusive artworks surrounding his identity. Big B is among the first Indian actors to jump on the NFT bandwagon. The Amitabh Bachchan-themed NFTs will include artworks like verses from his father Harivansh Rai Bachchan’s legendary work Madhushala narrated by the megastar, backstories related to Big B’s works, posters of his movies signed by him, and few other rare elements related to his life converted into digital artwork.
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