In November 2021, Penfolds launched its first NFT sale and the barrel of 2021 Magill Cellar 3 sold in under 12 seconds for just under AUD$180K.
So it seems assured that serious wine collectors will be honed in on BlockBar.com next Tuesday, 18 January when 300 Penfolds Magill Cellar 3 NFTs become available on the site via its newly launched gifting service.
The 300 NFTs will be sold on a first come first served basis, priced at 0.15ETH/AUD$642.
Made only in exceptional vintages, Magill Cellar 3 wines are unique, rarefied and symbolically important. Crafted under the watchful eye of Chief Winemaker Peter Gago, these wines will not be found on the shelf of any shop, nor even Penfolds Cellar Doors. The limited edition NFTs are tied to 300 bottles of Penfolds Magill Cellar 3 Cabernet Shiraz from the 2018 vintage. Only fourteen barrels of the wine were made.
Kristy Keyte, Penfolds Chief Marketing Officer comments: “Gifting continues to be one of Penfolds most important purchase occasions, whether it’s big milestone events or little out of the ordinary moments that matter – there’s always a Penfolds wine to mark the moment. We are thrilled to be working with BlockBar again in 2022 as they launch their new NFT gifting service. This is a groundbreaking innovation that will change the way consumers gift luxury wine.”
The NFT serves as a digital receipt that verifies the buyer’s ownership and authenticity of the wine bottles. Each bottle will be stored in limited edition gift boxes at BlockBar’s facility in Singapore, until the purchaser decides to redeem the bottle NFT by collecting the physical bottle.
“Luxury spirits and wine gifting has been worth billions of dollars for many years but only very recently has the giving of NFTs become a phenomenon. BlockBar is at the forefront of this digital gifting transformation with its new service available to anyone in the world and we are excited to partner with Penfolds for our inaugural gifting drop,” said Dov Falic, cofounder and CEO of BlockBar.