NFTs
Bordeaux en primeur wines offered as NFTs
Web3 platform InterCellar has released several of this year’s Bordeaux en primeur wines as non-fungible tokens (NFT).
The platform offers a collection of wines through the Crypto.com exchange from seven producers, the first of its kind in the traditional en primeur campaign.
Due to the fact that en primeur wines have not yet been bottled, it is innovative to participate in the collectible wine trade before the wines are bottled, he said.
Wines available for purchase include:
- Château Cheval Blanc 2023
- Château Angelus 2023
- Château Lafite Rothschild 2023
- Château Mouton Rothschild 2023
- Le Petit Mouton De Mouton Rothschild 2023
- Château Carruadas de Lafite 2023
- Château Leoville Las Cases 2023
Mintage
By minting the NFT, the buyer will receive the physical bottle, which will be stored in a secure InterCellar deposit, as well as a 5% discount for use on other wines.
The wines can be delivered from June 1, 2026, when the en primeur wines begin to be bottled, as the wines will remain with the producer for at least 24 months.
Once bottled, they will be subject to storage fees (€1.2 per item per month) that must be paid for the duration of the NFT ownership or until the bottle is redeemed.
The concept behind Web3 is to build a new decentralized Internet based on blockchains – distributed ledgers that are controlled communally by all participants, including creators and buyers.
By purchasing a non-fungible token, the owner can trade their digital asset or redeem it to collect the physical item. In the case of en primeur wines that have not yet been bottled, the NFT is stored until it can be redeemed for the physical bottle or traded.
NFTs
One of the benefits of wine NFTs is the traceability offered by the unique digital token, giving the buyer complete knowledge of exactly where their wine is at all times.
Each NFT has a unique signature that proves its authenticity, increasing its appeal in the market for products with high collectible value, such as fine wines.
Buyers receive a unique digital token, which is proof of ownership of the product, ensuring it cannot be counterfeited or otherwise manipulated.
The news follows last year’s VIK offering a limited release of 50 double magnums of the 2018 vintage highly valued as NFTs.
VIK’s 2018, a blend of 75% Cabernet Sauvignon and 25% Cabernet Franc aged for 20 years in French oak barrels, was described by db’s Bordeaux correspondent as “immediately aromatically expressive with a delicious combination of wild herbs, crushed petals and notes richer, deeper spicy flavors.” accentuating the red stone fruit.”