Hennessy Leaps Into NFT Game With $226.5K Sale
Luxury cognac brand Hennessy will join a big trend by launching its first NFTs — non-fungible tokens — on Wednesday, according to a news release. The NFTs will consist of a dual drop of decanters Nos. 1 and 250 of a 250-bottle run. The NFTs will be sold by NFT marketplace BlockBar, which has conducted sales for Glenfiddich and The Dalmore.
The non-fungible product, Hennessy-8, is a tribute to eight generations of master blenders for Hennessy. It is a blend featuring spirits produced by all eight blenders, including current master blender Renaud Fillioux de Gironde.
The two Hennessy-8 NFTs will be available to one buyer only, priced at 70.47 ETH (currently about $226,450, according to BlockBar). Potential buyers will be able to access a digital lobby at 9:30 a.m. EST Wednesday, providing they have at least 1 ETH in their wallet and have it connected to the site. At 10 a.m., all users in the lobby will be shuffled randomly, and then BlockBar will proceed through the queue until a buyer is confirmed.
The purchase will net the buyer a record of authenticity held on the blockchain as a digital certificate of ownership. The buyer may claim the physical cache and have it delivered from BlockBar’s secure storage facility or trade its NFT version within the BlockBar.com marketplace.
The physical cache includes A decanter of Hennessy-8; a commemorative sculpture; a storage chest designed by artist and designer Arik Levy using oak staves sourced from La Sarrazine, the Hennessy cooperage along with a jewel-like copper key to open it; a toolbox containing four tasting glasses, originally designed 30 years ago by glassmaker Georg Riedel and Yann Fillioux, as well as a pipette made of oak barrel wood and a cork holder; a keepsake brochure describing the genesis and spirit of Hennessy-8; and a personalized authentication plate and numbered certificate.
The other 248 decanters will be marketed separately by Hennessy.
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