Scotland distillery uses NFTs to sell 50-year-old exclusive whiskey- Republic World

Exclusive whiskey NFTs: The Glenlivet, a well-known distillery from Scotland, has come up with a new marketing tactic to advertise its rare 50-year-old whisky, valued at approximately $43,000 per bottle. Using nonfungible tokens (NFTs) and artificial intelligence (AI), The Glenlivet aims to set apart the accessibility of its exclusive collection.

Announced on February 13, the initiative involves the sale of 12 bottles from a whisky collection that has been maturing at The Glenlivet’s Speyside distillery since 1974. The distillery has also used AI to generate unique labels for each bottle. To facilitate the sale, The Glenlivet has partnered with The Whisky Exchange Cabinet, a marketplace using blockchain technology to ensure traceability and provenance for rare spirits.

Kevin Balmforth, The Glenlivet’s cask expert, labelled the collection as a forward-looking tribute as the distillery commemorates two centuries in operation. Scheduled for release on February 21, the limited-edition bottles are likely to allure enthusiasts and collectors alike.

This is not the first time blockchain technology and the alcohol industry is coming together as earlier experiments can be dated back to 2019. Notably, BrewDog allowed cryptocurrency investments in its shares, while Munich-based MetaBrewSociety NFT-based governance in brewery decisions. Moreover, Nokia’s foray into metaverse applications for remote brewery operations also showcases the ongoing evolution of technology in the alcohol sector.