NFT Tied to Rare Whiskey Cask Auctions for $2.3M

NFT Tied to Rare Whiskey Cask Auctions for $2.3M

A non-fungible barrel of 1991 Macallans scotch set whiskey public sale data Friday, nabbing $2.3 million on NFT market Metacask.

The sale surpasses the earlier cask sale document worth of $574,000 for the same barrel at public sale home Bonhams final August. This version got here bundled with digital artwork from Trevor Jones.

A pseudonymous purchaser who goes by oldcask outbid two different bidders lively in digital whiskey investments, a PR consultant informed CoinDesk. The firm declined to establish the client.

The NFT serves as a digital title-of-deed for the cask of the whiskey. It was minted on the Ethereum blockchain.

Co-founder Nim Siriwardana mentioned Metacaskminted and auctioned the cask NFT to showcase the enchantment of digitally transferable rights.

“Buyers don’t want to go to a bodily public sale home to purchase uncommon and priceless actual belongings like whisky,” Siriwardana mentioned in an announcement.

NFT gross sales have change into more and more mainstream and widespread in the course of the pandemic. Sales volumes surged to $10.7 billion in Q3 of 2021, greater than eight occasions greater than the second quarter, in accordance to information by DappRadar.

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