BlockBar NFT Gifting Platform Launches with 300 Bottles of Penfolds Wine

BlockBar, the world’s first direct-to-consumer NFT platform for wine and spirits has just diversified further by launching a gifting capability comprised of 300 bottles of Penfolds.

This new initiative lets the BlockBar community gift a highly coveted collectible wine or spirit connect the physical and digital world. In fact, BlockBar says the market for investing in high-end collectible spirits, like Penfolds wine, has increased by 582 % in the last decade.

Sam Falic, co-founder of BlockBar, told Forbes about the platform’s extension which targets both crypto experts and beginners: “This is of great value to add to your digital portfolio, aside from the digital art you own, you can now own a digital bottle and build your digital bar which is also backed by physical assets.”

NFT (Non-fungible tokens) are currently popular (almost in every industry), from art to rare wine and spirits. Since its founding in 2018, BlockBar has allowed consumers to purchase asset-backed NFTs directly from brand owners, to burn, redeem or sell the physical product. The actual bottles are stored in a secured facility in Singapore. BlockBar also gives the chance to gift the physical product, and the NFT gifting platform is designed so that anyone can use it.

Penfolds wine estate has launched a limited edition NFT tied to its rare Magill Cellar 3 barrel of wine, available to purchase for $130,000.

Dov Falic, the other co-founder of BlockBar, explained: “All you need to know is that you are receiving a gift which is a physical bottle that is stored for you in a secure location; the fact that it’s built on blockchain or uses NFTs is the mechanism to prove provenance and ownership. You can take possession of the bottle anytime you want.”

BlockBar’s first NFT gift launches on 18 January 2022, with limited edition NFTs linked to 300 bottles of Penfolds Magill Cellar 3 2018, priced around 0.13 ETH ($467). The founders described the Australian producers’ rare wine as the highest quality and representative blend of the brand’s Cabernet Sauvignon and Shiraz and “one of the most collectible and giftable wine brands in the world.”

When the NFT is purchased, the cryptographic version is stored securely on BlockBar with proof of authenticity held on the blockchain as a digital certificate of ownership. The recipient will receive an email with an invite to create or sign into an account and accept their NFT, receiving full ownership. The receiver now can choose to redeem the physical product, trade its NFT version within the BlockBar marketplace or store it in their virtual bar, all with no additional transaction fees.

The limited-edition NFT release includes a buyer experience: the first three people to purchase six bottles of NFT Penfolds Magill Cellar 3 2018 are invited to a private virtual session with Penfolds Chief Winemaker, Peter Gago, and will receive a personalized plaque for their wine gift box as well.

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Champagne Nicolas Feuillatte and CRVC merge to form “Terroirs et Vignerons de Champagne”

This week documents were signed for the merger of Nicolas Feuillatte and Coopérative Régionale des Vins de Champagne (CRVC) with closing on December 31.

The combined entity will be known as “Terroirs et Vignerons de Champagne”, and is projecting 2022 turnover of €287 million ($322m) on volume of 20 million bottles (1.7 million cases)—including 14.3 million bottles of its own brands—and brings together approximately 6,000 wine growers and 3,000 hectares (7,400 acres) spread over the entire appellation, representing nearly 9% of the Champagne vineyard area.

Terroirs et Vignerons de Champagne’s brand stable includes Feuillatte’s namesake label, the Abelé 1757 brand Feuillatte acquired in 2019, and CRVC’s Castelnau brand, each of which will constitute a “profit center” with direct responsibility for commercial revenues, economic performance, and development, according to the company. Feuillatte president Veronique Blin and CEO Christophe Juarez will hold the same titles at Terroirs et Vignerons de Champagne.

“The creation of this new group is a reflection of the continued consolidation of more and more players in Champagne as well as the need for a restructuring of the cooperative model. It is a response to the downward spiral in vineyard sales observed since the last crisis in Champagne in 2008 where the appellation saw the loss of 40 million bottles on the French market,” Blin said in a statement. Juarez added that the newly enlarged group will strive “to meet the various segments of the market by preserving brand equity, focusing on the international market and not giving in to the pressure of commercial promotions.”

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The 2021 Fine Wine Market Report [Liv-ex] 

2021 has been an exciting year….

All previous records set in 2020 have been broken and surpassed in 2021, marking the most successful year ever for the secondary fine wine market.

Fine wine trading continually broke new ground in terms of the value of wine traded and the sheer breadth of wines now active in the market. Liv-ex Fine Wine 100 index, the industry benchmark (tracks the price performance of 100 most-traded wines in the secondary market), reclaimed and then exceeded its decade-old former peak, while the Liv-ex Fine Wine 1000 rose for 18 consecutive months.

Fine wine collectors returned in force to both classic labels and regions, even as the market base continued to broaden and diversify.

The recent publication of the 2021 Liv-ex Power 100 report explains many of the reasons behind this year’s results. After a challenging start to 2020, the impetus from the latter half of last year continued, unabated, throughout this year.

Key findings in the report:

  • 2021 sets new records for secondary market trade.
  • Fine Wine outperforms FTSE100 and gold.
  • Champagne is the top-performing region.
  • Burgundy’s share of trade hits a new high.
  • Bordeaux trade dips but First Growth share rises.
  • Blue-chip labels rule the roost though the market continues to diversify.

Link to the full report with charts:

https://www.liv-ex.com/2021/12/new-report-fine-wine-market-2021/

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