NFT Tied to Rare Whiskey Cask Auctions for $2.3M

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

The sale surpasses the earlier cask sale report worth of $574,000 for an identical 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 advised 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 stated Metacaskminted and auctioned the cask NFT to showcase the enchantment of digitally transferable rights.

“Buyers don’t need to go to a physical auction house to acquire rare and valuable real assets like whisky,” Siriwardana stated in a press release.

NFT gross sales have develop into more and more mainstream and widespread throughout 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.