Key points
- Treasury Wine's Penfolds brand launched its second NFT this week
- BlockBar users can now purchase tokens representing bottles of an "ultra-rare" Penfolds wine
- Its follows the launch of an NFT representing a barrel of Penfolds wine in November
Owners of Treasury Wine Estates Ltd (ASX: TWE) shares might be interested to learn of the company's foray into non-fungible tokens (NFTs).
Indeed, one of the company's crowning brands, Penfolds, has dipped its toes into the blockchain universe not once, but twice, launching its latest NFT earlier this week.
That's right, the brand offers NFTs representing real bottles of rare wines as part of its partnership with luxury drinks-focused NFT marketplace, BlockBar. Let's take a closer look at the seemingly unlikely offering.
At the time of writing, the Treasury Wine share price is $11.50.
Could this be the future of luxury liquor purchases?
Whether you're an enthusiast of wine, NFTs, or shares, Treasury Wine has something for you.
The company's Penfolds brand offers NFTs representing bottles of rare wines or, for true connoisseurs, an entire barrel of an exclusive vintage.
For those who might not be across NFTs, they are unique digital tokens representing ownership over something. Often, they represent ownership of a digital artwork or the like.
However, a Penfolds NFT represents a bottle of wine, stored by BlockBar and ready to be redeemed by its owner.
Penfolds' latest token represents an "ultra-rare" bottle of Penfolds Magill Cellar 3 cabernet sauvignon shiraz from the 2018 vintage. Only 14 barrels of the wine were ever made and bottles aren't available for retail purchase.
Those looking for a larger – or, perhaps, more interesting – liquor investment, might be interested in a barrel of Penfolds Magill Cellar 3 shiraz cabernet from the 2021 vintage.
The barrel was Penfolds' first NFT. It launched in November, with one lucky buyer being randomly selected to buy the token for US$130,000.
Excitingly, the barrel NFT won't be around for long. As of October, the real-world barrel will be bottled and the NFT replaced by 300 bottle NFTs.
Whoever is holding the barrel NFT at the time of bottling will receive a keepsake barrel head and several exclusive experiences.
Then, from October 2023, anyone who owns one of the 300 bottle NFTs can redeem their rare wine.
BlockBar allows the purchase of NFTs using Ethereum (CYRPTO: ETH) or a credit card.
Treasury Wine share price snapshot
Sadly, 2022 hasn't been kind to the Treasury Wine share price so far.
Year to date, its shares' value has fallen 8%. However, they're still trading for 24% more than they were this time last year.
