A whiskey distributor uses NFTs and AI to sell a 50 year old collection
Scotland-based distillery Glenlight turned to intangible tokens (NFTs) and artificial intelligence (AI) to help sell a bottle of 50-year-old whiskey.
In the year On February 13, the company announced that it will sell 12 bottles of its whiskey, which has been maturing at its Speyside distillery in Scotland since 1974. The alcohol distributor uses AI to generate unique labels for the bottles in stock. It's using a blockchain-based marketplace to sell rare spirits.
The sale takes place through a marketplace called The Whiskey Exchange Cabinet, which uses NFTs and blockchain to create a digital certificate of authenticity and ownership for each bottle of whiskey sold.
Whiskey Exchange CEO Nicolas Oudinot said in a previous interview with Drinks Trade that many projects are entering the market focusing on NFTs. However, the executive said they are going “in the opposite direction” by focusing on selling the rare bottles of whiskey that the technology enables.
Glenlivet box expert Kevin Balmforth said the collection represented a “look to the future” as they celebrated 200 years in business. According to the announcement, the products will be sold on February 21.
While the interaction between blockchain and alcohol may be an interesting combination, this is not the first interaction between the two industries. In the year In early 2019, projects are experimenting with blockchain and alcohol integration. In the year July 5, 2019 Beer brewery Brewdog has allowed investors to buy shares with cryptocurrencies, extending its fundraising initiative.
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In the year 2022 Munich-based MetaBrewSociety offers voting rights over physical brewery business decisions using NFTs and a decentralized autonomous organization (DAO). The company issued a “beer share” certificate to provide various management rights to a brewery in Munich.
In the year In 2023, mobile phone company Nokia began developing Metaverse use cases that would connect breweries remotely. Researchers at the Brewery Technology Laboratory in Australia have worked with researchers in Germany using augmented reality (AR).
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