The Glenlivet Distillery Utilizes NFTs and AI to Market $43,000 Whisky
Scotland-based distillery The Glenlivet is using NFTs and AI in its marketing strategy to sell whiskey from a 50-year-old collection. The Glenlivet announced on Monday it was planning to auction off the bottles, which have been maturing at its Speyside distillery in Scotland since 1974.
Discover The Glenlivet: The Twelve Elements. An extraordinary 50-year-old whisky that pays homage to the twelve essential elements of The Glenlivet single malt.
Coming soon – available exclusively on The Whisky Exchange Cabinet. pic.twitter.com/wwSBf7or5q
— The Glenlivet (@TheGlenlivet) February 12, 2024
The Glenlivet, NFTs, and AI
The alcohol distributor used AI to create distinct labels for each bottle in the collection, and a blockchain-based marketplace will be used to facilitate traceability and establish provenance, ensuring transparency in the sale of these spirits.
Each bottle will be priced at approximately $43,000. According to the announcement, the products will be sold on February 21.
The transactions will be conducted on The Whisky Exchange Cabinet, which uses NFTs and blockchain technology to generate digital certificates establishing the authenticity and ownership of each whiskey bottle sold.
The Glenlivet’s cask expert Kevin Balmforth said that the collection represents a glimpse into the future of luxury items.
“As we commemorate 200 years of The Glenlivet, this ultra-rare collection represents a look to the future and offers whisky enthusiasts worldwide a foray into the evolution of luxury investments,” Balmforth said.
In a previous interview with The Drinks Business, The Whisky Exchange CEO Nicolas Oudinot mentioned the influx of projects in the market centered around NFTs. He highlighted his company’s distinctive approach – selling rare whisky bottles while using technology to support their efforts.
Blockchain + Alcohol
This isn’t the first time blockchain has collaborated with the alcohol industry.
In July 2019, beer brewery BrewDog allowed investors to purchase shares using crypto, expanding their crowdfunding initiative.
In 2022, Munich-based MetaBrewSociety offered voting rights on business decisions for a physical brewery through the use of NFTs and a DAO. The company introduced “beer share” certificates, providing varying levels of governance rights for a Munich-based brewery.
