Investment platform Vint releases Judge Palmer’s NFTs
A first for a Sonoma-cellar-based NFTs allow investors to own three bottles of Judge Palmer Cabernet Sauvignon wine signed by the winegrowers.
“Wine has long been the ultimate collectible, so I think the NFT space is a natural extension for the wine market,” Emmitt said. “An NFT is the perfect way for collectors to keep a digital record of a favorite wine vintage, a reminder of the experience long after the bottle has been consumed.”
The wines – Judge Palmer 2013 Cabernet Sauvignon, Ellis Alden Vineyard, Alexander Valley; Judge Palmer 2015 Cabernet Sauvignon, Beckstoffer To Kalon, Napa Valley; and Judge Palmer 2011 Cabernet Sauvignon, Beckstoffer Georges III, Napa Valley – are extremely rare. Fewer than two crates are left in the cellar and Wine claims that no inventory is available for purchase through other channels.
“We’re trying to move the wine industry forward with technology,” said Vint’s wine manager Billy Galanko. “We are continually trying to push these new technologies to foster accessibility on one side and give additional visibility to producers on the other.”
In addition to the wines, which can only be shipped within the United States, the NFTs include two tasting experiences. Experiences consist of a virtual tasting of NFT Collection wine led by Emmitt-Scorsone owners and winemakers, as well as a private in-person tour of the winery and vineyard complete with a tasting of select wines.
Buyers will also receive an invitation for two guests to attend a “harvest winemaker dinner” and a first right of refusal to acquire the next NFT vintage wine offered by the producer.
“Once they’ve drunk a bottle, a lot of people who love and collect wine peel off the label and stick it on a book almost like a scrapbook to show people,” Galanko said. “But with our NFTs, investors first have this virtual cellar that they can show people. Then, after the wine is sold out, they can tell people its overall value: “I went to that vineyard” or “I met the guy and he told me about the wine.”
Galanko believes that this added value is making NFTs increasingly popular with winemakers, who see them as an opportunity to access a new market. “The NFT is a vehicle. Many of our investors are people who understand that wine is a good investment, but also buyers who are getting into wine and trying to diversify their portfolio but need an extra boost,” he said. he declares.
The NFTs will be auctioned on the Ethereum-based platform Rarible and sold in USDC, a digital stablecoin pegged to the US dollar. Auctions will begin at 7:00 a.m. Pacific Standard Time (PST), or 3:00 p.m. GMT, and will start at $600 USDC for Alexander Valley wine and $675 USDC for Napa Valley labels.