May 24, 2022

Collection of fine South African wines sold as NFT

Collections of fine wines made by the leading producers of South Africa were sold in the form of non-interchangeable tokens (NFT), which was the first such event in the wine industry of the country.

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At the auction, which was conducted by the auctioneerfine arts Strauss & Co, some lots, for example, from the collection of Klein Constantia's Vin de Constance 1986-2027, were sold for $ 79,000 (1,251,800 rands).

The cost of other lots, including the "50-yearвepтикaль иx знaмeнитoгo Pубикoнa» винoдeлa Meerlust, пpoдaнa зa $ 68 000. Vilafonté Series C 200З-2027 пpeвыcил $ З6 000, a Mullineux Olerasaу 1-20 peaлизoвaн зa $ 20 000. Koллeкция oт Kanonkop Paul Sauer 2000-2025 ушлa зa мoлoткa зa $ 16,000.

“This is a big step in preserving South Africa's fine wine heritage! Now these pristine vintage bottles are securely stored on the blockchain for future trading and enjoyment.”

“We believe that this new technology isthe most efficient way to package and sell fine wines, especially when origin is so important,” said Strauss & Co fine wine specialist Poland Pins.

Once sold, the issued NFTs are said to “may be played or traded at any time on any NFT platform around the world.” Interestingly, two lots were paid for with bitcoins.

Thanks to the sale for charitable organizations, about $ 6,000 was collected, which will be directed to the development of the wine industry in South Africa.

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