'Vintage Of The Century' Wine Collection To Be Sold Via NFT

Australian winemaker Dave Powell is all set to be the first wine merchant in the world to trade an entire vintage range of wines by NFT. The Barossa vintage will be sold this year as single-vineyard vintage wines under the virtual label of OpenSea, which is under his new brand, Neldner Road.

As per the DappRadar, a company that tracks data on crypto-based applications, NFT market exceeded $10 billion in transaction volume as forecasted in the third quarter of 2021.

Powell, founder of Torbreck and more recently Powell & Son, says the decision to sell the vintage collection of 100 barrels in this manner is owing to the struggles with COVID-19 and geopolitics, as reported by Wine Industry Advisor.

“I’ve always liked to try new things, and when I found out about NFTs, it seemed to fit well with wine,” he said, as reported by Businesswire. "This reminds me of how wines are sold in Bordeaux through their en primeur system."

Like en primeur, people who purchase an NFT could be at an advantage over the regular wine buyer, who will pay the total retail price once the wine hits the open market. NFTs guarantee provenance, which is excellent, but it’s more about bringing my wines to a new audience who I think will be interested in what we’re doing," Powell said, according to WBMOnline.

“Like the more ‘traditional’ NFT products, our wine is rare – just 100 barrels; it’s unique – every vintage is different; and it’s the original collectible – the oldest personal wine collection we know of dates back nearly 4,000 years,” he added, according to the outlet.

Powell has surpassed portions of the ultra-luxury wine auctions like the Naples Winter Wine Festival and the Napa Wine Auction, and included within the NFT a package of one-of-a-kind experience to complement the wines, as below:

• Working a day’s vintage with Dave Powell and his crew alongside dinner together
• The barrel being bottled into personalized wine bottles for an individual or corporate entity
• Wine cellared by Neldner Road
• Barrelhead with a customized plaque as a keepsake

Some barrels also come with a hologram of the barrel for owners to display at home, and there are one-of-a-kind travel and hospitality experiences with Dave at his house for buyers who buy multiple NFTs or the entire vintage.