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One of the world’s biggest spirits brands is leveraging NFTs to tokenise limited edition bottles of liquor.
Moutai is launching its own NFT collection. Indeed, the icon of Chinese liquor culture is minting 113,960 Lichun-themed NFTs, which are each tied to a physical bottle of liquor.
Lichun marks the first of 24 solar terms in the Chinese lunar calendar. Hence, Moutai plans to release limited edition bottles of liquor for each solar term – backed by an NFT.
Alcohol and NFTs
It’s easy to see why Moutai is making the giant leap into Web3. In fact, they’re not the first alcohol brand that has tied NFTs to limited edition bottles of booze. For instance, on BlockBar Marketplace, you can purchase a variety of limited edition bottles from brands like Johnnie Walker and Hennessy.
In essence, having ownership of an NFT gives you a digital token, which is traceable on the blockchain. With ownership of this token, you can redeem it for all kinds of benefits. What is more, your bottle of Hennessy, for example, may increase in value over time – making it an investment opportunity.
Thus, Moutai is creating its own journey of bottle tokenisation, starting with the Lichun-themed bottle. Moreover, to participate, you will need to complete tasks within Moutai’s own, mobile metaverse – Xunfeng Digital World.
Moutai’s metaverse
Xunfeng Digital World opened its doors on January 1st 2023. By the end of January, the mobile application had over 2.4 million registered users. In the smartphone application, there is a virtual vineyard, and players can earn NFTs that can be used to buy alcohol using fiat currency.
In total, Moutai’s NFT collection is worth 139 million yuan, which is more than $20 million in value. Furthermore, the NFT-linked bottles can be bought for yuan 2,899, which is $427 for 500 ml, and 569 yuan for 100 ml.
In summary, you will be seeing much more of Moutai in the metaverse – so stay tuned for further drops.
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By: Max Antony Rapkin
nftnewstoday.com
