NFTs for a range of South African vintage wines.
Sets of exquisite wines from South Africa were reportedly auctioned as non-fungible tokens (NFTs), including one lot fetching $79,000. Two things were apparently paid for just using bitcoins straight after the bidding.
Collections of premium wines from some of South Africa's best producers have been marketed as non-fungible tokens (NFTs), which was the first in the nation's wine sector. Strauss & Co, a fine art auctioneer, oversaw the sale, which had seen certain pieces, such as Klein Constantia's Vin de Constance linear collections from 1986 to 2027, sell for $79,000. (R1,251,800).
Other selections that outperformed expectations included winemaker Meerlust's "50-year verticals of their legendary Rubicon," which sold for $68,000.
Vilafonté Series C 2003-2027 fetched $36,000, while Mullineux Olerasay 1-20 fetched $20,000. Kanonkop Paul Sauer's oeuvre, 2000-2025, got $16,000 at auction.
Roland Peens, a fine wine consultant at Strauss & Co, remarked following the transaction, "It is indeed a huge step towards protecting South Africa's great wine history!" These flawless antique wines are now safely stored on the blockchain for prospective deals and consumption. We feel that this innovative innovation has been the most effective means of manufacturing and marketing antique wines, particularly in this day and age when attribution is so important.
Whereas each assortment is an NFT, particular wines will be minted' as NFTs and "maybe chosen or exchanged at any moment on any NFT platform across the world," according to an announcement made following the auction.
2 different units were purchased using bitcoins straight after the auction, according to the announcement. Additionally, the governance framework stated that even a minimum of $6,000 was collected for nonprofits important to South Africa's wine sector at the same time.