Penfolds launches Superblend wine duo as NFT

The release of Penfolds Luxury 2018 Superblend bottlings form the first NFT wine auction held on BlockBar.com, with a starting bid of $25,000.

Penfolds has partnered with BlockBar, a direct-to-consumer non-fungible token (or NFT) marketplace for luxury drinks, to launch two wine NFTs.

NFTs function as digital receipts that confirm and authenticate buyer ownership of two wines: a 2018 Superblend 802.A Cabernet Shiraz and a 2018 Cabernet Shiraz 802.B. Both bottlings are six-litre “imperial” formats which are generally reserved for the Penfolds Museum and are not available for general retail purchase.

The auction began at 10:00 a.m. EST on Monday, April 11 and will run until 10:00 a.m. EST on Wednesday, April 13. Bids can be made either in Fiat currency or in Ethereum (ETH) cryptocurrency.

The auction follows previous collaborations between Penfolds and BlockBar, as Penfolds Marketing Director Kristy Keyte explains.

“The release of these special Superblend NFTs follows two very successful Penfolds x BlockBar NFT Drops.”

“The response to date has been overwhelmingly positive. Penfolds first NFT, linked to a 2021 Magill Cellar 3 barrel, sold in less than 12 seconds for US$130,000,” Keyte explained.

“Our second NFT release, tied to 300 bottles of Magill Cellar 3 2018, sold out in less than 10 hours. We look forward to seeing the response to our version of Superblend.

If the winning bidder has already purchased one of these prior NFTs as the original owner, they will also receive a free Penfolds carafe.

Dov Falic, CEO and co-founder of BlockBar, expressed his joy in working with Penfolds for the auction.

“We are thrilled to once again partner with Penfolds to bring BlockBar’s first ever NFT wine auction with an extremely rare offering for our loyal community,” Falic said.

As part of the offer, the NFT buyer will receive a complimentary 750ml bottle of each wine to taste in a private virtual session alongside Penfolds Chief Winemaker Peter Gago.

The wines are described as “essentially siblings raised in different environments” and contain “significant parcels of Barossa Valley fruit, McLaren Value and Coonawarra”.

The 802.A wine is made from 68% Cabernet Sauvignon and 32% Shiraz, with the constituent wines being individually aged in American oak barrels for 22 months, prior to blending.

The 802.B blend has a more even distribution, with Cabernet Sauvignon making up 55% and Shiraz the remaining 45%. The component wines were blended after the vintage and aged in French oak barrels for 19 months. Penfolds thinks this wine is well suited to cellar aging.

The winning bidder will obtain an authenticity record held on the blockchain as a digital certificate of ownership. They are then able to “redeem” the physical products (the wine bottles themselves) or can choose to trade the NFTs through BlockBar’s marketplace. A “virtual bar” and gift options are also available.

About Michael Brafford

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