Beverage Industry NFTs Make a Splash

NFTs (aka Non-Fungible Tokens) have quickly filtered into the beverage industry, much like they’ve infiltrated almost every other industry in the world. But what exactly are they?

The phrase “non-fungible token” is already fairly confusing, so let’s break it down. “Non-fungible” by definition, means “unique.” A fungible element would be something that could be easily replaced and replicated – such as a bottle or can of a widely available macro lager.

Sometimes, such as in the case of a few examples you’ll hear about later, digital NFTs have a real-world equivalent. As such, think of the “non-fungible” aspect of NFTs like the title of a car or the deed to a house.

Tokenizing (aka minting) is the process of someone staking a claim of ownership on the blockchain of a specific digital asset – such as a beverage industry NFT. There are many blockchains, some of which you might have heard of (Bitcoin, Ethereum, Solana, etc.), and as long as the NFTs are minted on them, they are safe, secure and tamper-proof.

So where do beverages fit in!? Great question.

There have been a bevy of news items recently that involve NFTs in the beverage sphere, including the world’s most expensive champagne being sold as an NFT collaboration with Bored Ape Yacht Club, one of the most notable NFT artwork creators.

A 1 of 1 champagne release, called Champagne Avenue Foch, by luxury champagne connoisseur Shammi Shinh, the Bored Ape Yacht Club and Allouchery in Chamery was made using 100% Premier Cru grapes and was sold for a staggering 2500 ETH – breaking the record for most expensive champagne ever sold at $2.5 million USD.

Shammi Shinh said in a release: "NFTs are the new diamonds. This 1 of 1 bottle features art from NFT collections that have over a billion dollars in sales. Encrusted with diamond-cut Swarovski crystals with pure pewter embedded in the design, I wanted to create something timeless for the modern investor, nothing less of a masterpiece. As it is sold as an NFT, I expect it to be traded a few times in the marketplace before the physical bottle lands with the right individual who will HODL. In order to receive the physical champagne bottle, the buyer will need to burn the NFT. The champagne itself is a work of art and unmatched quality." (Editor’s Note: Just for reference, in crypto-speak, “HODL” has come to mean “hold on for dear life.”)

Crying Eagle Brewing Co. in Lake Charles, Louisiana also got in on the NFT fun in the beer world. To coincide with the brewery's release of its Divine Imagination Double IPA, they offered 50 unique NFTs that correspond to the can artwork.

Beyond record-breaking champagnes, some breweries are getting in on the action as well. Dunes Brewing in Port Orange, Florida has announced the first craft brewery NFT Mug Club.

According to a release from the brewery, “the new NFT (non-fungible token)-powered, limited-edition, mug club is the first of its kind with tangible and virtual assets and value. The Dunes NFT Mug Club will start with only 100 mugs. The freshly brewed membership unlocks perks in one of three tiers – Special, Rare and Ultra-Rare – over the course of five years: also, a first for any mug club. Starting at $395, members will receive exclusive numbered NFTs, discounted beer, limited-edition merchandise, invitations to exclusive parties at Dunes Brewing and much more – a value starting at $2,500.”

Crying Eagle Brewing Co. in Lake Charles, Louisiana also got in on the NFT fun in the beer world. To coincide with the brewery's release of its Divine Imagination Double IPA, they offered 50 unique NFTs that correspond to the can artwork. The NFTs will roll out on NFT marketplace Gigantic, which was co-founded by Crying Eagle President Eric Avery. “It is our hope that the NFT rollout for Divine Imagination exceeds expectations of world-class brand building and high-tech marketing. If so, we look to tap into our industry contacts to make the Gigantic Network a premier NFT marketplace for craft breweries and artists alike,” said Avery.

Lastly, The Dominick hotel in Soho, New York – a five-star establishment with a Michelin star menu – has announced an NFT cocktail with collaboration artwork from famed NFT creator Varvara Alay, creator of the Flower Girls series. The cocktail will be available in the hotel’s upcoming NFT suite, which was also designed by Alay.

It seems like NFTs are here to stay in the world at large, even as their value fluctuates wildly on a day-to-day basis. As they continue to remain relevant, breweries and beverage manufacturers will continue to find ways to incorporate in them in their business plans in engaging ways.

The Dominick hotel in Soho, New York – a five-star establishment with a Michelin star menu – has announced an NFT cocktail with collaboration artwork from famed NFT creator Varvara Alay, creator of the Flower Girls series. The cocktail will be available in the hotel’s upcoming NFT suite, which was also designed by Alay.