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NFT Tied to Uncommon Whiskey Cask Auctions for $2.3M

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A 1991 non-fungible barrel of Macallan’s Scotch broke records in whiskey auctions on Friday, snapping $ 2.3 million on NFT’s Metacask marketplace.

The sale surpasses the previous record price of $ 574,000 for a similar barrel at Bonhams auction house last August. This edition has been bundled with digital art by Trevor Jones.

A pseudonymous buyer selling in the old barrel outbid two other bidders involved in digital whiskey investments, a PR representative told CoinDesk. The company declined to identify the buyer.

The NFT serves as the digital title of the certificate for the barrel of the whiskey. It was minted on the Ethereum blockchain.

Co-founder Nim Siriwardana said Metacaskminted and auctioned the barrel of NFT to showcase the appeal of digitally transferable rights.

“Buyers don’t have to go to a physical auction house to purchase rare and valuable real assets like whiskey,” Siriwardana said in a statement.

NFT sales have become more mainstream and popular during the pandemic. According to data from DappRadar, the sales volume rose to $ 10.7 billion in the third quarter of 2021, more than eight times more than in the second quarter.

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