Singapore markets open in 1 hour 29 minutes
  • Straits Times Index

    3,101.93
    +9.82 (+0.32%)
     
  • S&P 500

    4,538.43
    -38.67 (-0.84%)
     
  • Dow

    34,580.08
    -59.72 (-0.17%)
     
  • Nasdaq

    15,085.47
    -295.83 (-1.92%)
     
  • BTC-USD

    49,201.14
    +28.21 (+0.06%)
     
  • CMC Crypto 200

    1,367.14
    -74.62 (-5.18%)
     
  • FTSE 100

    7,122.32
    -6.89 (-0.10%)
     
  • Gold

    1,783.60
    -0.30 (-0.02%)
     
  • Crude Oil

    67.44
    +1.18 (+1.78%)
     
  • 10-Yr Bond

    1.3430
    -0.1050 (-7.25%)
     
  • Nikkei

    28,029.57
    +276.17 (+1.00%)
     
  • Hang Seng

    23,766.69
    -22.21 (-0.09%)
     
  • FTSE Bursa Malaysia

    1,501.74
    0.00 (0.00%)
     
  • Jakarta Composite Index

    6,538.51
    -45.31 (-0.69%)
     
  • PSE Index

    7,055.19
    +22.65 (+0.32%)
     

NFT Tied to Rare Whiskey Cask Auctions for $2.3M

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

A non-fungible barrel of 1991 Macallans Scotch set whiskey auction records Friday, nabbing $2.3 million in the form of an non-fungible token (NFT).

The sale, hosted by NFT marketplace Metacask, surpasses the previous cask sale record price of $574,000 for a similar barrel at auction house Bonhams last August. This edition came bundled with digital art from Trevor Jones.

A pseudonymous buyer who goes by “oldcask” outbid two other bidders active in digital whiskey investments, a PR representative told CoinDesk. The company declined to identify the buyer.

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

Co-founder Nim Siriwardana said the cask NFT was minted and auctioned to showcase the appeal of digitally transferable rights.

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

NFT sales have become increasingly mainstream and popular during the coronavirus pandemic. Sales volumes surged to $10.7 billion in Q3 of 2021, more than eight times more than the second quarter, according to data by DappRadar.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting