Crockpot and Glenfiddich launch first food & drink NFTs
Crockpot has launched its first NFT, while BlockBar will sell a rare Glenfiddich whisky-linked NFT
The food & drink industry’s rush to join the queue of brands releasing non-fungible tokens (NFTs) continues with key historic and luxury brands poised to expand beyond the boundaries of NFT innovation.
The Crockpot NFT
First, Crockpot, creators of the original slow cooker, announced that it has created its first-ever NFT in honour of the 50th anniversary of the Crockpot brand.
Speaking about its NFT, the company said: “The NFT itself is a GIF displaying the product and brand’s evolution from its inception in 1971 to its newly conceived Design Series, which launched just last month.
“It features Crockpot brand designs over the years, one per decade – beginning with the original Slow Cooker before morphing into newer models, much like the flavours blending perfectly together in a Crockpot.”
The company also said its aim in dropping the NFT is to “appeal to the next generation of creative cooks at home by bringing the brand into the IoT [Internet of things] and reintroducing the classic appliance in new, modern designs”.
Any proceeds from the NFT auction will be combined with the brand's existing Hunger Action Month donation to Feeding America. At the time of writing, the Crockpot NFT has not yet received any offers.
The Glenfiddich NFT
In another food & drink industry first, it has just been announced that the world’s first NFT Bar, the BlockBar, will open on 19 October with the sale of 15 rare, limited-edition,autumn gold-coloured whisky liquor bottles from luxury Scots whisky producers Glenfiddich – one of the world’s most-awarded Single Malt Scotch Whisky brands.
Glenfiddich has partnered with the NFT marketplace to to launch its series of 15 limited-edition liquor NFTs via BlockBar. Each digital NFT corresponds to an actual, physical, 70cl bottle of the brand’s 46-year-old, vintage 1973 Armagnac cask-finish single-malt scotch whisky.
“The 15 bottles will be sold at $18,000 per bottle and we are already looking at the future pipeline of releases with BlockBar,” a Glenfiddich spokesperson told Currency.com. The bottles will be sold on a first-come, first-served basis.
With the NFTs serving as a digital receipt that verifies the buyer’s ownership as well as the authenticity of the product, buyers will have the right to drink or re-sell their bottles as they prefer.
“This is an exceptionally rare example of 1973 Glenfiddich, a 46-year-old whisky, which has spent more than two decades in an Armagnac cask, and is a fitting spirit for the launch of Glenfiddich’s first and exclusive NFT release on BlockBar,” commented Glenfiddich malt master Brian Kinsman.
BlockBar is working with FireBlocks’ digital-asset custody infrastructure and Chainalysis’ compliance technology to be able to store the physical bottles securely as well.