July 22, 2022
By Murtuza Merchant
Another day, another first for the NFT industry.
In a private event, a champagne bottle featuring the artwork of Bored Ape Yacht Club (BAYC), sold for a record $2.5 million. Created by Shammi Shinh, ‘Magnum of Chateau Avenue Foch’ or Magnum 2.5, is the world’s most expensive champagne bottle.
Let’s take a closer look at the sale of the Bored Apes NFT champagne bottle.
About Bored Apes NFT Champagne Bottle Sale
Italian cryptocurrency investor brothers, Giovanni and Piero Buono bought the first-of-its-kind Bored Apes NFT champagne bottle for a whopping $2.5 million. What’s more, the bottle comes with five NFTs in all, including a Bored Ape, Mutant Ape, and a Sneaky Vampire. The brothers now own both the champagne bottle and the intellectual property and digital NFT artwork rights.
“I don’t plan to drink it, I think it will be a good investment,” Giovanni told the Wall Street Journal. “There is a lot of turmoil in the investment world, things are changing geopolitically very quickly. Wealthy people will look for places to store their wealth for a while—and that could be a champagne with an NFT attached to it.”
Who Created The NFT Champagne Bottle?
Wine distributor Champagne Avenue Foch minted the NFT champagne bottle. Meanwhile, Mig, the artist behind BAYC and the Sneaky Vampire Syndicate NFT collection, designed the bottle. British Entrepreneur, Shammi Shinh is behind the Champagne Avenue Foch.
With this NFT bottle sale, Shinh broke his own record of the most expensive single bottle of Champagne in the world. Back in 2013, he sold Taste of Diamonds champagne for $1.9 million.
The champagne had even been featured in music videos and Hollywood hits such as Marvel’s Justice League.
“NFTs are the new diamonds,” Shinh said earlier. “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.”
Wines, Spirits, and NFTs
This is not the first time that luxury wine and spirits have come with NFTs.
In fact, there is a growing market for luxury wines and spirits linked to NFTs.
To be sure, NFTs help authenticate the products, increase the brand’s reach beyond traditional customers, and even help the brands tap into new revenue streams.
For example, early this year, Australian winemaking company Penfolds partnered with BlockBar to create a vintage wine barrel NFT.
Only a single buyer, picked from a lucky draw, could buy the NFT for $130,000.
More recently, Wine Bottle Club released their genesis NFT collection in partnership with Exclusible.
Some of the NFTs in the collection even comes with exclusive grand cru wines, including Bitcoin La Cuvée limited edition, Château Gruaud Larose, and Château Pape Clément.
About the author
Murtuza Merchant is a senior journalist and an avid follower of blockchain and cryptocurrencies.