Hennessy unveils Cognac NFTs
LVMH-owned Hennessy Cognac has created its first NFTs, representing ownership of the first and last bottles of a limited edition expression.
The house first launched its Hennessy 8 Cognac, a blend comprised of eaux-de-vies from each generation of its master blenders, in 2017.
Now the producer has unveiled NFTs to accompany the Hennessy 8 bottles numbered 1/250 and 250/250. The assets will be sold to a single buyer on NFT platform Block Bar on 12 January, priced at 70.47 Ethereum (US$226,450).
Dov Falic, CEO and co-founder of Block Bar, said: “Hennessy is renowned for innovation and passing down know-how from one generation to the next, so we’re honoured the Maison has chosen to partner with Block Bar to mark this innovative milestone with its first NFT.”
The buyer will claim ownership of both cryptographic versions of the Cognacs and the bottles themselves. They can either trade the NFT version within the Block Bar marketplace or redeem the physical product, which will then be delivered from the platform’s storage facility.
The physical versions of Hennessy 8 come housed in a chest designed by artist Arik Levy, made from 25 layers of oak staves sourced from the Hennessy cooperage. The chest is accompanied by a copper key, which opens it, as well as a sculpture; a box with four tasting glasses, a pipette and a cork holder; and a personalised authentication plate.
The liquids are packaged in carafes blown, cut and engraved by Baccarat, featuring detailing from Guerlain.
Last month, Top Shelf International premiered NFTs representing Australian agave plants.