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NFT Tied to Rare Whiskey Cask Auctions for $2.3M

A non-fungible barrel of 1991 Macallans scotch set whiskey auction records Friday, nabbing $2.3 million on NFT marketplace Metacask.The sale 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-of-deed for the cask of the whiskey. It was minted on the Ethereum blockchain.Co-founder Nim Siriwardana said Metacaskminted and auctioned the cask NFT 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 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.

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