The Glenlivet tapped NFTs to provide digital certificates of ownership and authenticity for its rare whisky collection.
Scotland-based distillery The Glenlivet has turned to nonfungible tokens (NFTs) and artificial intelligence (AI) to help sell bottles of a 50-year-old whisky priced at around $43,000 per bottle.
On Feb. 13, the company announced that it will be selling 12 bottles from a whiskey collection that has been maturing at the Speyside distillery in Scotland since 1974. The alcohol distributor used AI to generate unique labels for each of the bottles in the collection and is using a blockchain-based marketplace to allow traceability and provenance for selling rare spirits.
The sales will be conducted through a marketplace called The Whisky Exchange Cabinet, which uses NFTs and the blockchain to create digital certificates of authenticity and ownership for each bottle of whiskey they sell.
