The renowned rum brand Appleton Estate has announced the launch of its acclaimed drink, ‘The J. Wray & Nephew 17 Year Old,’ as an NFT on the popular non-fungible token marketplace, BlockBar.
Appleton Estate, a renowned rum brand from Jamaica, has confirmed its foray into the Web3 space with the launch of NFTs on the well-known platform BlockBar.
In collaboration with BlockBar, a leading marketplace for wines and spirits specializing in non-fungible tokens, Appleton Estate aims to present its renowned ‘The J. Wray & Nephew 17 Year Old’ as an NFT.
This marks the first time that such a prestigious rum will be offered in this format. Out of the 1,500 unique bottles worldwide, only 36 of these iconic rum bottles will be transformed into non-fungible tokens.
Furthermore, this project involved the collaboration of digital artist Oneika Russell, who created an artwork inspired by tropical patterns, vibrant colors, and archival photographic prints that seek to capture the essence of life on the island of Jamaica.
At the time of writing this article, all 36 NFTs representing this renowned Jamaican rum have been sold. Each non-fungible token is linked to a physical bottle, and to claim the tangible counterpart, NFT owners will have to “burn” their digital asset, meaning they need to destroy it.
Furthermore, the NFTs were initially priced at 0.27 ETH, approximately $500 USD. Currently, there are a total of four NFTs being sold on the secondary market with prices ranging from $1000 to $1400 USD.
Who is Oneika Russell?
Appleton Estate strategically collaborated with Jamaican visual artist Oneika Russell to bring these unique works of art to life as non-fungible tokens (NFTs).
Russell drew inspiration from the vibrancy of Jamaica, its people, stories, and the aesthetic proposed by tropical island culture. What stands out in her art is the exploration of the tensions between the superficial beauty of the tropical paradise and other realities of living on the island.
Oneika’s goal in creating the NFT artworks for Appleton Estate’s 17-year-old rum was to spend a significant amount of time collecting locally-themed tropical fabrics from markets such as Cross Roads and Kingston’s city center.
Each of Oneika’s artworks is carefully crafted and interwoven with unique illustrations of flora and fauna from Appleton Estate. Additionally, she has adapted the brand’s signature Doctor Bird emblem in her creations.
The official Appleton Estate, where these unique 17-year-old rums were exclusively crafted, is located in the heart of Jamaica. To be more precise, it is situated in the city of Nassau Valley.
With over 270 years of experience in the manufacturing and distribution of authentic, premium rums, Appleton Estate utilizes techniques that have been passed down through generations. The rums from Appleton Estate are highly acclaimed by critics, as the ingredients and practices used in their production are exclusive to the Jamaican estate.
What is BlockBar?
BlockBar is a platform that offers digital assets in the form of non-fungible tokens (NFTs) from the world’s finest luxury liquor brands.
Each NFT always corresponds to a physical bottle, and owners of the digital assets have the option to exchange the digital version for the physical version once they have obtained the NFT.
The technological innovation that BlockBar aims to achieve with this new marketplace is to allow customers to own the physical luxury bottle, while the company stores the digital version as proof of authenticity, ownership verification, and the right to receive the physical bottle once the NFT is burned.
This innovative liquor marketplace seeks to demonstrate authenticity through the Ethereum blockchain. By forming various partnerships with other brands, BlockBar aims to streamline the process and ensure that those interested in the bottles have verified authenticity.
BlockBar has been working for some time now, showcasing exclusive spirits on its marketplace. For example, in September 2022, the platform auctioned an NFT linked to a bottle of ‘1800 Colección Tequila’ and the rare decanter called “El Rey del Tequila,” produced by renowned artist Leonora Carrington.
Additionally, in May 2022, Monkey Shoulder, the blended malt Scotch whisky brand from William Grant, was launched as an NFT on the BlockBar platform.
Furthermore, BlockBar has formed multiple partnerships with brands such as Patrón Tequila, Glenfiddich, and Ardbeg Fon Fhoid, aiming to enhance its reputation and establish itself as the leading brand in the market for exclusive liquor bottles in the form of non-fungible tokens (NFTs).