Buffalo Trace Distillery Auction Burnable Bourbon Bottle NFTs on BlockBar

In an about-face, the US government has announced that it will allow private companies to auction real-world assets as pieces of digital currency. This new method of trading is being pioneered by Buffalo Trace Distillery with its Burnable Bourbon Bottle NFTs which are only available for a limited time and cannot be resold or transferred again in any way.

The “Buffalo Trace Distillery Auction Burnable Bourbon Bottle NFTs on BlockBar” is a NFT that was created by the Buffalo Trace Distillery. The bottle of bourbon can be bought for $1,000 and then sold for $10,000.

The legendary Buffalo Trace distillery is auctioning off a total of five 6 liter bottles of 19-year-old O.F.C Vintage 1982 Bourbon Whiskey in a humanitarian endeavor to assist numerous causes. Bids on the bottles will, as the auction house, BlockBar, implies, be bids on NFTs that represent each bottle, allowing the bottles to be vicariously exchanged via NFTs without having to leave the NFT platform’s storage facilities. 

The five bottles, described as having “exceptional richness and butteriness with layers of apple, nuts, matured pear, dark Belgian chocolate, caramel, and a hint of black cherries,” will be auctioned between March 14th and March 18th, with a starting price of 9.58 ETH (about $2,500). 

BlockBar, a well-known brand in the Wine and Spirit NFT sector, will keep each bottle in storage until the appropriate owner wants it be delivered. Owners may choose to defer delivery of the bottle for as long as they like, or swap the NFT to another whiskey fan, but once the bottle is delivered, the NFT will be burned (though 6 litres of gold-standard booze can be savored).  

World Central Kitchen, The James Beard Foundation, Elton John Aids Foundation, The Art of Elysium, and 261 Fearless will all benefit from the auction earnings.

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