Unifred Unifred 16.05.2024

Louis Vuitton-Owned Wine Company Partners BlockBar to Auction NFT Wines

Château d'Esclans, a rosé wine producer owned by the fashion giant Louis Vuitton, has launched its first NFT wine auction, starting at $22,000. The auction is launched in collaboration with BlockBar, a blockchain-powered marketplace for wine and spirits sales directly from producers to consumers.

According to the official announcement from BlockBar, a barrel of Garrus will become the first rosé to be exclusively auctioned using BlockBar’s newly launched leaderboard technology. The barrel will be distributed into four quarters (equivalent to 150L = 200x750ML bottles). It entails that there will be four owners of the auctioned wine.

The NFT auction will be available until May 31st at a starting price of $22,000. Owners of the wine-themed NFTs can resell their tokens on the BlockBar marketplace until June 21st. Those holding the NFT of Garrus, Château d'Esclans 2023 on this date must submit a bottling request via BlockBar to the wine producer. NFT holders can select from four bottling formats –  bottle (750ml), Magnum (1.5L), Jeroboam (3L), and Methuselah (6L).

These NFT holders can also decide whether to receive the physical wine from Château d'Esclans’ headquarters in France or store them in BlockBar’s custody where they can be resold in the secondary marketplace.

All four Garrus rosé owners will enjoy additional benefits within the Château d'Esclans headquarters. Each one will be allowed to bring three additional guests to a VIP tour of the winery and its vineyards on September 13th in the wine producer’s France-based facility. They will also partake in tasting with the winemaker and have lunch with Sacha Lichine, Château d'Esclans’ founder. The owners will also see their names engraved on the Garrus barrel.

Emphasizing that there would be more wine-themed NFT auctions, Lichine said:

“I’m happy to see that we have demonstrated the more noble side to rosè with Garrus; but if I’m being honest, the premiumization of the category is just beginning. The innovation of auctioning a barrel of our finest rosé for the first time on BlockBar is very exciting. We look forward to welcoming the new owners at Château d’Esclans.”

Notably, this NFT auction by Château d'Esclans will bring its owner, Louis Vuitton, deeper into the NFT realm. Through this initiative, LV solidify its stance among the leading fashion brands that have launched NFTs.