Moutai, one of the largest companies in China, has launched a new initiative that links NFTs to its liquor bottles. This is according to an announcement made on February 4. Owners of these unique digital collectibles will have the right to purchase a bottle of limited-edition liquor in real life.
In total, there are 113,960 ‘Lichun-themed’ NFTs that are backed by their physical counterparts, with each NFT tied to a physical bottle. According to the traditional Chinese calendar, Lichun serves as the first of 24 solar terms. It begins when the sun reaches the celestial longitude of 315° and ends when it reaches the longitude of 330°.
Moutai to Issue NFTs for Each Solar Term
Going forwards, Moutai plans to issue NFTs backed bottles of liquor for each of the solar terms. To participate, collectors need to complete various in-game tasks at Xunfeng Digital World, a mobile app that contains a digital replica of Moutai’s winery, which will allow users to earn the NFTs. Alternatively, they can get a hold of the NFTs by conducting trades with other players using in-game tokens.
Player-to-player trades on the mobile app will cost around 1,600 yuan, or $235. That said, a 500-ml NFT-linked bottle will set collectors back about 2,899 yuan, or $427, and 569 yuan for the 100-ml bottle. The total value of the bottles is 139 million yuan, which translates to around $20 million.
The mobile app was launched on January 1 by Moutai and NetEase and managed to attract over 2.4 million users by the end of last month.
Luxury liquor brands tokenizing their physical bottles using NFTs is a growing trend. Over the past few months, several top brands in the liquor market have managed to launch NFTs tied to their bottles using BlockBar. The platform offers NFTs tied to luxury liquor brands such as Hennessy, Glenfiddich, Johnnie Walker, and many others. Holders of the NFTs can exchange their NFTs for the physical bottle, sell the NFTs on secondary markets, and so forth.
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Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the globe.
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