Nfts
LVMH-owned Château d’Esclans + BlockBar sells NFT wine for $22,000
Last updated: May 15, 2024 at 11:56 a.m. EDT | 2 minutes of reading
Wine producer Château d’Esclans, owned by Louis-Vuitton (LVMH), and spirits-focused blockchain marketplace BlockBar launched an NFT edition of the winemaker’s famous Garrus rosé on Monday.
“Château d’Esclans makes history with the first ever sale of a barrel of Garrus using our innovative new grading technology, exclusively on BlockBar”, the wine and spirits chain Reading the NFT platform announcement. “As the first rosé on BlockBar, this single barrel is presented to collectors and wine aficionados who have the opportunity to purchase a quarter barrel (equivalent to 150 L = 200 bottles of 750ML) of Garrus, Château d’Esclans 2023 .”
Château d’Esclans launches the NFT Garrus Rosé bottle with BlockBar
According to the Château d’Esclans website, Garrus rose comes from a vineyard composed of century-old wines and fermented in new age oak barrels, making it the “best wine” of the vineyard.
Buyers of the Garrus rosé NFT can choose from three select bottle sizes: Magnums, Jeroboams, or the massive 1.5 gallon Methuselah.
Additionally, buyers will receive a VIP tour in September of the winery and vineyards alongside three guests. They will have lunch with the founder of the estate, Sacha Lichine, or the vice-president Paul Chevalier while receiving their name engraved on a barrel.
Château d’Esclans makes history with the first ever sale of a barrel of Garrus using our innovative new grading technology, exclusively on BlockBar.
The first rosé on BlockBar, this single barrel is presented to collectors and wine aficionados who have the opportunity… pic.twitter.com/vVfdNiLKKt
-BlockBar (@BlockBar) May 13, 2024
Bidding for a portion of the highly sought-after NFT Garrus rosé bottle will start at $22,000 and end on May 31.
In 2019, LVMH takes a 55% stake in Château d’Esclansalthough the amount is not disclosed.
Louis Vuitton expands into the metaverse and NFTs
LVMH’s investment in the NFT-related wine industry marks one of its latest initiatives in its long and storied history of developing luxury digital products on Web3.
In August 2021, the luxury giant unveiled a free NFT offer called Louis: The Game. The game made players aware of the brand while simultaneously providing them with digital rewards.
In January 2022, Bernard Arnault, CEO of LVMH further highlighted the fashion house’s focus on its metaverse expansion, saying it could have a “positive impact” if “done right.”
In June 2023, the company launched its VIA project for Web3 application only alongside a $41,000 digital trunk inspired by the iconic LV trunk, aptly named “The Treasure Trunk.”
A company release at the time said the project was “designed for those seeking to journey through new dreams and realities and collect unique creations along the way.”
Most recently, the company announced the sale of its NFT-related varsity jacket for its VIA NFT holders in a collaboration with record producer Pharrell Williams.
The partnership between BlockBar and Château d’Esclans, owned by LVMH, could reflect a growing desire for merger Web3 technologies in the luxury food and beverage area.