Barley Nectar is excited to announce the launch of the world’s first NFT-backed whisky distillery and club, forging a brand new tech-savvy whisky community. Whilst first and foremost a whisky business, Barley Nectar utilizes blockchain technology and NFTs to deliver unparalleled investment opportunities to this emerging global community, as the platform facilitates transaction and enhances transparency for the trading of the wonder drink.
The brains behind Barley Nectar belong to one of the oldest whisky families in the world, who have worked in the industry for nearly 200 years. By marrying together the craftsmanship and heritage involved in the whisky industry, with the technical innovations made possible by blockchain development, Barley Nectar is creating a whisky brand made by and for its supporters.
Barley Nectar takes members on a journey to create bottles that they want, and to build a new distillery from the ground up. Through this interactive relationship, members are equipped with the power to decide as to the direction of the company and the ultimate product.
“Whisky has become one of the most profitable alternative assets of the past 20 years. However, challenges remain in the high cost of trading and guaranteeing provenance,” said Alistair MacDonald, founder of Barley Nectar. “By pairing whisky with NFTs, we are able to vastly reduce the cost of trading and storage. This approach helps ensure provenance as the stock, trading, and pricing history are all 100% transparent on NFT platforms. Finally, the technology allows us to engage with and foster a global community. As our members are ultimately the decision makers in what we bottle and release – this community aspect is extremely important to us.”
The NFT project is developed by Barley Nectar’s investor, UD, Hong Kong’s pioneer in blockchain and security solutions provider. On top of providing NFT and cryptocurrency solutions, UD also involves in design and execution of the project.
“Using NFTs allow a whole new audience to collect, trade and invest in whisky,” said To Cheung, chairman of UD. “This project benefits both the whisky distillery and the buyers, saving a lot of time and effort on otherwise complicated procedures in purchasing a barrel. For whisky lovers who are just starting out, this will be a great investment as well as a unique opportunity to have real decision making input in to how the whisky is made.”
Priced at US$8,000 each, Barley Nectar is releasing 400 “Angel’s Share” memberships. Named for the integral whisky making process, the membership gives the holders two primary benefits:
- 12 exclusive whisky bottles paired with corresponding NFTs: Every month for 12 months, ‘Angel’s Share’ holders vote on a different whisky cask coming from some of the most popular distilleries in Scotland to finish and bottle. They then receive a redeemable bottle NFT entitling them to a physical bottle from each cask. The bottle NFT holder then has the option of either redeeming the NFT and drinking the bottle, holding on to it, or else trading the ownership to someone else.
- A barrel of whisky: The Angel’s Share digital tokens come alongside the rights to a full physical barrel of whisky (200L, approximately 280 bottles) and 10 years of free storage from their own distillery on completion, access to bespoke tours of Scottish distilleries, and inclusion in their member only auction events.
A series of small group whisky tasting workshops have been held in Hong Kong since end of July for promotion. Private sales are taking place now till the end of September. Public sales will commence from 1 October to 31 December.
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