Can you share a couple of the key insights that you would like to share at the event?
BlockBar is creating a new legacy for the traditional luxury wines and spirits industry by using NFTs to solve real issues brand owners and consumers face: authenticity, transparency, quality assurance and storage. We are the world’s first DTC NFT marketplace for luxury wines and spirits and we were born to democratise the traditional industry allowing everyone, anywhere in the world to participate. We believe that the future of purchasing, collecting and investing is centered around communities, and we aim to build value for our BlockBar NFT holders through our partners including Hennessy, Glenfiddich, Penfolds, Royal Salute, Patròn and more. This is the future.
What do you see as some of the most important opportunities for the luxury sector or your brand?
We believe the future of luxury is about democratising the experience for as many people as possible. Many luxury sectors such as fine wine and spirits are extremely exclusive and access is still incredibly difficult to gain. We aim to change this. BlockBar wants to provide an accessible point of investment for both crypto enthusiasts who are keen to access fine wines and luxury spirits, and for luxury wines and spirits collectors looking to get into crypto and/or NFTs for its different use cases. We are seeing a totally new luxury consumer for brands to reach through BlockBar on a global scale.
What are some of the greatest challenges for the luxury sector or your brand?
Counterfeit wines and spirits, storage, access and quality assurance are all challenges faced by the traditional wine and spirits industry. However this is where BlockBar and NFTs play a huge role solving issues which brand owners and consumers have experienced for years. Upon purchase of a bottle, the cryptographic version will be held securely by BlockBar with a record of authenticity held on the blockchain as a digital certificate of ownership. The buyer may choose either to redeem the physical product and have it delivered from BlockBar’s secure storage facility in Singapore (where it’s looked after in the right conditions) or to safely trade its NFT version within the BlockBar.com marketplace, without the physical product moving from BlockBar’s storage facility. In short, the NFT serves as proof of authenticity, verification of ownership, and the right to have the collection redeemed at anytime, anywhere in the world.
What are you looking forward to taking part in at the Summit?
Walpole is the leading luxury voice for British luxury and a true global icon, so we are delighted to be invited to lead the web3 conversation for the luxury wines and spirits industry. We’re only a few months into our journey and therefore speaking alongside some of the world’s leading, rich-in-heritage luxury brands is a real honour. We hope to demystify everything about crypto, asset backed NFTs and the huge potential web3 presents for luxury wines and spirits.
See all the speakers at the Walpole British Luxury Summit 2022.