Posting your rating...
« Back to Posts

NFTs + Rum?


Sign up or Log In to change notification settings.

Andy (PREMIUM)

Posted 7 Dec '21 from United Kingdom with 116 ratings

I know this isn't a typical RR discussion, but I've been learning a little more about NFTs recently, and specifically how it allows for fractional ownership. The whole https://www.constitutiondao.com/ specifically peaked my interest. Some platforms like https://fractional.art/ even facilitate the process. Any chance a few rum folks are also in the NFT/shared ownership space?

Just thinking out loud, I've always throught it might be fun to as a group buy an extremely rare rum or a cask (or multiple?). But the admin load seemed quite high. I wonder if using an NFT might make the process easier and also more liquid by listing it on something like https://opensea.io/? Possibly involving a broker like https://www.rum.nl/ to source/store would be helpful as well.

kudzey (PREMIUM)

From Poland with 38 ratings Replied 7 Dec '21

Just had a conversation about it yesterday! Wow!

Unfortunately, I find no use of NFT for rums. Even though some are highly collectible, rum is meant to be drunk at some point. Once spread between multiple owners, the chance of the bottle ever being opened decrease significantly. 

Andy (PREMIUM)

From United Kingdom with 116 ratings Replied 7 Dec '21

I guess in theory with a decentralized autonomous organization (DAO) the group could decide whether to hold the bottle/cask for investment purposes or drink the contents at some point? My first thought was for it to start as more of an investment vehicle, but it would also sure be cool to get a mini bottle of some excellent expensive rum as well that we'd never buy on our own.

kudzey (PREMIUM)

From Poland with 38 ratings Replied 7 Dec '21

I've also been thinking about buying an expensive bottle in a group of 20-40 people and sharing samples, that would make it much more accessible. I would really prefer to have 70 different 1cl samples than a 70 cl of one legendary rum. 

It would be pretty cool if the bottlers just issue samples directly to the market.

Rene Rum (PREMIUM)

From Switzerland with 470 ratings Replied 7 Dec '21

The idea of buying our own barrel has been in the minds of our rum gang for a few years. I also think that it is much easier to make such a purchase with your buddies. Or with a simple crowdfunding then you remain the master. 

But yes, new technologies are always interesting and worth trying, although the points of contact between digital and analog are not always easy (NFTs and rum). Well, tasting a rare and precious rum is always tempting.

A broker is certainly not a bad choice, years ago 1423 from Denmark had bulk rum on offer, these barrels may now have been bottled for a few rock bands :-)

Rene Rum (PREMIUM)

From Switzerland with 470 ratings Replied 7 Dec '21

@kudzey

Samples are always a good thing to taste expensive rum. Or also the visit of a fair. I prefer samples, so I can calmly deal with the rum. Most of my tasted rum in the expensive range were samples.

Fortunately, some stores here in Switzerland offer samples, I prefer then 4cl .

Andy (PREMIUM)

From United Kingdom with 116 ratings Replied 7 Dec '21

Through the Tasting Club we have the ability to convert bottles to mini bottles in a professional way - so that could be an option.

It would probably be an easier way to get something up and running with a single bottle purchase that was pre-agreed to split into mini bottles. Then maybe in the future move on to barrels and holding/investment.

If anyone has a suggestion for a bottle to buy we could discuss options here. 

Something to consider is there will be a fee involved with creating the mini bottles and shipping. In theory it might be better cost wise to bid on a number of rare bottles and send out a number of mini bottles at the same time. Our TC boxes take a maximum of 6 at a time.

kudzey (PREMIUM)

From Poland with 38 ratings Replied 8 Dec '21

I would grab a sample of Velier's Demerara or Caroni with no hesitation. I will probably never but the full bottle of these. Any SWR (except the El Dorado) is also interesting for me.

Paul B

From United States with 420 ratings Replied 16 Dec '21

NFT's are basically one-of-a-kind digital art that originated with celebreties. Each time it exchanges hands through the block chain, it supposedly increases in value. As an example, Melania Trump is the latest to jump in on this. I would never fall for such a thing.

From what I have seen on celebrity booze and wine, most of them go nowhere in value. For rum, there is Ron de Jeremy (the notorious adult film star) and Motorhead. For whiskey, Bob Dylan now has his own line of them called Heaven's Door. In all cases, fools and their money will soon part.

Sharing a cask among several buyers would be good for those in Europe, but where I live, I cannot even have one drop shipped into my state.

Captain Lee (PREMIUM)

From United States with 17 ratings Replied 17 Dec '21

Check out this story: https://therumlab.com/samai-distillery-launches-the-nft-project-founders-reserve-samai-rum-oak-barrels/

Basically, the distillery sells you a NFT that gives you ownership of a barrel in their warehouse.  Presumably at some point, for an added fee, they would bottle it for you.  I could easily see this becoming popular amongst rum clubs, high end spirits stores, etc. that are already buying casks to have a unique bottle to sell.

Paul B

From United States with 420 ratings Replied 17 Dec '21

Captain Lee:

That is an interesting and detailed article about NFT's branching out from unique digital art and getting into unique rums. However, I wonder why the two founders had to move from Venezuela to Cambodia.  I certainly would never fall for their game.

Advert Image

Advertisement | Go Premium to remove

Advert Image

Advertisement | Go Premium to remove

Advert Image

Advertisement | Go Premium to remove