On April 8, the Toronto-based company BitWine released a series of 1,000 non-fungible tokens (NFTs) that combine pixel art and wine. From common favorites to rare “unicorn” bottles, the “wines” are available on the NFT trading marketplace website OpenSea, and have sold for upwards of $34,000.
The catch? There’s nothing to drink. The bottles are purely virtual and were created by a team of graphic designers rather than winemakers.
The BitWine collections will be released in “drops” of 50 wines at a time, with each one classified based on their rarity, age, grape varietals, and region of production.
For big spenders and virtual collectors, there’s currently a BitWine for sale for nearly $300,000. It’s a 1999 Grand Cru Burgundy from the Vosne-Romanée appellation and is described as a “top tier Burgundian Pinot Noir.”
Despite the steep prices, the BitWines have sold successfully thus far, with the average one going for $151 (0.7 Ethereum). Just five days after launch, BitWine has raked in over 24 Ethereum, which is valued at over $52,000.
This certainly brings a whole new meaning to the idea of virtual happy hour.
