Record-Setting NFT Champagne Sells for $2.5M

Jamal Molla
Written By Jamal Molla
I write about cryptocurrency, with a special interest in NFT and metaverse in particular.

Many NFT holders and crypto traders are currently having it tough in their respective markets. The majority of them are converting their digital assets to fiat and stable coins as part of measures to minimize their losses. Although Chris Brown’s NFTs Collection Experiences Low Buyers and many investors struggle to remain in business, some wealthy investors seem unperturbed by the development. Within the past two weeks, two big spenders spent $2.5 million on a bottle of champagne.

The Magnum of Chateau Avenue Foch 2017 from the stable of Shammi Shinh, a luxury champagne connoisseur, currently holds the record for the most expensive champagne ever; having overthrown the Taste of Diamonds that went on record in 2013 when it was purchased for a whopping $1.9 million.

The world’s most expensive champagne isn’t a random product but comes with an NFT. Besides the champagne, the investors will also receive the intellectual property rights to some NFTs on the champagne bottle and that of the Bored Ape Mutant NFT image.

While commenting on the special design, Shinh explained that: “NFTs are the new diamonds. This 1-of-1 bottle features art from NFT collections that have over a billion dollars in sales. … As it is sold as an NFT, I expect it to be traded a few times in the marketplace before the physical bottle lands with the right individual who will HODL (Hold On For Dear Life) it…. The champagne itself is a work of art and unmatched quality.”SS

The bottle’s design is a product of a collaborative effort between Mig, the legendary artist who created The Sneaky Vampire Syndicate NFT collections and Bored Ape Yacht Club, and Shinh.

According to Fortune, two Italian brothers, Piero and Giovanni Buono, purchased the champagne on OpeaSea Marketplace for 2,500 ETH or $2.5millin, although the brothers aren’t planning to drink the expensive wine but consider it a good investment.

Giovanni added that “There is a lot of turmoil in the investment world; things are changing geopolitically very quickly. Wealthy people will look for places to store their wealth for a while — and that could be champagne with an NFT attached to it.”

This is coming on the heels of auctioning the world’s rarest whisky as an NFT last week, giving NFT wines a new label as one of the most increasingly popular investment opportunities in the NFT world.

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