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Industry News

The launch of another wine NFT business – but does anyone care?

June 9, 2022

It seems like if you’re not dabbling in crypto and NFTs, you’re not living, which makes this Decanter announcement of a brand new wine NFT business headed up by the former vice-president of EU retail at Amazon nothing unusual.

But it does beg the question – can the famously sensual and notoriously conservative world of wine embrace NFTs, or is this just more tech bro hype?

Apparently, Dave Powell’s offer to sell his whole 2021 vintage as NFTs (as covered here in WBM) was an absolute fizzer, but that might not mean much. Some of the underlying tech behind NFTs (blockchain technology) has lots of promise for establishing wine provenance and tracking fakes. But tokens? That may well be a step too far (for now).

Do you think NFTs can offer anything to the wine world?