Liquor giant Moutai in China launches NFTs collectionFebruary 7, 2023 2023-02-07 21:48
<strong>Liquor giant Moutai in China launches NFTs collection</strong>
Liquor giant Moutai in China launches NFTs collection
On Saturday, one of the largest Chinese companies by market capitalization, Kweichow Moutai, a Chinese liquor giant, announced the launch of its liquor bottle nonfungible tokens (NFT) collection. This will allow the owner to buy limited-edition liquor in the real world.
Only last Saturday, with the physical bottles, the company initiated the issue of 1113, 960 Lichun-themed NFTs, which are locally called “Digital Collectibles.” Every collectible is linked to one blockchain-based NFT.
In China’s traditional calendar, Linchun is the first of 24 solar terms. Moutai opined that it plans to offer NFTs, along with the launch of its limited edition liquor bottles for each solar term.
The NFT-linked 500-milliliter bottles will be on sale for 2,899 yuan, whereas 100 ml bottles will be available for 569 yuan, the total value being 139 million yuan which is over UD$20 million.
A digital replica of Moutai’s winery is available on the mobile app called Xunfeng Digital World; after completing in-game tasks in the app, the owners can get the rights to purchase liquor for fiat by earning the NFTs.
In-game tokens allow liquor fans to generate digital collectibles by conducting player-to-player trades, as the NFTs cannot be traded in the game. According to Xunfeng, this process can cost approx 1,600 yuan.
After the product was launched on Jan 1 and by the end of January, Moutai and NetEase, Xunfend, had over 2.4 million registered users, according to Moutai.
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