A limited edition 1 of 1 champagne sold by NFT ‘Magnum 2.5’ has just become the world’s most expensive champagne. Purchased on OpenSea as an NFT priced at 2500 ETH, which is equivalent to $2.5 million USD.
The magnum of Champagne Avenue Foch 2017 was offered with an NFT that gives the holder the digital art and intellectual property rights to an image of a now-famous Bored Ape Mutant, alongside the other collectible cartoon figures featured on the bottle.
Created in a partnership between British entrepreneur, Shammi Shinh and Sneaky Vampire Syndicate, what makes Champagne Avenue Foch the most expensive, besides its taste and production, is its bottle.
Produced at a family-owned estate, Champagne Avenue Foch is made from 100% Premier Cru grapes. The bottle has art made by Sneaky Vampire Syndicate and Shammi’s trademark sparkles with diamond-cut Swarovski stones.
Its buyers are Italian brothers Giovanni and Piero Buono. The duo are investors involved in the crypto market, as well as the fashion and technology industries.
Champagne Avenue Foch Specifications
100% Premier Cru
60% Pinot Noir, 20% Meunier, 20% Chardonnay
Dosage: 4 g/liter
Limited Edition: 1 of 1
What they are saying
Speaking to Business Insider, Shammi Shinh said he hopes the sale will raise awareness of NFTs and help people to understand them.
“NFTs are the new diamonds. This 1 of 1 bottle features art from NFT collections that have over a billion dollars in sales. Encrusted with diamond-cut Swarovski crystals with pure pewter embedded in the design, I wanted to create something timeless for the modern investor, nothing less than a masterpiece.
“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). In order to receive the physical champagne bottle, the buyer will need to burn the NFT. The champagne itself is a work of art and unmatched quality,” he said.
What you should know
The champagne broke the previous record set in 2013 by Taste of Diamonds which sold for $2.07 million. Taste of Diamonds is a blend of Grand Cru Chardonnay, Pinot Noir and Pinot Meunier that has a creamy texture. While the taste was impressive, it was not enough to make the champagne so expensive.
What set it apart was its Superman-style logo handcrafted from 18-carat solid gold, but also fixed prominently at its center is a single, flawless deep-cut white diamond weighing 19 carats, which replaces the Swarovski crystal that typically sits there.
Download Nairametrics App for breaking news and market intelligence.