I’m not a fan of NFT’s but I can understand the rush to cash in while the money spigot is flowing. There’s definitely some artists who are seeing some money for the first time in their career - think digital artists who made cool things that were promptly stolen and plastered on t-shirts and shared without attribution, etc. Even if NFT is a con, some of them are getting paid at the moment.
I think they’ll make more sense when they’re being used more exclusively in the digital domain - one-of-a-kind characters/assets/places in video games, digital experiences only accessible in VR to owners of the NFT, etc. Right now, I think selling art and sh*t like this is purely hype-riding and everyone is right to throw their hands up in confusion at the point of all this.
If the CLB idea is to establish authenticity and provenance, you can do that with a variety of blockchain solutions that can track the bottle everywhere it’s tagged in to the record.
I can’t disagree. But I expect NFTs to be forced into being regardless. And for the confused end-consumer, these are the use-cases that I think will illustrate the point.
And at best you’re guaranteed to have a blockchain authenticated bottle, right? None of this will stop counterfeiting via bottle reuse and refill, at least to my understanding.
I’d assume there would be some sort of RFID tag in the cork or the capsule that would be set to “off” by any sort of tampering/opening that would be verified on the blockchain. We’re testing the limits of my understanding of supply-chain control with blockchain but I believe that was how they intended to do it to track other luxury goods.
Cloning RFID tags is trivial with nothing more than a Proxmark. RFID is powered by a transmitter which may or may not be on the Internet. Honestly, integrating RFID and the Blockchain sounds like a really bad idea in general given you can’t guarantee RFID tag authenticity once it’s ‘in the wild’. It might be useful for supply chain control but I can imagine quite simple abuse vectors if they’re in the hands of consumers.
Correct. Someone can buy the bottle and the nft. Then sell the bottle, keep the nft and fake a new bottle. Or fake a bottle and sell it with the nft.
nfts are not completely without merit. It’s like having a first edition book or a first printing of a woodblock print. But in this context it’s meaningless.
Here’s Acker’s explanation. Note that the NFTs are not sold on their own; they come with a bottle.
Note the fine print.
We are extremely honored to have sixteen, single bottle and magnum lots representing the worldwide debut and official first release of each Cru of the 2019 vintage from the incomparable Domaine du Comte Liger-Belair. The vintage, which yielded a very small crop, is already highly regarded in Burgundy. Each lot features the bottle or magnum with serial number #2, as bottle #1 always stays at the Domaine. These special lots are all the more exceptional as they are accompanied by the first NFTs, otherwise known as non-fungible tokens, ever made in Burgundy. Auctioned on Acker’s proprietary platform and transferred to the buyer on Ethereum via OpenSea, these unique 1-of-1 digital creations are authenticated using irrefutable blockchain technology and feature exclusive videos of Louis-Michel, the 7th Comte Liger-Belair, discussing individually every wine and its vintage, particular to each cuvee in the associated lot. These are the only ones the Comte will ever make for this outstanding vintage, and the historical significance of these NFTs is immense.
The estimates below are for the wine only. The value of the NFT will be decided by the market and is not included in any estimate.
“The historical significance of these NFTs is immense.”
Perhaps they are significant in the history of chicanery.
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