World's Greatest Wines to be sold as NFTs
Timed Online Auction, 19 June - 10 July 2023
World's Greatest Wines to be sold as NFTs
About this Item
Strauss & Co Domaine de La Romanée-Conti 1999-2015 NFT
Domaine de la Romanée-Conti is one of the most enigmatic names in the wine world, conjuring up notions of exclusivity and desirability. It is the only Burgundy wine producer with a status comparable to the top Bordeaux producers. Its prestige, and historical links with royalty, has made it the foremost name in Burgundy, a region which has been experiencing significantly increased demand over recent years, becoming a priority for international collectors.
One of the most renowned vineyards in the world, located in the commune of Vosne-Romanée. The wines of incredible Grand cru sites of Échézeaux, Grands Échézeaux, La Tâche, Richebourg and Romanée-Saint-Vivant, are praised for their subtle and mysterious nature.
Guided by the relentless pursuit of excellence, passed down from generation to generation, Domaine de la Romanée-Conti’s mission is to make its Grands Crus the greatest in all of Burgundy. Few would dispute that the wines of DRC are some of the world’s finest.
The Domaine de la Romanee-Conti NFT lot consists of 80 pristine bottles from 1999 through to 2014.
4 x Romanée-Conti
17 x La Tache
4 x Richebourg
18 x Romanée-Saint-Vivant
20 x Grands-Echézeaux
14 x Echézeaux
3 x Vosne-Romanée 1er Cru
Click here to view the NFT list for this lot.
Click HERE to view the NFT list for this lot.
- The wines are currently stored in the professional cellars of Wine Cellar, in Cape Town, Africa’s largest fine wine cellar. Free storage to October 2023.
- Professional world-wide shipping can also be arranged, at negligible costs considering the high value of the wines.
- Each bottle within the NFT is also minted as an NFT on the polygon blockchain. This allows for the withdrawal or trading of single bottles, or the entire NFT at any time. Strauss & Co will coordinate the ‘burning’ NFTs when stock is withdrawn.
- Insurance to be undertaken by new owner.
- All Web3 development is undertaken by partner Fanfire. Prof Gert-Jan van Rooyen is Director at Fanfire, and also an Associate Professor Extra-Ordinary in Industrial Engineering at Stellenbosch University.
- Payment can be made in ZAR, USD, GBP and using any of the methods Strauss & Co accepts (cash, credit card, EFT) or optionally with cryptocurrency.
Fanfire will facilitate payments made in ETH or BTC and stable coins. - SASA (South African Sommeliers Association is a non-profit organization and aims to offer its services to service industry professionals in South Africa. SASA will receive 1% of the hammer price from Strauss proceeds.
Why NFTs?
Non-fungible tokens are a highly efficient way to package a collection of wines for long term aging or trading. The digital contract is stored on the Polygon blockchain and the NFT includes the critical information of the transaction in provenance, barcode, pictures, pricing, along with sensorial and aging information. NFT transactions are cheap and fast, and don’t add any marginal energy cost. The NFTs can be traded by the owner on any platform, currently also on Opeansea.
The NFTs include perfect complimentary cellaring of the wines in professional storage with Wine Cellar until October 2023, with the option to extend at commercial rates thereafter. Contracts are held in a custodial wallet or sent to a cold wallet such as the Venox Vault.
Provenance
The Coats Family Cellar is arguably the most prestigious fine wine collection ever offered in South Africa. It contains an expansive collection of the worlds finest, most sought-after wines, spanning over 150 years. Collected over many decades, the cellar was imported from Ireland to South Africa via refrigerated container. Each bottle within the Coats Family Cellar was authenticated by Michael Egan in August 2022 and given an ID number for tracking.
Michael Egan is a world-expert in fine and rare wines with more than thirty five years of experience. He was the principal expert for the plaintiff in the two major wine counterfeiting trials in Koch v. Eric Greenberg and United States v. Rudy Kurniawan, both of which occurred in 2013.
Along with Michael Egan, the Strauss & Co Fine Wine team have tasted extensively through the cellar and are confident of the wine storage and hence quality. The entire collection is currently stored at Wine Cellar.
Critics Ratings
Clive Coats, Decanter.com
‘The scarcest, most expensive - and frequently the best - wine in the world ... If you can lay your hands on a case - and that is a big 'if' - you would have to pay £5,000 or more for a young vintage, double or triple for a wine in its prime. ... This is the purest, most aristocratic and most intense example of Pinot noir you could possibly imagine. Not only nectar: a yardstick with which to judge all other Burgundies.’
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