Maotai, A Chinese Liquor Company, Has Launched An NFT Based On Wine Bottles

Key Points:

• An announcement was made regarding the introduction of a non-fungible token collection by the Chinese liquor behemoth Guizhou Maotai, which is one of the largest corporations in China based on market value.
• The bottles that are associated with NFT are being offered for a price of 2,899 yuan (US$427) for a bottle that is 500 ml and for a price of 569 yuan for a bottle that is 100 ml. The total worth of the bottles is 139 million yuan, which is over $20 million US dollars.

Guizhou Maotai, a Chinese liquor behemoth and one of the largest corporations in China measured by market value, recently announced the introduction of its non-fungible token collection (NFT). This collection grants owners the ability to purchase limited-edition booze in the physical world.

The distribution of 113,960 NFTs with a Lichun motif has begun by Maotai. Each bottle is connected to an NFT that is based on blockchain technology. The bottles that are associated with NFT are being offered for a price of 2,899 yuan (US$427) for a bottle that is 500 ml and for a price of 569 yuan for a bottle that is 100 ml. The total worth of the bottles is 139 million yuan, which is over $20 million. US dollars).

Customers of Maotai’s winery can gain the ability to pay for their alcoholic beverages with real money by completing in-game tasks within the Xunfeng Digital World smartphone app, which is designed specifically for the company’s vineyard.

Wine enthusiasts may not be able to exchange NFTs within the game, but there are other methods for them to produce digital collectibles. These techniques involve executing player-to-player transactions utilizing in-game tokens.

Xunfeng estimates that the process will set one back around 1,600 yuan. Maotai and NetEase announced the launch of Xunfeng on January 1, and by the month’s end, the platform had more than 2.4 million registered users.

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