Chinese liquor giant Moutai unveils NFTs linked to liquor bottles

Chinese liquor giant Kweichow Moutai, one the largest Chinese companies by market capitalization, announced on Saturday the launch of its non-fungible tokens (NFT) collection that provides owners with rights to purchase limited edition liquor in the real world.

Fast facts

• Moutai started issuing the 113,960 Lichun-themed NFTs, locally known as “digital collectibles,” last Saturday, with their physical liquor counterparts. Each bottle is bound to one blockchain-based NFT.
• Lichun is the first of 24 solar terms in China’s traditional calendar. Moutai said it intends to issue NFTs and corresponding physical products for each solar term.
• The NFT-linked bottles are on sale for 2,899 yuan (US$427) for 500 milliliter bottles, and 569 yuan for 100 ml, with a total value of 139 million yuan (over US$20 million).
• Customers can acquire the rights to purchase liquor for fiat by earning the NFTs after completing in-game tasks at Xunfeng Digital World, a mobile app that contains a digital replica of Moutai’s winery.
• While the NFTs cannot be traded in the game, liquor fans can alternatively generate the digital collectibles by conducting player-to-player trades using in-game tokens. This process can cost around 1,600 yuan, according to Xunfeng.
• Launched on Jan. 1 by Moutai and NetEase, Xunfeng had over 2.4 million registered users by the end of January, according to Moutai.

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