Blockchain-Powered Bitcoin Bourbon Launches With Goal of Creating ‘a Digital Future That is More Inclusive and Informed’
On Tuesday, Street Insider reported the launch of Bitcoin Bourbon and DEFI Vodka, two spirits brands from DEFI Spirits that will have NFTs attached to bottle sales.
“Our mission is to connect the crypto community and a broader audience, simplifying blockchain technology and making it accessible to those curious to explore new possibilities,” Jenna Woods, DEFI Spirits co-founder, said, per Street Insider. “We believe that by bridging the gap, we can empower more people to unlock the full potential of DeFi, creating a digital future that is more inclusive and informed.”
DEFI Spirits was founded in 2020 by entrepreneurs Ryan and Jenna Woods. The brand is based out of Austin, Texas.
“We are proud that our bourbon is crafted just outside of Austin,” Ryan Woods expressed to Street Insider. “Our vodka is distilled in Bulgaria from hand-harvested winter wheat. We worked tirelessly to ensure that our spirits were just as impressive as our distinctive bottles.”
DEFI expressed its plans to release 21 Founders Series single barrels in the future. The bourbon barrels are meant to serve as representations of the scarcity of Bitcoin, and each bottle will be presented with its own box and NFT.
Bitcoin Bourbon hosts a combination of corn, rye and malted barley in its mashbill, according to the brand. The grain is sustainably sourced from local farms in Texas. DEFI describes the bourbon as “approachably smooth, yet fearlessly complex,” with soft vanilla and subtle earthy qualities.
NFTs and Whiskey — An Increasingly Common Pairing
More than a few whiskey brands have entered the NFT space. In early September, Glenfiddich offered a 30-year-old expression on the Spirits Blockchain Platform BlockBar. Just 50 bottles were available for the release, and interested parties could acquire the spirit through the purchase of an NFT on the website.
Sevenfifty Daily chronicled this increase in alcoholic NFTs over the years and attributed many reasons why booze brands may want to sell non-fungible tokens. Some reasons could include protecting consumers from counterfeits or finding a competitive edge in the marketplace.
“One of our goals was to solve the issue of brand authenticity,” BlockBar co-founder and president Sam Falic said, according to Sevenfifty Daily.
Selling liquor through an NFT is fairly simple on the surface: a customer purchases a unique digital file and can redeem it for a physical bottle when the time is right. Yet sometimes, the booze-related NFT space can be a bit of a grey area in terms of the three-tier system or alcohol legislation. As of 2022, federal regulation for the NFT space regarding alcohol was fairly limited, and SevenFifty Daily referred to alcohol-related NFTs as “the Wild West.”
Compliance is also important for individuals who choose to resell their NFTs, as alcohol laws change per state. This can be complicated for the average consumer who lacks awareness of state alcohol legislation and goes directly against the tradeable nature of NFTs.
“If it can be turned in for alcohol, you need a license,” stated Kate Mashman, Florida’s Division of Alcohol and Tobacco counsel.
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