First NFT from a Latin American winery released by Chile’s VIK
After releasing its most iconic wine, VIK, on La Place de Bordeaux last March, Viña VIK is now offering a limited release of 50 double-magnums of the highly rated 2018 vintage as NFTs.
VIK has become the first winery in Latin America to launch a Non-Fungible Token or NFT.
On purchasing the NFT, an owner can trade their digital asset or redeem it to collect the physical item – the double magnum of VIK 2018. One of the benefits of wine NFTs is the traceability offered by the unique digital token, giving the buyer full knowledge of exactly where their wine is at all times.
Each NFT has a unique signature that proves its authenticity, increasing its appeal in market for goods with high collectible value, such as that for fine wine.
Buyers receive a unique digital token, which is evidence of their ownership of the product, providing reassurance that it cannot be forged or otherwise manipulated.
The double magnums will be stored in the cellar of the vineyard under the watchful eye of VIK’s chief winemaker, Cristian Vallejo. This means that they will receive all the care that their cellaring requires until the buyer decides to collect them – any time from the moment of purchase.
The wine chosen is VIK’s highly rated 2018 edition.
Given its exclusivity, this VIK 2018 Limited Edition will be sold only in an NFT format available directly from VIK’s digital platform and to those visiting the producer’s Millahue winery.
It will not be available for purchase from any retail store. The cost for each NFT will be 750 MATIC (around £366 at today’s exchange rate).
Colin Hay was lucky enough to taste the wine. His tasting note appears below, alongside that for the 2019 (released through La Place in March).
VIK 2018 (Cachapoal Valley, Chile; 75% Cabernet Sauvignon; 25% Cabernet Franc; aged for 20 months in French oak barrels and for 6 months in Barroir barrels; 14.5% alcohol).
Rather more of a vin de garde than the 2019, though highly accessible already, this will benefit very much from being in a larger format such as a double magnum. This is lovely. Immediately expressive aromatically with a delightful combination of wild herbs, crushed petals and richer, deeper spicier notes accentuating the red stone fruit. There’s a little tapenade, a waft of wood smoke and a touch of clove, cinnamon and vanilla pod. The tannins are hyper-refined and that gives this a subtle elegance on the palate, disguising very well the considerable power and aging potential. Long and savoury on the finish, this is truly excellent. 97.
VIK 2019; 23% Cabernet Franc; aged for 20 months in French oak barrels and for 6 months in Barroir barrels; 14.5% alcohol).
Limpid, quite viscous and impressively translucent in the glass, this is immediately lifted and quite aerial on the nose with an enticing floral and herbal element, then tobacco, tapenade, sweet baking spices and a touch of vanilla pod accompanying the dark stone fruits, sultana and fig. Svelte on the attack with fine-grained tannins slowly building in presence in the mouth and outlining the impressive structure as they do so. Eucalyptus and menthol coolness combine with the saline minerality on the long finish. The oak needs time to incorporate but the quality of the tannins and the component elements here are very impressive. 95.