For the whisky enthusiast, there’s nothing quite like sampling from a selection of the world’s finest whisky, settling down to relax with a ‘wee dram’ as the day draws to a close. For the cognoscenti, this is indeed one of life’s simplest and finest pleasures.
However, laying one’s hands on some of the rarest bottles in existence isn’t necessarily that easy. Collectors nowadays often spend hours on end searching for the perfect opportunity to identify and invest in something truly noteworthy and special, and a growing number of long-time, experienced and knowledgeable investors are beginning to fathom the true value of their whisky investments and the promise of the rare bottles they have in their collections. Many are now rapidly appreciating and may continue to do so into the future.
In recent times, rare whisky has proven to be one of the best performing collectables in the alternative investment sector. Over the past decade alone, rare whisky has registered 483 per cent growth and, thus, this asset class is attaining rapidly increasing interest from wealthy Asian investors looking to collect, trade and enjoy.
However, access to great whisky and opportunities for lucrative investments in this sector shouldn’t be limited to just the select few and it’s for this precise reason that Singapore-based whisky investment specialists Stewart and Robertson have launched their brand-new club.
The ‘Wizky Club‘ doesn’t just make the rarest and most impeccable whisky brands and vintages more accessible, but it also brings something entirely new to the table. It has created a new opportunity within the Metaverse, bringing whisky well and truly into the digital age. The club allows investors the chance to invest in their very own ‘Wizky non-fungible tokens’ or NFTs,” says managing partner James Taylor.
“We are huge fans of the development and innovation happening in NFTs and the Metaverse,” adds Taylor.
“Blockchain technology is advancing at lightning speed and will reach its full potential soon. As boring ol’ whisky collectors and drinkers, we were wondering how we could be part of this new world.
“We were fortunate enough one evening, whilst enjoying a dram with friends in the new Swanky Revival bar in Singapore, to find that a revered bottle of GlenGrant had been put on display. At 70 years old, it had been distilled in 1948 – the year Scrabble was introduced. We discussed how cool it would be to find a way to divide that same bottle into shares so that people around the world could taste something so rare and so historic. And so, The Wizky club was formed there and then.”
To date, most investors would be unlikely to link whisky and blockchain investments in their minds, but The Wizky Club is set to change all that.
Whisky investment has always been an instrument for investors looking to invest in an asset class which appreciates with time, due to its limited supply and increasing value as it ages, but it has always remained relatively inaccessible when compared with stocks, and property and even cryptocurrency.
Nevertheless, rare whiskies are one of the highest performing asset classes at auction, outdoing the likes of rare stamps, coins and even cars and fetching some eye-watering prices in the process.
According to the Sotheby’s 2020 Wine and Spirits Market Report, spirits now account for 19 per cent of the auction house’s auction and retail sales share, compared to just one per cent in 2016: clear evidence that the global appetite for exclusive whiskies is growing.
Currently, there are only about 140 distilleries in Scotland slowly producing them – and the process, as we know, takes many years. The journey from earth to cask and finally, to bottle, is a long one – but whisky enthusiasts and savvy investors know that the product is entirely worth the wait, it’s only time that creates value.
So, how exactly does The Wizky Club work? By giving all types of whisky lovers no matter how experienced, the chance to be a part of that journey and by utilising blockchain and NFTs, it aims to build a digital economy metaverse in which all members are given the chance to enjoy some of the world’s finest whiskies.
Over the coming months and years, a series of casks and rare bottles that are almost impossible to buy elsewhere will be divided into a certain number of NFTs (shares) per collection to represent the real-world ownership of the selection. The club will curate a selection of rare casks or bottles and engage with its community to define the pricing, the utility and the activities – such as real-world, real venue events where members will have the opportunity to sample and enjoy these fine whiskies themselves.
NFTs are split into two formats; bottles and casks. Each format will have different utility and members can engage in several different ways via the club’s online marketplace.
“We wanted a platform where the NFT’s allow holders to not just flaunt, but own a piece of the action. We want whisky collecting to be fun, accessible, and unbearably tipsy. As such, you will be able to trade, stake and drink a Wizky through The Wizky Club,” says Taylor.
“Our members are rewarded for owning NFTs, staking, drinking and converting their NFTs, buying and selling bottles, casks and tokens on our marketplace, taking part in metaverse games and activities, and much more.”
The club is currently gearing up for its very first release of a stunning 32-year-old cask of Macallan, making available 1000 NFT which is equivalent to 275 bottles of whisky. Each NFT is planned to be priced around 0.3-0.4 ether, however, this may change due to the current cryptocurrency pricing dip. Keep up to date with the developments by joining their Discord (click here for invite) or by visiting their website (www.wizky.io) With four shares making up the equivalent of one bottle, an NFT can constitute either one or two shares.
Only recently, a 35-year-old cask of Macallan fetched an incredible £920,000 at auction, reaffirming that this is the perfect time for the club to bring this particular cask to its members.
“A new era for whisky has dawned, with the industry seeing its biggest boom in decades,” Taylor explains.
“The popularity of whisky is surging, and so the club was formed to allow people around the world to sample and enjoy the kinds of whiskies which they might never have walked into a shop and otherwise purchased’’
Despite its rapid growth, The Wizky Club remains all about the community, something that is at the heart of everything it does. Members will get a chance to be involved in the development of the club’s journey into the Metaverse. The club is designed for the whisky enthusiast who might have been inspired by their grandma’s ritualistic nightcap but is equally suited to any complete whisky novice who might also have found themselves rather partial to indulging in an evening tipple. In essence, it’s for whisky lovers of all kinds.
“Our mission itself remains unchanged because we remember that we all started our whisky journey somewhere,” says Taylor.
The concept for the club has been developed jointly by Stewart and Robertson with Metavision, founder Dexter Lim, leading the project and over the coming months, we can expect to see this exciting new project gather pace, attracting whisky enthusiasts and investors from across the globe. We invite you to the Metaverse of Wizland.
It’s certainly an exciting time for those who appreciate this wonderful liquid gold and, with a string of thrilling new releases on the cards before the year is out, here at LLM, we can’t wait to see what’s in store.