Benzinga | Jan 10, 2022 08:20AM EST

Hennessy Announces First NFT Collection: What You Need To Know

A spirits brand is the latest company to enter the non-fungible token space. Here's how you can get your hands on a Hennessy NFT.

What Happened: Hennessy, a company owned by Moet Hennessy Louis Vuitton SE (OTC:LVMUY), is launching its first ever NFTs at 9:30 a.m. Wednesday, Jan. 12. The company's NFTs come in partnership with BlockBar, a NFT marketplace.

Hennessy-8, a tribute to eight generations of Master Blenders for Hennessy, will launch on Jan. 12 as a dual drop of carafes Nos. 1 and 250/250 on Blockbar.com.

Both NFTs come with an exclusive opportunity to visit the Hennessy estate in Cognac, France for the buyer. The winner will also be able to engrave a personalized message on the carafes.

Buyers of the NFT can redeem the physical product and have it delivered or trade the NFT within the Blockbar.com marketplace. The NFT comes with physical and digital traits.

"Hennessy is renowned for innovation and passing down know-how from one generation to the next, so we're honored the Maison has chosen to partner with BlockBar to mark this innovative milestone with its first NFT," BlockBar CEO and co-founder Dov Falic said.

The two Hennessy-8 NFTs are priced at 58 Ethereum (CRYPTO: ETH). Those interested in completing the purchase must be on Blockbar.com at 9:30 a.m. EST Wednesday and have at least 1 ETH in their wallet to connect to their site.

A random order at 10 a.m. EST will give a person at the top of the list 10 minutes to submit a deposit of 1 ETH and 48 hours after deposit must submit the remaining balance.

Related Link: How To Buy NFTs

Why It's Important: Hennessy is one of the most well-known spirits brands in the world.

Beverage companies PepsiCo (NYSE:PEP) and Anheuser-Busch InBev (NYSE:BUD) are among the publicly traded companies embracing NFTs.

Photo courtesy of Hennessy.