Château Avenue Foch: ‘Most Expensive’ Champagne Sold For N1.03bn

The wine industry woke up to a record sale of the ‘finest’ wine for N1.3 billion ($2.5m), making it the most expensive beverage to be sold ever.

Besides being a liquor, Château Avenue Foch 2017 has an NFT value attached to it and its buyer sees his purchase as a greater investment.

The World Street Journal reported the sale of Château Avenue Foch 2017 which has now become the world’s most expensive Champagne after selling for an eye-watering US$2.5m at auction, an equivalent of N1.03bn at Central Bank of Nigeria rate.

It beat the record set in 2013 by Taste of Diamonds which sold for $2.07m.

The buyers are Italian brothers Giovanni and Piero Buono. Both are entrepreneurs investing in the crypto market, fashion and technology industries.

The wine was introduced to auction by British entrepreneur Shammi Shinh.

Purchasing Chateau Avenue Foch 2017 with an NFT gives the buyer the digital art and intellectual property rights to an image of a Bored Ape Mutant, including other collectible cartoon figures featured on the wine bottle.

The Champagne bottle was designed in collaboration with the artist Mig.

Shammi Shinh said he hopes the sale of the Champagne would raise awareness of NFTs.

“As it is sold as an NFT, I expect it to be traded a few times in the marketplace before the physical bottle lands with the right individual who will HODL (Hold On For Dear Life). In order to receive the physical champagne bottle, the buyer will need to burn the NFT. The champagne itself is a work of art and unmatched quality,” said Shinh.

About Château Avenue Foch 2017

• It has an NFTs worth 2500 ETH, which is equivalent to $2.5 million.

• 100% Premier Cruise

• 1.5l Magnum

• 60% Pinot Noir, 20% Meunier, 20% Chardonnay

• Dosage: 4 g/liter

• Harvest: 2017

• Limited Edition: 1 of 1