Record-breaking NFT champagne sells for $2.5m

A bottle of champagne decorated with five drawings by Bored Ape Yacht Club artist Mig has sold for a record-breaking $2.5m in a private sale.

Crypto brothers Giovanni and Piero Buono invested in the Avenue Foch blend – the brainchild of Shammi Shinh who knows what it takes to break records in the drinks industry.

This sale eclipses his previous record for the most expensive champagne bottle, which he sold with a 19-carat diamond attached to it at a similar auction.

Successful bidder Giovanni told the Wall Street Journal: “I don’t plan to drink it, I think it will be a good investment. There is a lot of turmoil in the investment world, things are changing geopolitically very quickly.

“Wealthy people will look for places to store their wealth for a while – and that could be a champagne with an NFT attached to it.”

The two investment brothers own the five designs seen on the bottle as NFTs and will receive each as a digital rendering as part of the purchase.

Avenue Foch is a limited edition partnership between a family-owned French estate in Chamery and Shinh himself and more NFT x champagne packages are expected.

The Avenue Foch site already has a waiting list you can sign up to in order to keep up to date with latest offerings – but don’t expect any bargains anytime soon.

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Updated: 07/19/2022 — 21:00