Crypto Journalist Profits 20% on Tequila NFT Sale

In early June, a unique investment opportunity unfolded at a private tasting and bottle launch event in downtown Brooklyn. Hosted by BAXUS co-founder Tzvi Wiesel, the event showcased a limited edition tequila bottle from "The Loft Brooklyn Collection," exclusively available in New York. The tequila brand’s head distiller guided attendees through a tasting, noting the apple flavors and the distinctive blue and orange bottle design inspired by the New York skyline. Guests were offered the chance to purchase one or two bottles of this exclusive collection.

Among the attendees was a crypto journalist who, despite initial oversight by salespeople, found himself in a private back room. There, he acquired a bottle of tequila for $2,000. The bottle was then 3-D scanned and uploaded to BAXUS’ Solana-powered spirits marketplace, where it was paired with an NFT. This NFT could be bought or sold on the platform, with transactions settled in USDC. Users could convert between fiat and crypto using Coinflow, and BAXUS charged a 10% sellers’ fee. Collectors could make multiple trades without physically possessing the bottle, and if they wished to consume their liquor, BAXUS would ship it for a $25 fee.

The journalist initially listed the bottle for $3,500 but eventually sold it for $3,000, resulting in a $700 profit after fees. This transaction highlighted the efficiency and convenience of blockchain technology in facilitating such deals. Wiesel explained that blockchain enabled seamless payment via crypto, instant settlement in the account, and verifiable proof of ownership without the need for physical possession of the bottle. This eliminated the friction typically associated with traditional resale processes, such as finding a buyer online and establishing trust.

The success of this transaction underscores the potential of blockchain technology in solving real-world problems. In this case, it allowed the journalist to acquire a limited edition tequila bottle for less than its market value and resell it for a profit. This example demonstrates how blockchain can streamline the process of buying and selling high-value items, making it more efficient and secure. The journalist expressed hope for facing similar investment opportunities in the future, highlighting the growing interest in using blockchain for such transactions.