721 Vodka is the first product from Degen Distillery, which is backed by Brewdog and Google.
Degen describes itself as ‘an innovative Web3 company leveraging blockchain technology to revolutionise the spirits market’ and has built a community of more than 1.7 million. Degen co-creates the brand alongside this community, known as the ‘Degeneration’.
721 is a super-premium vodka that is filtered only once to retain its character and offer a ‘smooth and warm palate with a hint of spice and a long sweet finish’.
It is named after ERC-721, which is the technical framework for managing non-fungible tokens (NFTs).
The vodka debuted at Goodwood’s Three Friday Nights series, with which it has a three-year partnership deal, and will now launch in the off-trade.
Sammy Verghese, co-founder and CEO of Degen Distillery, said: “We’re not just a drinks company. We are a lifestyle brand and at the centre of everything we do is our community.
“We are co-creating and leading something unprecedented in any industry – revolutionising the traditional DTC [direct-to-consumer] model. We’ll be direct to community, changing the roles of ‘consumers’ to ‘co-creators’. Together, we can shape the future and get rewarded for it.
“We’re growing fast, having already raised £2 million (US$2.6m) and we are excited to bring 721 Vodka to a wider audience, especially after its great reception at Goodwood.
“We’re already redefining the spirits market with our unique distribution model, so keep an eye out for us – you can’t miss the bottle! We’re here to cause a stir and shake up the industry.”
Debuting first in the UK, 721 will launch across Europe and the US later this year.
James Watt, co-founder of Brewdog, added: “Degen Distillery is dedicated to disruption and we’re proud to support Sammy and the team on their journey. We know that working with the community is key to growth and we’re confident that we’re at the start of an exciting journey that will drive significant change and make a lasting impact in the spirits industry.”
The spirits industry is slowly adopting Web3 and blockchain technology, with one provider stressing its importance for competition.
Earlier this year, Avión unveiled its first NFT Tequila, while Don Julio auctioned five casks on blockchain platform BlockBar.
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