'Circumstance' is a UK-based distillery that recently opened and aims to offer not just innovative styles of whisky and rum, but inventive ways for consumers to purchase the spirits.
The new distillery is setting itself apart as one of the first to use blockchain technology to pre-sell spirits. Consumers are able to purchase digital tokens in the form of cryptocurrency, which may be redeemed at a later point in time for bottles released by Circumstance. The first 1,000 tokens are set to be launched for £30 each, with the second batch costing £35 and the third increasing to £40 per token. As the tokens are on a blockchain, they also have the potential to be traded or sold.
As Circumstance co-founder Liam Hirt describes “Unlike other token sales this isn’t a crowd-funding exercise. This is offering people a way to get involved early and be a part of something interesting."