A billion-dollar wine brand looks to restore its reputation in Napa Valley Fine Wine. Where do they turn?...
NFTs of course!
Today I want to break down the Robert Mondavi Wine NFT campaign as part of the “NFT Marketing Deep Dive” series.
The whole point is to break down existing marketing campaigns that leverage NFTs run by bigwigs across all sorts of industries. The hope would be that you walk away with:
- A better understanding of how NFTs can be used in marketing
- Creative inspiration from big players in big industries
- More confidence when you execute your next NFT marketing campaign!
Trade deal: buy my NFT, receive rare wine
That is the basic idea behind Robert Mondavi’s NFT campaign. You purchase an NFT from their website, and that NFT can later be redeemed for an exclusive 1-of-1,966 bottle of wine from one of the top wineries in Napa Valley, Kalon Vineyard.
You also get a personalized To Kalon Tasting experience with every NFT. Sounds like a pretty grand time to me.
The collection, named The MCMLXVI Collection, brings together Robert Mondavi wine created by the top winemakers, beautiful porcelain bottles doubling as sculptures from French luxury porcelain house Bernardaud, and digital art by artist Clay Heaton.
When the collection was first released on December 15th, 2021, the NFTs could be purchased with USD or Ethereum on their website here. They were initially priced at about 1ETH or roughly $3500. The NFTs have since sold out from the website but are available on the secondary market here.
They also have a 10% royalty meaning 10% of the profits from each secondary sale go back to Robert Mondavi Winery.
Once someone purchased the NFT, they had to wait until September 30th, 2022 to be able to redeem their bottle.
The owner would redeem the bottle by connecting their NFT wallet to the Robert Mondavi Wine website here. The same website also has a way to track what NFTs have already redeemed their bottle. This prevents you from buying an NFT on the secondary market where the bottle has already been redeemed by someone else.
When the NFT is connected to the website and you select which bottle to redeem you simply put in your address and boom… your rare bottle of wine is on the way!
After that, you could contact the email on the official website to reserve a time for your personalized tasting experience.
What can we learn from this?
Now, let’s talk about what we can take away from the Robert Mondavi NFT campaign.
Firstly, they used it as an opportunity to collaborate with a digital artist and the porcelain company Bernardaud. I think it’s worth mentioning working with digital artists that already understand the NFT space and aesthetic can be really helpful for a campaign by appealing to more NFT collectors. Working with a popular artist will bring more eyes to the project.
That being said, any digital art that fits the theme can be successful!
With this campaign, there were two neat points they implemented:
- NFTs as a way to authenticate that an item is legit
- Create a secondary market for an item that can all be traded online
Instead of having to find a buyer for the wine and shipping it to that person, an owner of the NFT can now just go on a site like Open Sea and sell it online. That creates a pretty hassle-free secondary market for this rare wine.
Another thing to mention about this campaign is that they were actually able to turn it into a revenue-generating event. Not only did this drive a lot of publicity from media outlets and curious consumers but they SOLD these NFTs for about $3500 EACH!
On top of that, they are taking 10% of all secondary sales on Open Sea. The project has done about 56ETH (~$72,353.12) in secondary sales on OpenSea. Although $7.2k might not be a lot of money for a company like Constellation Brands (the parent company for Robert Mondavi Winery), it’s a unique opportunity to use marketing as a revenue-generating event.
Launch own NFT Marketing campaign
If you want to launch your own NFT Marketing campaign, you have come to the right place! Cloud3 Labs can help you implement this new tool for your marketing. We build tools to help you launch, manage, and execute on NFT marketing campaigns with NO CODE!
Schedule a demo with me here or email me with any questions at Connor@Cloud3Labs.com. Get on the waitlist today to use Cloud3 Labs tools to launch your next NFT Marketing campaign.