What is BottledNFT?
BottledNFT is a whisky marketplace where collectors can buy and sell their whisky and spirits online. We make use of blockchain technology to ensure a seamless process with transparency and efficiency. We maintain possession of all physical whisky and spirits represented by the NFTs listed on the BottledNFT platform, thereby ensuring the authenticity and availability of the underlying assets for buyers.
How does BottledNFT work?
BottledNFT’s digital Tokens represent the rights to redeem a specific quantity of whisky from a cask or bottle. These cask or bottles are stored in our appointed warehouse. The tokens can be purchase or sold on our platform by anyone around the world. Token holders will have the rights to redeem their assets with the token during the redemption period , either by visiting our storage, or through email.
What are the fees involved?
Planet Spirits may charge fees for certain transactions. Any applicable fees will be disclosed to you before you complete a transaction or in the terms and conditions.
What is a BottledNFT Token?
A BottledNFT Token is a digital representation of a contractual right to receive a specified quantity of whisky. It’s like a digital certificate of ownership to the rights to redeem that portion of whisky. It is not an investment, security, or financial instrument.
Can I trade BottledNFT tokens after purchase?
Yes, all tokens purchased on BottledNFT can be traded on our decentralized exchange (DEX) called the “Marketplace”.
Is BottledNFT a secure platform?
We take the security of our platform and your information seriously. We employ industry-standard security measures to protect your data and transactions. However, as with any online platform, there are inherent risks. We encourage you to keep your account credentials secure and notify us immediately of any suspected unauthorized activity.
Who is Planet Spirits Pte. Ltd.?
Planet Spirits Pte. Ltd. is a company incorporated in 2007 in Singapore that operates The Whisky Store and the BottledNFT platform. It is a wholly owned subsidiary of TSH Corporation Limited, a company listed in the Singapore Exchange.
What are the different types of tokens offered?
We may offer Tokens representing the rights to redeem portions of a cask or Tokens representing the rights to redeem an entire bottle of whisky. The specifics of each Token offering will be clearly stated on each product page.
What are my redemption rights?
Each Token entitles you to redeem the specific quantity of whisky specified on the product page, subject to the redemption terms and conditions outlined for that particular Token offering. The designated redemption period will be clearly stated on the product page. Any whisky not redeemed during the specified period will be transferred to paid storage, and storage fees will apply.
Do I own the cask or whisky when I purchase a Token?
No, you do not own the cask or the whisky itself. You own the contractual right to redeem the specified quantity of whisky represented by your Token.
How does the redemption process work?
Detailed redemption instructions, including any applicable waiting periods and the precise redemption window, are provided on the product page for each Token. To redeem your whisky, you must initiate the redemption process within the specified redemption window. Failure to do so will result in the forfeiture of your Token and any claim to the whisky. Following the close of the redemption window, any remaining whisky will be placed in paid storage, and storage fees will be incurred.
What happens if I don’t redeem my Tokens within the redemption period?
If you fail to redeem your Token within the specified redemption period, the Token and all associated rights become null and void. You will forfeit any right to the whisky, and no refunds will be provided.
Can I transfer my Tokens to someone else?
Yes, you can trade or transfer your Tokens with other users.
How is the whisky stored?
We take reasonable steps to store the whisky in accordance with industry standards, including temperature, humidity, and security controls. However, we do not guarantee specific storage conditions or prevent natural changes such as evaporation.
Is the whisky insured?
No, the whisky is not automatically insured. You can purchase optional insurance at your expense by contacting us in writing.
What is Planet Spirits’ liability regarding the stored whisky?
We will not be liable for any loss, damage, or destruction of whisky unless it results directly from our failure to exercise reasonable care.
How do I create an account?
You can create an account on the BottledNFT platform by providing accurate, current, and complete information.
How do I make a purchase?
You can browse available Tokens on the BottledNFT platform and follow the purchase process outlined on the site.
Do you ship the bottles internationally?
During the redemption period, you may request shipping to your desired location. We ship via DHL to countries that permit alcohol delivery. For international orders outside Singapore, your order will likely be subject to customs duties and taxes upon arrival, payable directly to your local customs authority. As we cannot provide estimates for these charges, we recommend consulting your local customs office or government website before sending in your request. Please note that all shipping-related costs are the responsibility of the recipient.
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