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April 28, 2023

Hennessy - What are some benefits of web3 phygital products?

Having a digital pairing of a physical item is nothing new.

We see it daily in advertising and marketing materials - cars, beauty products etc.

But the unique use case for web3 and phygital is creating a product that has yet to go into production or a limited edition of an existing product that creates a unique consumer experience and added value.

Moët Hennessy has an amazing use case in this space.

Using the BlockBar marketplace, it offers exclusive decanters of its famous cognacs. Currently on offer is Hennessy Paradis Golden Edition, with only 500 bottles that will be available to redeem in September of 2023.

What are some key takeaways from this drop?

• Collectibility - Unique digital product certified by the blockchain

• Scarcity - Limited numbers of only 500

• Ownership - The owner now holds the NFT in their digital wallet

• Secondary Market - The NFT can be sold or gifted prior to redemption

This is one of many use cases of how phygital can add value to an existing brand's offerings or create new products around a brand's DNA

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