La Flor Dominicana NFT Auction Concludes—More Than $600,000 Raised In Sale
The final La Flor Dominicana NFT Andalusian Bull—The Golden closed at auction yesterday for $98,001. It was the priciest of the seven NFTs auctioned by the company in a sale that began on August 13. None of the NFTs went for less than $78,000.
“We took a giant leap of faith doing something totally unprecedented in the cigar world, and I think it was in the spirit of LFD,” said Tony Gomez of La Flor Dominicana, which makes its cigars in the Dominican Republic. “The same can be said for everyone who got involved in the bidding process, and we want to thank them for their trust and belief in both LFD and the project itself. Together we made cigar history.”
Financial experts might quibble with the term: NFTs are by their nature digital assets. What was auctioned off by La Flor goes beyond the digital, as it gives the winner the right to buy cigars directly from La Flor that no one else can. The seven winners have the ability to purchase up to 70 Andalusian Bull—The Golden cigars per month. (The cigar was originally called The Golden Bull, but La Flor recently changed the name, as well as the look of the box.) It also comes with a humidor.
The cigar is a new one, made with a blend similar to the fatter La Flor Dominicana Andalusian Bull, once named Cigar of the Year by Cigar Aficionado magazine. The Golden is around a corona size, measuring 6 1/4 inches long by 42 ring gauge, and comes in 14-count-boxes. La Flor has said it will only sell these to the winners of the NFTs; it has also said it will add no more sizes to the Andalusian Bull line. Production will continue on the original Andalusian Bull, which is sold in traditional fashion. The big cigar is in short supply, given its high rating and difficulty to make.
La Flor will sell Andalusian Bull—The Golden for $15 apiece to the winners. Some of the winners are cigar retailers, so it remains unclear what price will end up on the cigars that are sold to consumers.
