La Flor Dominicana announced earlier this year that they would be releasing an NFT (Non-Fungible Token). However, unlike most NFTs, this one would come with the right to buy seventy Andalusian Bulls a month indefinitely in new size dubbed the “Golden NFT” – a 6 1/4 x 42 Lonsdale and do with it as they please. The NFT also comes with the signature artwork that an NFT is known for PLUS a gold bar styled humidor called “The Gold Bullion” humidor. These NFTs were open to any bidder worldwide.
We first saw all the pieces to this at the PCA 2022 Trade Show last month in Las Vegas. You can see that coverage here: PCA 2022: La Flor Dominicana
The NFT auctions ran every forty-eight hours. NFT #1 went live at 12PM on 8/11. The first NFT closed at an amazing $85,000 to Alexander Martinez of Mane Street Cigars. The middle auctions and their winning bids continued to climb until a small drop off with #6 before closing out the last NFT today at $98,001. As they say, it’s all over folks. Below is a list with every winner and the winning bid.
NFT #1: Alexander Martinez (Mane Street Cigars) – Winning Bid: $85,000
NFT #2: Alexander Martinez (Mane Street Cigars) – Winning Bid: $78,001
NFT #3: Username “Nberr” (Private/Anonymous) – Winning Bid – $90,000
NFT #4: Billy O (Jack Schwartz Importers) – Winning Bid: $90,000
NFT #5: Cigar Country – Winning Bid: $92,000
NFT #6: Mitul Shah (Son’s Cigar & Lounge) & Danny D (Tobacco Plaza) – Winning Bid – $81,777
NFT#7: “Preston” (Identity Not Yet Confirmed) – Winning Bid: $98,001
Final Total: $614,779
So far all but one of the NFTs have gone to retailers (one went to a private buyer and the final one has yet to be confirmed who the winner’s identity is) and one of those retailers owns the first two. #6 went to two shops who have seemed to split it. After the climbing prices of the NFTs as the auctions continued, I expected them to break over $100,000. But after back-to-back $90,000 winning bids on #3, #4, and $92,000 on #5, I thought we would continue to see a trend up. #6 only sold for $81,777 after that climb in prices.
Now that #7 is closed, none went above $100,000 even after a handful of new names entered the pot. I expected that the last minute “fear of missing out” buyers would come to play and I would say they did. Popular online cigar retailer Neptune Cigars was bidding all along but came out VERY strong at the end. Preston, the final winner, didn’t appear until the last NFT. I think all of the people who really wanted one and were bidding aggressively early on have secured one at this point and bowed out and left it up to some new blood. The final total of all the NFTs was $614,779
Now that it is all over, the next question is waiting to be answered – what will these retailers sell them for? That and how long until the first round is available? Anyone interested in seeing all seven auction pages of the LFD NFTs can go to www.nft.lfdcigars.com for more information or visit the auction page directly here: LFD NFT Auction Site
Fans of LFD in their Discord chat room have begun to band together and request another, much larger format size of the Andalusian Bull. LFD has said in an effort to protect the integrity and value of the NFTs for their new and exclusive owners, that at this time they will not make any new sizes of the Andalusian Bull outside of the two that now currently exist. However, like everything – time will tell if this stays true.
Lastly, I want to say congratulations to all of the winners and congratulations to the Gomez family on this amazing achievement. While I was at TPE 2022 and when I visited a handful of shops over the last few years, I continued to hear nothing but trash talk against La Flor Dominicana and people who swore they were going to sell out to one of the big four. People who continued to complain that their back orders were too problematic, that they were “in trouble” and their lack of presence at one PCA show would ruin them.
La Flor Dominicana took some time during the pandemic to sort out some internal things and do some housekeeping. They came back to PCA this year and had a hell of a show. Litto Gomez Jr. is joining the ranks of his father and older brother and will be bringing LFD’s newest core line cigar out this fall with Solis. Jonathan M Carney, Vice-President of Sales, pioneered a new and very successful event concept with the LFD Gourmet Smoke Sessions events. Now, La Flor Domincana just sold the first seven NFT’s of their kind and set a new standard not just within our industry, but every industry moving forward. LFD isn’t going anywhere but up and…just made history.