NAPA VALLEY, Calif., April 12, 2021 /PRNewswire/ -- Yao Family Wines, the critically acclaimed Napa Valley winery founded by retired basketball star and global humanitarian Yao Ming, is releasing its most exclusive wine "THE CHOP" paired with a limited edition NFT. Yao Family Wines becomes the first winery in the world to offer a wine for auction paired with a NFT digital collectible. The CHOP DROP goes live on Wednesday, April 14, 12 pm PST at THE CHOP DROP for 48 hours.
The CHOP DROP wine and NFT auction offers 200 paired lots. A special auction will be held for bottle #11 of THE CHOP and NFT #11, a one-of-one offering in homage to the year that Yao Family Wines released its first vintage, and for the number Yao Ming wore during his NBA career.
THE CHOP 2016 Cabernet Sauvignon is produced from a single barrel of wine from a single vineyard in the famed Rutherford District of Napa Valley. Robert Parker's Wine Advocate awarded THE CHOP 2016 96+ points.
The wine's name and label design are inspired by the Chinese chop (or seal) used by individuals as a signature on official documents and works of art for thousands of years. The seal featured on each bottle of THE CHOP represents the founder's family name YAO in ancient Chinese script and has been featured on each bottle of Yao Family Wines since inception.
"Pairing this exquisite wine with a limited edition NFT should appeal to wine collectors, sports memorabilia collectors, NFT collectors, early adopters and anyone who appreciates the value of one-of-a-kind assets," Jay Behmke, President, Yao Family Wines said. "As a Napa Valley-based winery with a Chinese founder, we're also pleased to dedicate a portion of proceeds from THE CHOP DROP to the Asian American community at this critical time."
"Blockchain is the biggest technology revolution since the Internet. The emergence of NFTs is the first consumer-oriented expression of value creation beyond crypto currency. NFTs are a glimpse into the future of blockchain-powered assets and will become the standard for ownership, trading, provenance and trust," said Jonas Hudson, Co-Founder of The GFT™ Exchange, who, along with AIB Sportsbrands, Inc. (operators of MORE Lifestyle Sports Media) handled launch strategy, blockchain platform development and NFT design.
A percentage of proceeds from THE CHOP DROP will support the Asian American community. Beneficiaries include Asian Health Services (Oakland, Calif.), the Chinatown Community Development Center (San Francisco), the Chinese American Museum DC (CAMDC),Lucky Chow (New York, NY), and The Museum of Chinese in America (New York, NY).
About Yao Family Wines Yao Family Wines was founded in 2011 by retired NBA and China Basketball Association star Yao Ming. The Napa Valley winery released its first wines in 2011 to critical acclaim. Each year since inception, Yao Family Wines releases have received 90+ point scores from some of the world's most respected wine critics, including Robert Parker's The Wine Advocate, who wrote "The former basketball star's initial release immediately establishes itself among the elite Cabernets of Napa Valley."
About The GFT™ Exchange The GFT™ Exchange delivers NFTs that are Authentic Digital Collectibles™ powered by Blockchain technology. The NFTs introduce a revolutionary way for IP owners to deliver a unique and trusted digital asset that has value for the everyday consumer. GFTs™ platform enables IP partners, brands, distribution partners and marketplaces to mint, distribute and reconcile trusted, individually identifiable digital assets to customers. Through a private/public blockchain hybrid approach and an IP alliance (called the GFT™ Alliance), the GFT™ Exchange enables protection for IP owners and consumers when it comes to provenance, asset security, and secure financial reconciliations.
About Our Charity Partners:
Asian Health Services (Oakland, CA) Asian Health Services is a community health center that has been serving Alameda County's most vulnerable children, families and elders since 1974. Serving over 50,000 patients, AHS provides medical, dental and behavioral health services in over 14 Asian languages, regardless of income, insurance status, immigration status, language, or culture. Funds from this initiative will help provide COVID-19 immunizations to at risk and low-income members of our community. https://asianhealthservices.org/
Chinatown Community Development Center (San Francisco, CA) The mission of the Chinatown Community Development Center is to build community and enhance the quality of life for San Francisco residents. We are a community development organization serving the San Francisco Chinatown neighborhood and surrounding areas. Funds from the Yao Family Wines initiative will go to our Feed+Fuel Chinatown program, which addresses food insecurity in our community. https://www.chinatowncdc.org/
Chinese American Museum (Washington DC) The Chinese American Museum in Washington, DC (CAMDC) is a bold undertaking, currently underway, to establish the first and only museum in our nation's capital dedicated to the Chinese American story. Our mission is to advance the understanding and appreciation of the Chinese American experience, by highlighting the history, culture, spirit, and contributions of Chinese Americans to our nation and beyond. Funds from the Yao Family Wines initiative will help support the new museum and its programs. https://www.ChineseAmericanMuseum.org
Lucky Chow (New York, NY) Lucky Chow is a 501(c)3 whose mission is to raise awareness of Asian voices in America through the lens of food and drink via the award-winning PBS Series Lucky Chow hosted by Danielle Chang. Lucky Chow explores the impact of Asian cuisine on a global scale through conversations with everyone from culinary misfits to masters. Funds from the Yao Family Wines initiative will help support production of the upcoming season of Lucky Chow. https://luckychow.org/
Museum of Chinese in America (New York, NY) Since its founding in 1980, the Museum of Chinese in America (MOCA) has celebrated the living history of the Chinese experience in America by preserving and presenting the 200-year history, heritage, culture, and diverse experiences of American communities of Chinese descent. Founded as a community-based organization, MOCA has over a period of four decades maintained our community centrality while gaining a national following of visitors and members. Funds from the Yao Family Wines initiative will help fund MOCA's new permanent home in downtown Manhattan. https://www.mocanyc.org