Munich-based MetaBrewSociety (MBS) will soon offer voting rights on the business decisions of a physical brewery via nonfungible tokens (NFTs) and a decentralized autonomous organization (DAO).
The MBS was formed in February this year by a group of beer-loving NFT investors and entrepreneurs that came up with the idea to combine a brewery with the Metaverse, a DAO and NFTs to create a “tangible IRL utility that carries a concrete value” for participants.
As part of the project, MBS will offer a range of tokenized “beer share” certificates that offer varying levels of governance rights over a physical brewery in Munich that will also have a presence in the Metaverse. The Sandbox platform is being considered as a potential location.
All of the NFTs will entitle the holder to at least 100 cans of free beer per year, with the sale of the NFTs helping to fund the purchase and scaling of the brewery. Once the physical location has been purchased, the project will then form a DAO consisting of the NFT holders.
Speaking with Cointelegraph, the co-founder and CEO of the MBS, Holger Mannweiler, noted that the DAO will play an important role in the governance of the business moving forward, while also playing a key part in consumer research:
“The DAO will take all major business decisions from which beers we´ll brew, how we´ll price them to non-NFT holders, where we’ll sell them, etc.”
“The beauty of this DAO is that it also represents a huge permanent target group, something which other consumer brands need to spend a lot of time and money for,” he added.
The MBS will roll out a total of 6,000 NFTs in two stages, with first access given to whitelisted members at an unspecified date in the near future. Once 75% of the NFTs have been minted, the MBS will execute a purchase of an existing brewery that will have its name changed to the “MetaBrewery.”
Mannweiler stated that the project will most likely “airdrop the beer allowance right for every year to…
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