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 who came up with the idea of combining 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 provide varying levels of governance rights over a physical brewery in Munich, which will also have a presence in the Metaverse. The Sandbox (SAND) platform is being considered as a potential location.
All of the NFTs will entitle the holder to at least 100 free cans of 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 that will consist 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 the NFT holders as a separate NFT so they can sell/monetize it if they don´t need the beer in a certain year or hold more NFTs than they can drink.“
The MBS will use the Metaverse-based variant of its brewery as a way to increase the exposure of the project while also acting as an online shop fo its range of beers.
Mannweiler highlighted that Web3 concepts such as DAOs and NFTs can help stimulate and modernize “even the most old-fashioned brands” as they enable the creation of dedicated communities, which can actively shape the trajectory of a company:
“The community holding the NFTs is a permanent target group of young innovative beer lovers that can help to shape and revive any brand by guiding it towards brand and product experiences that resonate with exactly this target group. “
“If the NFT holders like what they get, they will be our greatest brand ambassadors and will help to onboard friends and family to the MetaBrewSociety experience, thus building the basis for insane future growth,” Mannweiler added.
Related: Beyond the hype: NFTs can lead the way in transforming business experiences
The co-founder stated that the MBS may launch a second NFT drop if the option of a second brewery becomes a reality in the future.
“In terms of additional tokens, there are several options that we will explore with our DAO. First, we may drop more NFTs to buy another brewery… potentially one after another if we see [that the] demand for our approach is high enough,” he said.