NFTs granting the club vibe? Miami brands like E11even making them the digital velvet rope
Few concepts are more fundamental to Miami than the club. Whether it’s the dance or social variety, Miamians like to go places that carry a special sense of belonging.
Now, a technology has arrived ready-made for Miami’s clubbing ethos: non-fungible tokens, or NFTs. For a town that celebrates new money and creative ways of making it, Miami is a logical place to suddenly find itself awash in these digital, investable mechanisms — and to have them tied to nightlife venues.
NFTs first gained traction in the art world, as a way to prove ownership of a unique digital work. Some NFTs also come with so-called “smart contracts” that allow a work’s original artist to take a cut from the proceeds of subsequent sales.
But NFTs always carried the potential to grant their holders a wider array of other benefits. And it is there where lifestyle brands like “ultra” club E11even are now looking to cash in.
E11even has announced the launch of an NFT collection called the Captain’s Club. In physical form, the NFTs will consist of new editions of E11even-branded baseball caps.
But E11even Partners owner and downtown Miami property developer Michael Simkins says owning one of the caps will also grant owners access to exclusive events and experiences, starting next month at the Bitcoin 22 conference on Miami Beach. There, club members will be treated to what he said would be world-class performances by top entertainers.
The current cost will be set at 1 ETH, or about $2,500.
“We believe in the future of digital currencies and NFTs, and we started thinking about how E11even can enter the NFT community,” Simkins said. “What really got us excited was projects offering utility — NFTs that can do things, act as membership or access, and not just solely art.”
Meanwhile, Japanese-Peruvian fusion restaurant chain Chotto Matte, which has a South Beach location, is minting an NFT valued at $1 million that will grant its buyer the following:
▪ Personal invitations to every Chotto Matte restaurant opening around the world, plus first-class flights and five-star accommodations
▪ Access to an annual distillery, vineyard and premium farm visit
▪ A New Year’s Eve dinner invitation for six at any Chotto Matte location
▪ An exclusive at-home experience with Chotto’s executive chef
▪ A major sports event ticket for two people per year
“Innovation is a pillar of the Chotto Matte brand; from the menu to design, we always aim to push the boundaries,” Kurt Zdesar, owner and founder of Chotto Matte, said in a statement. “After great successes in the U.S., Europe and Canada, the crypto space is another market I want to explore. It’s the future and there is so much yet to be done.”
A third local club NFT membership is being rolled out by a new entity called Bone’s CLUB. While details are still being held closely, according to its website, a CLUB membership will grant members access to a dining experience among other things. The CLUB has already rolled out a Japanese-inflected menu.
Other examples are popping up in New York City, including a club in TriBeCa whose NFT-owning members will enjoy their own liquor lockers.
It is these types of socialized versions of NFTs that are likely to resonate more profoundly with lay people — albeit ones with lots of money — than NFTs that are strictly tied to a single, often static digital work, in which the holder is mostly hoping to see a return on an investment.
“We’re hyper-focused on our community and the utility of what we can offer both in real life and [digitally],” E11even’s Simkins said. “We’re really excited about the future — it’s a perfect [business] to enter the NFT space because it’s an in-demand business. Being an NFT holder means being part of the E11even family, and we’re excited about welcoming more family members.”
