How much would you pay to drink for free at your favorite craft brewery for the rest of your life? That question was answered by a Denver Beer Co. enthusiast when he recently won the auction for the NFT “Beer for Life” for 4.33 of the cryptocurrency Ethereum (approximately $ 9,200 at the time of purchase).
“We like to play on the edge of the news, be fresh and try new things,” says Charlie Berger, co-founder of Denver Beer Co. “We had to learn about NFTs. Not many of them knew about them nine months ago. We just wanted to try it out, and we wanted to learn about it by creating it. “
Denver Beer Company NFT Beer for Life
An NFT or non-fungible token is a unique work of art that lives on the Ethereum blockchain. Not fungible means that 1 NFT does not necessarily correspond to 1 NFT, in contrast to a fungible token such as Bitcoin (BTC) or Ethereum (ETH), where 1 BTC = 1 BTC and 1 ETH = 1 ETH.
An NFT “tells the buyer and the market that the asset is unique,” according to NFT enthusiast and collector Phil Mueller. “They are used for photos, art, music, games, etc. in the crypto room.” Some of the most popular projects in the stressful NFT world include CryptoPunks, NBATopShot and the Bored Ape Yacht Club.
Bored Ape Yacht Club is an example of one of the most popular NFTs
“NFTs are more than a glorified JPEG or animation. The benefit of an NFT differs depending on the project with different goals and roadmaps. The utility part of the NFT equation is constantly being expanded and innovated. ”Müller explains. “Some projects (like the Bay Area Yacht Club or the Gutter Cat Gang) gave airdrop [or gifted] additional NFTs to holders, while others (like Entrepreneur Gary Vaynerchuk’s VeeFriends project) have tickets for [events such as] Conventions. “
The Denver Beer Co. team were interested in NFTs and wanted to create their own. “We wanted it to be a big deal, we wanted to offer something pretty unique and pretty cool,” said Berger. And that something was beer for life. “We immediately chose beer for life,” added Berger, adding that they had some discussions about what that actually meant. The team opted for four beers a day for the NFT owner, which should be consumed by the owner and all guests on site.
Berger noted that some of her Denver food and drink friends reached out to learn more about NFTs and their experiences with the project. He also stated that they may want to do more in the NFT space in the future.
Photo by Stacey McMahan
Müller loves such innovations from one company. “In my personal opinion, it’s awesome. I know I love the NFT room and all of the Metaverse ideas, but face-to-face human interaction is a plus in my eyes. It’s about building a family, a community that supports the project / facility and lets its owner / supervisor participate alongside the creative people. “
Berger wasn’t sure who would be the winner of the auction, but they were thrilled when it turned out that the highest bidder was a regular. “It was already in, and our staff already know it.” Since this is an NFT where the token can be resold, the winner may not have to drink all 1,300 beers that would break even. This means that if you buy this token and want Beer for Life from Denver Beer Co., you can immediately make an offer for the Beer for Life token. When asked whether he was of the opinion that the winner could drink enough beer in the course of his life to cover the costs of the award, Berger replied: “Time will tell!”
Denver Beer Co. is celebrating its 10th anniversary with an anniversary party on August 21st.
Phil Mueller is a self-described “Renaissance Man” currently working on an NFT animated project, Deadheads, and is co-hosting the upcoming Twitch stream and podcast: Talking Headz. You can find him on Twitter @ phibacka31.