It is a fully decentralized DAO designed to craft premium liquor products.
Have you ever heard of spirits being associated with NFTs? Though a new concept, it has been picking up pace of late. When a user purchases an NFT of a liquor bottle, he’s not merely buying a digital image, but is purchasing the actual, physical bottle. However, your valuable possession is not shipped to you instantly but is kept offsite by either the NFT platform or the distillery. The digital image acts as a certificate of authentication that confirms that you have the rights to that bottle. You can hang on to your purchase as a premium liquor investment, which you can re-sell to anyone else in the market.
Drew Schenck who is popular as Drew Barman on social media has built one such platform which will list its liquor products as a tradable asset in the form of NFTs. Rickhouse DAO is the platform which is named after a warehouse which is used to age bourbon. The idea behind the name was to preserve history which dates back in time. The project is built utilizing the DAO structure, as it aims at creating higher-incentive environments where communities have the ability to own and be involved in the evolution of the brand. Membership can be purchased on the Ethereum blockchain as an ERC-1155 NFT.
There are two levels of membership NFTs:, Founders and Master Distiller. There will be 1,000 Founders’ NFTs. Each Founders NFT will hold 250 units in the DAO. These will be used to fully build out the DAO and get label approval for the liquor. The second level will release 10,000 Master Distillers after the minting of Founders’ NFT. Each Master Distiller NFT holds 25 units of the DAO.
Drew Schenck, apart from managing this project also owns the popular liquor brand Coladka which has captured wide markets. He says that he is confident that Rickhouse DAO will bring out the best the NFT world has to offer and turn out to be an effective introduction of all time.