NFTs, Velvet Ropes, and Miami
In partnership with Horizen Labs (a blockchain firm), club E11EVEN is teaming up to create a crypto-dedicated division referred to as ‘E11EVEN Crypto.’ This new division was announced last week and is planning to introduce NFTs (non-fungible tokens) to the Miami club scene.
NFTs have made huge headway in the US and especially in Miami. Private clubs, Art Basel, and real estate have all traded NFTs in the recent year and we can only expect that this blockchain market will continue to grow.
In order to understand the big news of E11EVEN, you must first understand what an NFT is. An NFT is a non-fungible token meaning that it’s unique and cannot be replaced with something else. If you look at bitcoin, you can trade one for another and you will have exactly the same thing with a set price. With an NFT card, if you were to trade it with another card, it will be valued at something completely different.
The collection of E11EVEN’s NFTs will be referred to as “11 Captain’s Club.” The artwork itself is inspired by the Miami club scene and will include the club’s iconic hat designs. Just one ETF will be priced at around $2,700.
Club E11EVEN has always been known for keeping up with trends and creating innovative revenue streams. The brand has its own vodka label, an apparel company, and even a real estate LLC that partners with FTX for its crypto operations. With this new NFT division, E11EVEN will pave the way for other brands to be involved in the crypto culture and club scene in the US.
According to the owner of E11EVEN, Michael Simkins, “We were the first major club to accept crypto as payment, and now we’ve processed over $5 million of it at the nightclub.”
Horizen Labs stated that they raised $7 million in August for the funding of this NFT division. E11EVEN is set to release the NFTs during the upcoming Bitcoin 2022 conference in April.
