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MetaBrewSociety to offer voting rights over a brewery via NFTs & DAO

MetaBrewSociety (MBS) will allow MBS investors to vote on official decisions for a physical brewery using NFTs and DAO

Published: Jun 7, 2022 04:41:59 PM IST

MetaBrewSociety (MBS), a decentralised community platform based in Munich, is going to offer voting rights on actual brewery business decisions via the use of NFTs (non-fungible tokens) and a DAO (decentralised autonomous organisation).

A group of beer-loving NFT investors and entrepreneurs formed the MBS in February. The idea was to integrate a physical brewery with the Metaverse, a DAO, and NFTs to create a "tangible IRL utility that carries a concrete value" for users.

A varied range of tokenized “beer share” certificates will be offered as part of this project that will provide governance rights of varying degrees to a physical brewery in Munich, which will also be present within the Metaverse, potentially within The SandBox (SAND).

The NFT holders will be eligible to get at least 100 free cans of beer per year. The proceeds from the sale of NFTs will go towards the purchase and expansion of the brewery. Following the purchase of the physical location, the initiative will form a DAO, comprised of all of the NFT holders.

Co-Founder and CEO of MBS, Holger Mannweiler, recently said that the DAO would have a crucial role in the future governance of the business operations and a key role in consumer research. He stated, "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."

While talking about the importance of DAO, he also mentioned that "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."

MBS plans to launch around 6,000 NFT tokens for purchase in two stages, with whitelisted members getting first access at an unknown time soon. After 75 percent of the NFTs have been issued, the MBS plans to purchase an existing brewery and rename it the "MetaBrewery."

Mannweiler revealed that MBS is most probably going to "airdrop the beer allowance right for every year to the NFT holders as a separate NFT so they can sell/monetise it if they don't need the beer in a certain year or hold more NFTs than they can drink. "

The MBS plans to use the Metaverse version of its brewery to promote and raise awareness about this project while also serving as an online store for its beer selection.

Mannweiler also talked about NFTs and DAOs, stating that they can easily modernise even the most old-fashioned brands by creating dedicated communities and shaping the way for organisations. He also said that "The community holding the NFTs is a permanent target group of young innovative beer lovers that can help shape and revive any brand by guiding it towards brand and product experiences that resonate with this target group. "

The co-founder further added that if things go according to plan and the option of opening another brewery becomes a possibility, they might release another NFT drop for the masses. He said, "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."

Shashank is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash