Denver Beer Co. NFT Release Grants Owner “Beer for Life”
How much would you pay to drink for free, for the rest of your life, at your favorite Craft Brewery? It’s a question that was answered by one Denver Beer Co. enthusiast when he won the auction for the “Beer for Life” NFT recently for 4.33 of the Cryptocurrency Ethereum (roughly $9,200 USD at the time of purchase).
“We like to play on the edge of the news and be fresh and try new things,” says Denver Beer Co.’s Co-Founder Charlie Berger. “We had to learn about NFT’s. Not many people knew about them nine months ago. We really just wanted to just try it, and we wanted to learn about it by creating it.”
An NFT, or non-fungible token, is a one-of-a-kind artwork that lives on the Ethereum blockchain. Non-fungible means that 1 NFT does not necessarily equal 1 NFT, opposed 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 market that the asset is unique,” according to NFT love and collector Phil Mueller. “They are used for photos, art, music, games, etc in the crypto space.” Some of the most popular projects in the burdening NFT world include CryptoPunks, NBATopShot, and the Bored Ape Yacht Club.
“NFT’s are more than a glorified jpeg, or animation. The utility of an NFT differs depending on the project with different goals and roadmaps. The utility piece of the NFT equation is continually expanding and innovating.” Mueller explains. “Some projects (such as the Bay Area Yacht Club or Gutter Cat Gang) have given airdropped [or gifted] additional NFTs to holders, while others (such as Entrepreneur Gary Vaynerchuk’s VeeFriends project) provide tickets to [events such as] conventions.”
The Denver Beer Co. team was interested in NFT’s and wanted to create their own. “We wanted this 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 settled on beer for life right away,” Berger added stated that they had some discussions on what that actually meant. The team settled on four beers a day, every day, for the NFT holder to be consumed on-site by the holder and any guests.
Berger noted that some of their friends in the Denver food/drink space reached out to learn more about NFT’s and their experience with this project. He also stated that they are potentially looking to do more in the NFT space in the future.
Mueller loves this sort of innovation from a company. “In my personal opinion, it’s genius. I know that I love the NFT space and all metaverse ideas, but human face-to-face interaction is a plus in my eyes. It’s all about building a family, a community, that supports the project/establishment and allows their holders/patrons to participate alongside the creatives.“
Berger was not sure who the winner of the auction would be, but they were excited when the highest bidder turned out to be a regular. “He has already been in, and our staff knows him already.” Because this is an NFT, that the token can be resold, the winner may not have to drink all 1,300 beers it would cost to break even. What this means is that if you want to purchase this token, and have beer for life from Denver Beer Co., you can go and make an offer on the “Beer for Life” token right now. When asked if he thought the winner would be able to drink enough beer over his lifetime to cover the cost of the winning bid, Berger answered: “Time will tell!”
Denver Beer Co. will be celebrating its 10th anniversary with an Anniversary party held on August 21.
Phil Mueller is a self-described “Renaissance Man” who is currently working on an animated NFT project, Deadheads, and the co-host of the upcoming Twitch Stream and Podcast: Talking Headz. You can find him on Twitter @phibacka31.