Gary Vee's NFT-enabled private dining club.
We'd heard the term ‘private dining club’ before - but are now realizing we never understood what they actually were.
Basically, they're clubs where members regularly meet up for dinners, discussion and cultural experiences.
They’re usually based around some sort of membership; and often have some of the strictest membership requirements (like having a net worth of $100M).
Or sometimes, you have to be hand-picked; and pay a $100k registration fee…
(It all sounds very 'Eyes Wide Shut'...why can't we just drive through at McDonalds and chat in the carpark? Way less hassle).
Anyway, the folks behind Flyfish Club (Gary Vaynerchuk and a couple of restaurateur veterans) have created just that, with memberships being sold as NFTs.
(Not the McDonalds version - but the fancy high-priced concept)
The initial mint happened earlier this year, with the team welling around $14M worth of memberships (a total of 501 NFTs).
The cool part is, they’ve taken that money, decked out their first building, and it’s now open to members.
Some buyers have said “nahhh, not interested anymore,” and resold their NFTs on OpenSea for a tidy profit (keeping a 10% commission on every future resale of the NFTs).
Others have leased out their membership month-to-month, giving those who can’t afford an NFT upfront an opportunity to dine at The Flyfish Club’s private dining club - and those who don’t plan on using it an easy way to make some extra cash.
Honestly, it's not a bad idea.
...maybe we should make our McDonalds version a reality?
