• Are Social Clubs in New York City the Next Target for NFTs?

  • With a new 8,000 square-foot venue that will demand crypto for access, NFTs are pushing their way into the NYC nightlife and social club scenes.

    The New York nightlife scene is poised to be seasoned with a sprinkle of crypto-exclusivity, with NFTs set to leave their imprint on Maxwell Tribeca, New York’s newest social club. The club is patterned after txokos, which are dining clubs in San Sebastian, Spain.

    The club will debut in New York City in July 2022, but it is not your typical institution. According to what we know, clients will need to own a non-fungible token, or NFT, to gain access to the 8000-square-foot venue. It has the luster of being in a renowned location, with classy décor, members-only benefits, and a well-versed founding team.

    NFT holders will have access to godlike experiences reserved for society’s upper crust upon admittance – clients will be able to have their own booze lockers, as the venue will not have a physical bar. The user will be able to pour himself a drink by using his liquor locker.

    “We’re attempting to build thousands of second homes, not third spaces, where individuals belong, and NFTs are a means to an end,” the club’s creator, David Litwak, explains.

    Membership at the club begins at $1,000 for shared liquor lockers, with a monthly cost of $250. Following that, modest liquor lockers will cost $5,000 and large lockers will cost $8,000.

    Do you have your Flyfish Club NFT?

    Flyfish Club, brought to the space by Gary Vaynerchuk and VCR Group, is another restaurant that will accept NFTs as an access pass. It will be a luxury seafood-inspired restaurant. In January 2022, the company issued 1501 Flyfish Club NFTs and plans to open its doors in 2023.

    On secondary markets, a normal membership token sells for $13600. Another membership ticket is available for $29500, which includes a multi-course sushi feast known as omakase. Owners can transfer membership by selling or leasing NFTs.

    According to Vaynerchuk and VCR Group CEO David Rodolitz, “social currency” is a key component of the club’s attractiveness. In other words, people will be able to communicate their preferences through their assets, notably NFTs.

    For restaurateurs, this is uncharted territory.

    It goes without saying that creating a tangible experience based on ownership of a digital asset is uncharted ground. Owners of popular NFT collections have traditionally congregated in online groups or the metaverse. Having said that, around $15 million has been raised through NFTs thus far. Even if some owners may not attend the club, this demonstrates a healthy demand.

    Rodolitz acknowledges that the club must meet expectations. He envisions a high-priced 10000-square-foot apartment in a yet-to-be-determined Manhattan location. NFT holders will also have access to private events and wine tastings.

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