This fully decentralized, autonomous organization founded by him is turning NFTs into whiskey.
The digital asset space has seen a steady rise in recent times as global investors are eyeing to grab the best NFT collection that are on offer. Industry experts believe that NFTs will be a part of every operational business in the future, as their prominence will be on an all-time high going forward. A few have already started adapting to this new technology, and Drew Schenck, popular as Drew Barman on social media is one of them. He strongly believes that those who implement this growing technology in their operations now will tend to gain massively in the future, and that’s the reason he has founded Rickhouse DAO, which brings the world of NFTs into the liquor sphere.
We ask him what’s the idea behind naming his NFT project Rickhouse? To this, he answers, “the term Rickhouse is used to designate the type of warehouse where bourbon is aged. No matter how advanced the newer technologies are, we want to preserve the heritage of craftsmanship and there was no better way than a name which has decades old history behind it.” The project is built utilizing the DAO structure, as it aims at creating higher-incentive environments where communities have the ability to own and be involved in the evolution of the brand. Membership can be purchased on the Ethereum blockchain as an ERC-1155 NFT.
There are two levels of membership NFTs: Founders and Master Distiller.
There will be 1,000 Founders’ NFTs. Each Founders NFT will hold 250 units in the DAO. These will be used to fully build out the DAO and get label approval for the liquor.
The second level will release 10,000 Master Distillers after the minting of Founders’ NFT. Each Master Distiller NFT holds 25 units of the DAO.
Schenck is confident that the project will reach astounding levels of success owing to its uniqueness and distinctive features. He also owns the liquor brand Coladka which has established its strong presence in the market.