In the world of crypto, NFTs are not as in-demand as they were just a year ago. But that doesn't mean it's a dying industry; if anything, it's just settling down into that long-term growth that all new digital arenas eventually find after the initial rush.
Riding this wave of continuity into the future, famed Miami nightlife company E11even has recently launched their very own line of NFTs, known as the 11 Captain's Club.
Instead of enjoying the same lackluster performance as other NFTs currently struggle with, 11 Captain's Club sold out almost immediately. It's a good sign that not only is E11even's popularity soaring to new heights, but the pairing between hospitality and crypto sources is something that intrigues buyers - and could shape the future of two industries.
Is the collab between hospitality and crypto the natural dream-team? After all, people engaging in hospitality pursuits often long for privacy, which crypto can provide - is this team-up the next natural evolution of two very different industries?
11 Captain's Club Sells Out
A club and nightlife brand selling NFTs? Why not! E11even is the first nightlife brand to launch an NFT community, and fans were eager to be a part of the debut experience.
11 Captain's Club is an exclusive series of 1,111 NFTs featuring the club's coveted hats. All of the available NFTs were sold at a price of 3 ETH each, and are now available for resale on OpenSea.
Captain's Club owners who visit the club get an experience that's unique, with VIP invites and information that elevates their visit to E11even.
Benefits of belonging include:
- Mint Pass: first access to all future NFT projects, along with collaborations with NFT partners.
- IRL Pass: priority access to exclusive events in the brand ecosystem including: Miami Ultraclub, Hotel & Residences, rooftop restaurant Giselle, and pop-ups around the world.
- Captains-Only Events: invitations to events exclusively for Captain's Club holders.
- Community: token-gated access to private areas of the 11 Captain's Club discord server.
- Merch: limited-edition product releases and gifts including apparel, vodka and more.
Michael Simkins, CEO of E11EVEN Crypto shares in a statement, "While most NFTs are currently down, this successful launch proves that IRL utility based NFT communities are thriving and only the communities that provide tangible utility will survive and thrive in this new decentralized, transferable, shared success membership. We couldn't be more grateful for our incredible community and are excited for all of the new products, collaborations, and exclusive events that will come for our Captains."
This is the newest project for E11even Crypto, which was launched in March and is teaming up with Horizon Labs to release more NFTs in the future.
The 'Anonymity' of Crypto
11 Captain's Club and E11even Crypto is a lurch sideways into the digital world for a club that exists very much in the solid here and now, an interesting trailblazing move for other hospitality venues to follow.
But what makes it the most intriguing is the implication of folding crypto into a guest's hospitality interactions. There are two important focuses in the world of hospitality: service and privacy.
Cryptocurrency is often considered the gold standard for anonymity and private transactions. While it's easy enough for a law enforcement agency to track the source of most crypto transactions, it's the illusion of anonymity that may appeal to hospitality industry guests.
Because all the average snoop will find at a glance is the anonymous facade of cryptocurrency, they'd have to work to dig deeper and get private information that guests may want to keep under wraps. Wealthy and famous guests in particular may benefit from the ability to move between resorts, clubs and casinos without leaving a glaring paper trail for the nosy to follow.
That makes it the perfect pairing: a form of money transaction that provides guests with more anonymity than other payments, and an industry that's looking to integrate into the digital future despite having a solid real-world function.
A Natural Pairing
E11even isn't the first hospitality venue to launch into the world of crypto and NFTs; in 2021 a number of resorts and casinos began accepting crypto for services, and Resorts World Las Vegas became the world's largest venue to make the move.
But so far the shift to accept crypto has been relegated solely to accepting cryptocurrency, not cashing in on the community that comes with club NFTs.
At the close of 2021, E11even changed everything by buying Bored Ape #11 for $400K, joining the Bored Ape Yacht Club and creating a new and intriguing way for fans of the club and brand to connect. After all, if you're a Bored Ape owner - you're probably going to stop by and visit a fellow Bored Ape owner when you're looking for a nightlife venue on your next Miami stay.
The next step was to create their own, and fold fans into the experience one-on-one. Owning a piece of a brand you hold near and dear connects you with it more deeply than ever, and creates a unique (but frankly bizarre) community experience that lives at the intersection of nightlife, art, cryptocurrency and collectibles.
But however bizarre it might seem from the outside, it worked. With the instant sale of 11 Captain's Club NFTs, E11even is already focusing on their next NFTs.