The craft champagne industry has been a niche market for many years, and with good reason. Some reasons why this business has thrived for so long and remains profitable are strict rules on production and high-quality standards; its value as an emblematic product of France; and its prestigious heritage dating back centuries. With supply chain issues affecting most industries, Damon Nam has leveraged his expertise in decentralized finance and blockchain technology to help community owners continue to enjoy luxury goods. His latest venture, PRIVÉ, is setting standards in the craft champagne industry and proving blockchain can be effective in all sectors.
As a digital nomad, finance expert, and blockchain expert, Damon has been involved in several successful projects in the past six years. With his experiences from projects such as HOLDVERSE and Coin, Damon is aware of the potential for blockchain to disrupt industries. That’s what he seeks to achieve with PRIVÉ. According to the project’s website, PRIVÉ is craft champagne powered by the community for the metaverse. As the world’s first project of its kind, the PRIVE team chose to incorporate blockchain technology to create uniqueness, give members a foolproof tool to confirm authenticity, and provide distributed ownership.
PRIVE RESERVE, the project’s craft champagne brand, combines those features to create a premium collection that can be collected, verified as authentic, and has a vision controlled by the community. All the decisions concerning future developments must first pass through the PRIVE DAO, which will decide whether the proposed changes will be made or not. Being in a traditionally centralized industry will help democratize the alcohol sector and give members unprecedented experience.
The PRIVE SOCIETE is “a private membership community of entrepreneurs, investors, tastemakers, creators, and connoisseurs who receive a lifetime of benefits and networking opportunities through PRIVE NFT ownership.” In other words, Damon and his team of experts seek to create a community of luxury brand lovers united by a common goal through the PRIVE token. You must be a holder of the PRIVE NFT to become a member of this community. Unlike many projects in the NFT space, PRIVÉ extends beyond NFTs and fuses the physical and digital worlds to create an entire ecosystem of products and experiences.
To give these members maximum utility out of their NFTs, Damon and the team are limiting the membership to fewer than 10,000 global members. The reason for that decision is to ensure that members enjoy curated experiences and still engage with one another meaningfully. The PRIVE collection comprises 9,999 unique NFTs, and the team doesn’t intend to create more. These 9,999 members of the exclusive PRIVE society will use their NFTs to gain exclusive access to ownership of PRIVE RESERVE champagne crafted in Avize, France.
Among other benefits, the members will enjoy access to private events and offerings, services, merchandise, and products under the PRIVE brand. As the project grows, the PRIVE DAO might also decide to expand its scope to other brands and products. However, the goal right now is to give the PRIVE Project holders unparalleled experience and revolutionize the alcohol industry using blockchain. From quality control to utility to community engagement, Damon and his team are leaving no stone unturned. The goal is to make PRIVE the best project in the NFT world and to democratize an industry that’s long been controlled by a few individuals.