How Damon Nam Created The World’s First Community-Owned Alcohol Brand

The thirst for craft alcohol is getting stronger and stronger, but one of the biggest problems in the industry is how centralized it has become. The traditional alcohol industry is dominated by a few powerful corporations that have been around for decades. According to reports, the top five global brewers control 80% of all production volumes and distribution of alcohol. What’s more, craft breweries are on the decline because they can’t afford to compete with big companies who are taking over the market. It’s no surprise then that people would turn to NFTs as a way to shake up this highly concentrated alcohol industry. Damon Nam is one person leading the charge to decentralize the alcohol industry and create a thriving community of like-minded people.

Damon Nam is a self-professed digital nomad with a deep passion for finance, technology, and investing. In his long and rich career, Nam has been privileged to work for some of the biggest companies in the world and make an impact through tech. Some of Nam’s accomplishments include working as a tech executive for 23+ years and being an alumnus of Microsoft, where he worked for 17 years. Nam is also a passionate entrepreneur with varied interests. Over the past 6 years, he’s been heavily involved in blockchain and decentralized projects. His notable successes in the field include working as the founder of Coin and being an advisor at HOLDVERSE.

Now Nam is changing the commerce industry in a large way as the co-founder of PRIVÉ, a community-owned Decentralized Autonomous Organization (DAO) for luxury lifestyle goods and services. The PRIVÉ NFT collection contains 9,999 unique characters with hundreds of distinct attributes. Nam has collaborated with various experts on this project to give the holders memorable and rewarding experiences. The team working on the products comprises cellar masters working for Frerejean Freres, popularly known as the champagne supplier of choice for the Michelin Awards.

Membership in this exclusive club also gives PRIVÉ project holders access to other entrepreneurs, investors, tastemakers, creators, and connoisseurs from all parts of the world. The website in part says, “Club membership is limited to less than ten thousand global members with access to ownership of PRIVÉ RÉSERVE champagne crafted in Avize, France. ” The goal is to create just the right amount of engagement between community members through curated experiences.

According to the project’s website, PRIVÉ is a lifestyle brand in a world where digital meets physical. Its mission is to “merge a private digital country club with exclusive products and experiences that increase over time.” Interested parties must be holders of the community’s NFT to gain access to this private members’ club. Members can hold either Frances or Champ, PRIVÉ’s official mascots. In addition to owning these well-designed artworks, the members will also enjoy genuine, world-class champagne from France.

One reason the project stands out is because of its commitment to changing the alcohol sector and giving members exclusive access to benefits previously not seen on any other project. PRIVÉ‘s ecosystem comprises awesome NFT art, a genuine, world-class product, and a tokenized economy. The latter will help make decisions and keep things organized for the community’s benefit.

As the project grows, the leadership will introduce new features and products for the members’ benefit. They will also issue invitations to events such as parties and private tastings, and grant members access to an ever-increasing list of VIP benefits.

The post How Damon Nam Created The World’s First Community-Owned Alcohol Brand appeared first on LA Weekly.