Home Digital art The Changing Face of Fundraising: PreMEMEium Vodka Offers Non-fungible Tokens

The Changing Face of Fundraising: PreMEMEium Vodka Offers Non-fungible Tokens

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Satellite Spirits, producers of South Fork Vodka, is revolutionizing fundraising with the use of non-fungible tokens.

The valley of the grass business has partnered with the Humane Society of Truckee-Tahoe and NFTY Markets to launch PreMEMEium Vodka. Each bottle comes with its own unique NFT, and $ 10 from each bottle goes directly to The Humane Society.

Only 1,500 bottles associated with NFTs will be marketed.
Provided

Satellite Spirits co-founder Jon Dorfman describes NFTs as a new medium of art, as well as a new implementation of the technology. NFTs are a way to create technological scarcity by allowing artists to digitally sign a piece of art that is tracked using blockchain technology, the same technology used for cryptocurrency.



Each bottle of PreMEMEium Vodka comes with its own limited edition work of art, created by artist Greta Schimmel, in the form of an NFT. The bottle comes with a QR code which, when used, generates the NFT.

“It’s like digitally opening a pack of collectible cards,” Dorfman said.



What makes this approach to fundraising unique is the ability to keep giving with just one purchase. Not only does $ 10 from the purchase of each bottle go back to HSTT, but 10% of all NFT secondary sales royalties also go.

“The Humane Society of Truckee-Tahoe is honored and very happy to be a part of this partnership,” said Katrina Johnson, Events and Fundraising Coordinator at the Humane Society. “Nonprofits, including ours, spent about a year trying to generate some fundraising income from the new NFT craze, and when they came up with such a unique idea, associated with a tangible spirit that many of our supporters already know and love – it also helps raise funds and educate many local organizations and artists – we couldn’t think of a better way for our organization to tap into NFTs.

Dorfman, who is also the CEO of NFTY Markets, is passionate about finding unique ways to use NFTs. The mission of NFTY Markets is to redirect consumers’ attention and intention around consumption and to do so by leveraging the innovation made possible by blockchain and NFTs.

“I want to change the way people interact with their communities,” Dorfman said.

NFTY Markets will host a suite of physical products, each paired with or associated with digital art – an NFT – and a specific philanthropic direction.

“By creating high-end cause-driven physical products, partnering with nonprofits from the start, we intend to completely change the meaning of consumption. It is not a sign of virtue for a brand. These are brands built for virtue, built for intention, with new tools (NFT royalties) that enable new possibilities for creating lifelong value, ”Dorfman said in a press release about the launch of the Fund raising.

NFTs will only be available for the first 1,500 bottles of PreMEMEium Vodka sold. They can be purchased at Long’s Bottle Shop, The Bottle Shop, and Station House in Grass Valley, according to the South Fork Vodka Facebook page.

To learn more about South Fork Vodka, visit http://www.southforkvodka.com.

Laney Griffo is a writer for the Tahoe Daily Tribune, a sister publication of The Union