721 Vodka is Named After the Framework for Managing NFTs
Laura McQuarrie — July 16, 2024 — Lifestyle
References: degendistillery & thespiritsbusiness
721 Vodka is a super-premium vodka by Degen Distillery and its Degeneration community, and it's a first-of-its-kind Web3 vodka that's changing the way products in the alcohol industry are created and distributed. The vodka gets its name from ERC-721, the technical framework for managing non-fungible tokens, or NFTs.
This co-created vodka is filtered once for a smooth, warm taste with a hint of spice and a long, sweet finish. As Sammy Verghese, co-founder and CEO of Degen Distillery, says, "We are co-creating and leading something unprecedented in any industry–revolutionizing the traditional DTC model. We’ll be direct to community, changing the roles of ‘consumers’ to ‘co-creators.'"
721 Vodka launched at Three Friday Nights series and will debut in the UK before launching in Europe and the United States in 2024.
This co-created vodka is filtered once for a smooth, warm taste with a hint of spice and a long, sweet finish. As Sammy Verghese, co-founder and CEO of Degen Distillery, says, "We are co-creating and leading something unprecedented in any industry–revolutionizing the traditional DTC model. We’ll be direct to community, changing the roles of ‘consumers’ to ‘co-creators.'"
721 Vodka launched at Three Friday Nights series and will debut in the UK before launching in Europe and the United States in 2024.
Trend Themes
1. Co-creation Products - Using a collaborative approach, this trend transforms consumers into active participants in product development.
2. Web3 Integration - Incorporating blockchain technology, products are being managed through NFT frameworks, enhancing transparency and ownership.
3. Direct-to-community Distribution - Shifting away from traditional direct-to-consumer models, businesses are engaging communities for more personalized distribution.
Industry Implications
1. Alcohol and Spirits - Innovative approaches to creating and distributing beverages are reshaping the alcohol industry.
2. Blockchain Technology - The integration of NFTs and blockchain principles is opening new pathways for product management and community engagement.
3. E-commerce - Advanced distribution methods that involve community participation are redefining e-commerce strategies.
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