At least once in our life many of us have thought about running our own cafés, isn’t it? Chilling with our friends at the end of the day in our own venue.
Well thanks to NFTs, you have a chance to be a co-owner of a coffee shop. Join theCaféDAO, the first-ever DAO-run coffee shop.
Hang On, You can join theCaféDAO for just $5?
We have witnessed various NFT-based restaurants and eateries, and we have also seen NFTs combined with wines, but theCaféDAO is frankly something else. At its essence, the trade is an employee-driven business that workers truly want to join and help to grow. Shoppers that support the business will also have a vote in business decisions in the future. Basically, the business’s triumph and profits reward the whole company, not just the executive team and shareholders.
A traditional coffee chain focuses on financial prosperity among the few owners, while the rest of the company makes salaries that are technically known as ‘business expenses’. theCaféDAO cites those that add value to the business. For example, employee loyalty, customer support, creative business ideas, and lending money to the DAO, all earn rewards.
You can already notice the DAO in action on the official website. There are currently 2 Coffee Proposals (CPs), and both are already concluded. For instance, CP 2 is a suggestion to run a brick-and-mortar business at the Seattle NFT Museum as a pop-up coffee store from 31 April to 1 May. Evidently, the DAO approved it.
In the previous week, Dustin Tong and his team kept their first pop-up coffee stand outside the Seattle NFT Museum, where customers could learn more. In fact, during the weekend, they had the opportunity to run a few Web3 workshops for the public. The team firmly believes that this is the future of business and what more satisfactory way to kick off with everyone’s favorite beverage i.e. coffee.
Presenting the tokenomics, with a hint of caffeine
The tokens in the cafe are known as Coffee Tokens (CT). Regardless, the team will now use imitation Coffee Tokens (iCT) until the major launch. This step is to avert any unnecessary blockchain-related fees during the testing step. Given that they only worked for 2 days, there are only 83 iCTs in circulation. theCaféDAO aims to have a proper launch with absolutely nothing set aside for any party. The only initial token allocation is for a $34.65 loan to purchase a French press.
Additionally, there will be no maximum CT supply. CTs will be developed according to the revenue generation and burned to cover operational costs. There is no ‘passive income’ in this community this means that the more you contribute, the more CTs you get. If owners feel that they no longer desire to participate in theCaféDAO, they may cash out their CTs.
Since all the CTs are supported by actual revenue placed in the treasury, the CT value will still stay the same at $5 per CT.
This DAO-run coffee shop concept appears to be an interesting concept. Nevertheless, do keep an eye out for their next store opening to get your hands on some perfumed Coffee Tokens!
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NFTHI does not recommend any kind of Investment in NFTs or NFT trading. All the strategies are merely educational references.
Conduct thorough research before you start with NFT trading.