£50,000 NFT purchase for access to City Members Private Club

Monday, July 11, 2022 12:52 PM

Adrian Karok

by Eliot Wilson

Containment has been a difficult time for private clubs. After all, if your business model relies on people meeting face to face in a physical location, social distancing is social death. Some have managed to adapt: ​​the Ivy Club offered online events for its members, while the Ned sent cocktails to the homes of its inhabitants. Others have folded downright: the Hospital Club is still in mourning.

In adversity, however, there are always opportunities. Step by step Adriano Karok, a Berlin-based entrepreneur with a background in hospitality and events. He is one of the co-founders of Coin Club, a project that blends the friendliness of clubland with the digital world of non-fungible tokens (NFTs). The proposition is simple but striking: by buying a Fat Cat NFT, you gain access to a club of physical members in the heart of the City of London.

Coin Club, which will open early next year, will be a major addition to clubland. Based in a former bank building, it will consist of five floors including a rooftop terrace with views of the Square Mile, gallery space displaying both analog and digital art, and a basement nightclub with a list of renowned DJs. There will also be fine dining at the Coin restaurant, which will offer Japanese cordon bleu cuisine.

It is the membership, however, that sets Coin Club apart. This will be accessible by owning a Fat Cat NFT, distinctive and light-hearted caricatures of cats in everything from sportswear to traditional striped banker attire. They were created in cooperation with Spraykid from New York and 2,222 will be published in total, via the Ethereum blockchain. This gives Coin Club members a personal and unique asset, unlike simple membership fees, and Karok and his co-founders hope it will provide them with a distinctive offer.

Even after the Darwinian natural selection of the pandemic lockdown, clubland is a packed market. Coin Club will have to fight hard for breathing space. Karok describes the atmosphere he hopes to create as “colorful, quirky, and cool,” and there’s certainly a sizable audience to tap into in the crypto community. In addition to the physical space at the London site, Coin Club will offer a 24-hour concierge service via an app. Following in the footsteps of companies like Quintessentially will allow members to find anything from concert tickets to fine wines.

All this will not be cheap. The floor price for a Fat Cat NFT is £50,000, which reflects the demographics that Coin Club is unabashedly targeting: Karok wants high net worth individuals, crypto heads who will spend big on the right vibe and experience. This makes London the obvious choice for its debut: Berlin and Prague are considered, but it is London’s concentration of wealth and financial services, as well as the cultural ecosystem of the “global city”, which prevails.

However, an extension is planned. Paris is on the agenda at the end of 2023, after which New York, Los Angeles and Tokyo are all possible targets. Additionally, Fat Cat owners can access a digital version of Coin Club in the metaverse, through the Sandbox gaming platform.

Karok and its partners tick many trendy boxes. Crypto, NFT, the metaverse – all of these topics are hot, and Coin Club’s ambition is beyond reproach. Despite the economic crunch after Covid-19, a strong market exists for luxury goods and services, and exclusivity and quality will appeal if presented correctly. It’s easy to imagine Coin Club capturing the imagination of wealthy, iconoclastic young entrepreneurs in the crypto space who want to party and network in a stylish environment.

Coin Club is an eye-catching offer. Adriano Karok, steeped in both events and financial services and with a wide, easy smile, makes success the easiest thing in the world. If trust was enough, he and his partners would be assured palms of glory. The real test, however, will come early next year, when promises have to be delivered and the first location opens. It will certainly be a lively addition to the social and cultural world of London… let’s see if it lasts.

Written by Eliot Wilson, co-founder of Pivot Point Group.

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