Are NFT-based private clubs the future?

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Hi there,

A couple of months ago, I heard from a friend that one of our former classmates is an owner of a Bored Ape Yacht Club NFT. Apparently, he’d minted one when the project first came out and safe to say, he’s probably in a good place right now.

The same friend also explained to me that it wasn’t as simple as just selling the NFT and capitalizing on the proceeds. In fact, just owning the NFT would give you so many perks that it would be more worth it to keep the token and reap the rewards instead.

That struck me. Imagine winning the lottery and then getting continuously rewarded for it. I know, I know, choosing the right project to mint and invest into isn’t the same as blindly gambling your money away. But still, most people would be hard-pressed to find a trustworthy project that can actually go “to the moon” given today’s precarious climate of rug pulls and scams.

Perhaps it might be better to just start off being rich instead – easier said than done – and then buy into an established NFT membership club, such as the ones we look at in today’s story.

If only it were that easy… sigh

Today we look at:

• Whether or not NFT-based private clubs are the next big thing.
• New funds for a South Korean fintech startup.
• Other newsy highlights such as FinAccel’s new board of directors appointee and a Singapore-based property platform’s potential US listing.

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Club can’t handle me

Image credit: Timmy Loen

Clubs sound really exclusive and cool, but for a socially anxious person like me, I’d probably feel like melting away into the background if I ever had the chance to attend one of these super atas meetups. That said, it’s easy to see why someone would want to be part of them – these memberships often come with great benefits and services. And that also holds true for the NFT-based private clubs that have been popping up around Asia recently.

• Hit the dance floor: Mandala Club is an NFT club owned by Singapore-based real estate and events firm Mandala Group. Members get various benefits such as early access to events as well as an exclusive Discord server. The club also holds talks, dance lessons, art tours, wellness sessions, and other types of events.

• Cough it up: Or for people like me, I’d probably just choke on the amount. Arc, an NFT club co-founded by popstar JJ Lin, has several membership tiers, with the most expensive requiring users to own a Stellar token – which can be purchased for around US$3,800. Meanwhile, the NFT-based membership that Mandala Club offers costs around US$11,000 with a monthly fee of about US$150.

Mo’ money, less problems

Be ready in a world of remote communications

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