Several different NFT collections have grown to become overwhelmingly valuable assets. CryptoPunks and Bored Apes are worth hundreds of thousands of dollars each. So, it was only a matter of time until an up-and-coming company saw these digital assets as a way to raise funds to build their business. 

That’s exactly what a New York City-based roaster by the name of Coffee Bros is doing. 

Coffee Bros. Announces the Launch of ETFs

As mentioned above, New York City-based coffee roaster Coffee Bros. plans to fund its brick-and-mortar launch through the launch of NFTs. The company was founded by brothers Dan and Nick Hunnewell, a team out of the Regalia Roasting Collective in Queens, New York. 

According to the announcement from the brothers, they’re launching a new NFT collection known as Crypto Baristas. The collection will feature several illustrated, coffee-pouring characters. As is the case with all NFT collections, Coffee Baristas will be available for purchase on the blockchain. This particular collection will be made available on the Rarible platform. 

Importantly, the Coffee Bros. said that the income generated from the NFTs will be put toward the roaster’s first real-life physical cafe project in New York at some point in the future. In a statement, Dan Hunnewell had the following to offer:

“The goal of Crypto Baristas is to build a community of like-minded individuals that appreciate art, caffeine, entrepreneurship and innovation. The project’s ambition is to open a physical space in NYC where art and innovation are at the forefront.”

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The Next Stage of NFT Utilization Is Upon Us

Crypto Baristas is sure to be an interesting collection, one we’re excited to dive into as it evolves. However, the story outlines a much bigger story than a Coffee company wanting to dive into the NFT space. 

You see, the United States is all about a free market. The ability to build a company doing what you love and tap into the public for the funding you need when you’re getting the company off of the ground. It’s the same concept that ultimately gave birth to the stock market. 

However, NFTs are opening doors that aren’t currently open to most. 

You see, if you want to become a publicly traded company, the legal fees and other fees associated with doing so could easily climb deep into the six figures. That’s the type of money that smaller startups simply can’t get their hands on. However, with NFTs, there’s a new option in terms of funding a startup. 

While Coffee Bros. may be a pioneer in the world of corporate fundraising via NFTs, I’m expecting that this type of activity will grow tremendously in popularity. After all, there are several benefits to the companies that take part, two of the most important being:

    • No Need for a Bunch of Money. Creating an NFT collection can be a relatively inexpensive process, unlike making sure everything’s above board in order for a company to raise money from the public.  
  • No Ownership Given. When an investor invests in a young startup, or any company for that matter, they ultimately purchase a piece of the company. However, with NFTs, consumers will purchase the digital art, helping Coffee Bros. and other companies raise funding without having to hand out equity in the process. 

Ultimately, NFTs add simplicity to business fundraising while reducing the cost of doing so. At the same time, these companies don’t have to give up a piece of what they’ve worked so hard to build, it’s a win/win. 

The Bottom Line

The bottom line here is simple. What Coffee Bros. is doing here is setting a trend. They’re showing that NFTs have the ability to help entrepreneurs make their dreams come true, and should they be successful in their fundraising endeavors, I’m expecting to see many more companies hopping on the bandwagon. 

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