The H. Wood Group is not content to merely throw the best parties and run the hottest clubs in the world; they also want to enforce the law in the Metaverse. A collaboration between H. Wood Group’s John Terzian and Brian Toll and Alex Shultz, creator of Looks Rare Studio and Sounds Rare Studio, has conceived of Bootsy Bellows, the first nightclub in the Metaverse, and it may be the most exclusive location there.
Only members of the H. Wood Group NFT club would have access to the virtual club. Toll says they learned that “other nightclubs were taking crypto,” which meant that customers could reserve tables by paying in bitcoin. We found the idea fascinating. The problem is that the value fluctuates frequently, so that wouldn’t work. We are currently promoting Bitcoin Latinum, a cryptocurrency that has just been released.
To me, NFTs represent the next great thing in the financial industry. We first heard of plans to include Bootsy in the Metaverse from Alex Shultz. Let’s combine virtual and real-world channels to peddle Bootsy NFTs. People are interested in the NFT for more than just its novelty value; they also want to flaunt their possession of it.
Citizens will utilize Bootsy Bellows NFTs (emblazoned with the club’s kitty cat logo) as their door key to the after-hours bash, both in the real world and online.
According to Shultz, “we’re constructing the exclusive access pass for the Bootsy Bellows NFT,” and it will be ready in early 2022. Constructing the Metaverse disco would be like programming a video game. We’re committed to raising the necessary funds and constructing the platform on the Solana blockchain, where the transaction fees and club membership tickets won’t set you back hundreds of dollars. Gas fees are what you pay to cover the processing time and electricity used to complete an NFT trade.
It’s nothing new for H. Wood to spread its name beyond its original Sunset Strip site. Nobu Malibu, Coachella, Cannes, Art Basel, the Formula One Grands Prix in Monaco and Austin, Paris Fashion Week, and the Super Bowl are just a few of the places they’ve hosted pop-up events.
There is a rising trend in the event space of the NFT. Bored Ape Yacht Club (BAYC) is a non-fungible (NFT) collection that operates similarly to the Bootsy Bellows model in that purchasers receive both virtual and physical entry to the club’s online and offline communities with the purchase of an avatar (such as at a recent BAYC warehouse party in Brooklyn held during an NFT conference). Famous people like Post Malone, Jimmy Fallon, Stephanie Curry, and Steve Aoki have all signed up to party at BAYC. In fact, Adidas invested, and UMG assembled an all-ape Metaverse band.
DJ and record producer Shultz became “full-on Meta” in the year 2020. “I’ve been trying to improve NFTs,” he says. I designed a system wherein NFTs can be redeemed for a unique adventure. First up was Lil Yachty’s YachtyCoin on Nifty Gateway, where fans could exchange NFTs for one-on-one video chats with the rapper. We’re interested in holding both physical and digital events, with the NFT serving as the ticket to the latter.
The staff at Bootsy Bellows, a nightclub co-owned by actor David Arquette, put the idea to the test on Halloween by hosting a special event where patrons had to utilize NFTs to get entry. The NFT community showed a lot of enthusiasm for the practical applications of the coins there. Says Shultz, “At the moment, 99.9 percent of all NFTs are simply JPEGs.”
Shultz claims that they are now creating several works of art, including digital tickets inspired by those used at the Bootsy Bellows club. All of this, along with the holder-only perks, will be included in the first version of their metaverse.
He claims that the cryptocurrency market is fully independent of its ups and downs since crypto assets serve a useful purpose.
Sounds Rare is his other endeavor, and it too opens up doors to music publishing and rights.
By establishing Sounds Rare, Shultz will be able to establish a decentralized record label and music publishing organization. Each NFT purchased from Sounds Rare comes with the publication rights to a previously unreleased tune.
You learn everything from songwriting through signing an artist to recording and distribution, as stated by Shultz. “We are making it possible for a listener and an artist to jointly benefit from the popularity of a song for the first time.”
His next statement is, “I’m focusing on how you introduce NFTs to individuals who have either never heard of them or have heard of them but don’t know how to engage with them.” — and especially people that have been left out of the economic equation,” saying that the more affordable Solana blockchain will help him accomplish this goal. Our perspective is not that of investors. In our minds, it’s the same as buying a real ticket to an event.