AMA Recap with Privé

On the 20th of May, 2022 at 15:00 UTC, Decentralized Club had the honor of hosting Damon Nam and Luke Kim, Co-Founders from the Privé Project for an Ask-Me-Anything session on their Telegram page with a community of over 100,000 people. It was hosted by DC Admin, May.

The session was divided into three segments. Introductions were made in Segment 1, questions from the Twitter and website community were answered in Segment 2, and live questions from the community members in attendance were answered in Segment 3.

If you missed this event and would like to know what Privé is all about, you can find a recap of the interview here. Information here should be researched and should not be taken as investment or financial advice. Also note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.

Segment 1 — Introduction

[May]

Hello, नमस्ते, 大家好, สวัสดี, Selamat!

My name is May and I am excited to be hosting this session with Privé!

With us today are two guests from Privé!

A warm welcome to you both!

[Luke Kim]

Thanks — happy to be here 🙂

Let’s get started!

[May]

Welcome to the Decentralized Club!

[Damon Nam]

Good morning! It’s a pleasure to be here.

[May]

How’s your day going?

[Luke Kim]

Hello from Madrid!

It’s beautiful here.

Where are you based??

[Damon Nam]

It’s good! Hope everyone is having a great day and staying safe and healthy out there.

[May]

That’s awesome! It’s a sunny and beautiful day here in the tropics!

Can you both please introduce yourselves to our community and tell us your roles at Privé?

[Luke Kim]

I’m Luke (https://www.linkedin.com/m/in/lukekim153/) and I spent about seven years in blockchain/crypto. Started at a FinTech project with a Swiss wealth manager of $2.5 billion AUM. Became CMO of Vite Labs thereafter which had ~80 ppl at the time. To get mainstream adoption, worked with the Syracuse Mayor’s Office to invent the first public finance crypto models in the U.S. (smart contract micro-bonds and municipal utility tokens for liquid democracy). To break open public finance crypto, worked with the West African Monetary Zone in Nigeria (to pitch an African Euro, skipping physical mint for digital mint). After this, cofounded Berkeley Blockchain Xcelerator, headed marketing at a DEX that did a public token raise of over $26.5 million, and led marketing at Dtravel (think of it as DAO Airbnb, sister company of Travala). Besides the above, I’m with Truth Cartel as Partner + help project (e.g. MetaEngine, RaidGuild) as an investor and advisory board member.

You all might be interested in this:

https://xcelerator.berkeley.edu/

@damonnam is actually an alum of Berkeley Blockchain Xcelerator!

Besides the above, I like writing, so here’s a sample of my thoughts outside of champagne and NFTs 😉

https://cointelegraph.com/news/crypto-assets-for-liquid-democracy-the-future-of-public-finance

https://cointelegraph.com/news/airbnb-is-exploiting-its-users-but-decentralized-alternatives-are-possible

https://cointelegraph.com/news/the-future-of-crypto-trading-will-be-omni-chain

[Damon Nam]

I’m a business executive with a passion for technology. I’ve been working in the technology industry for over 23 years. I started my career off in the corporate world and spent 17 years at Microsoft in various business management roles. I’ve been a crypto enthusiast for the past 9 years. In 2015, I decided to leave Microsoft and have spent the past six years as a founder in the blockchain industry focused on decentralized finance. As a lover of art and technology, we decided to merge the two and create PRIVÈ… a community-owned DAO for luxury lifestyle goods and services.

Here’s my linkedin for reference:

https://www.linkedin.com/in/damonnam/

[May]

This is super impressive ! And you’re a fellow writer 🥳

Bookmarked your work for later! 😊

Mr. Nam, you have an excellent portfolio!

[Luke Kim]

https://t.me/decentralized_club/828932

[May]

Looking forward to learning from you both in this session!

Let’s get started, shall we?

[Luke Kim]

Let’s do it!

[Damon Nam]

Sounds great!

[May]

Can you tell us about Privé and the inspiration that got it started?

[Damon Nam]

Privé is a private membership community of entrepreneurs, investors, tastemakers, creators, and connoisseurs who receive a lifetime of benefits through Privé NFT ownership. Members receive Privé Réserve champagne, invitations to events such as parties and private tastings, and access to an ever-increasing list of VIP benefits. Membership and benefits are authenticated by Privé NFT ownership.

Consider it a digital private social club that fuses together components of the digital and physical world to bring its members unique lifestyle experiences.

We were inspired to create Privé as we wanted to disrupt private and corporate ownership in business. Traditional businesses generally exclude others outside of the business from contributing or benefiting from the business itself.

As lovers of art, blockchain, and champagne, our goal was to create a new brand that allowed its company to to be owned and operated solely by its members. Our community would therefore have input to decisions about the products and direction AS WELL as to earn proceeds from profit. Blockchain technology including NFTs allows us to facilitate this by authenticating membership and seamlessly distributing rewards back to the community.

And who doesn’t like champagne? 😉

We actually forecast more companies moving into this model in the future with Web3 and create other use-cases where companies will be operated and owned by a community.

For example, SyndicateDAO (one of our service providers) has great tools that help companies accomplish this.

People shouldn’t think of Privé as just another NFT collection. Our core vision and business model is very different from that.

Everyone should think of Privé as a community-owned and operated company that is creating an ecosystem of products and services, led by champagne… that is using blockchain technology to help manage its business.

NFTs help us authenticate our community members (owners) and smart contracts help us facilitate rewards from profit back to the NFT holders.

We are also using blockchain technology to create tools and solutions to help track the authenticity of our bottles and other companies manage their supply chain better. For those that aren’t aware, counterfeit alcohol is a $3B annual problem. We also want to create solutions using blockchain to help solve this.

Our ecosystem consists of products such as Champagne, merchandise, toys, apparel, and more. Our services include the solutions mentioned above. With the help of our community, we believe that we can bring to market a unique brand that generates significant revenue back to its members.

We would love to give you a preview of our NFTs, the champagne, and some merchandise!

[May]

https://t.me/decentralized_club/828953

[Luke Kim]

We love NFTs, art, fashion, champagne, and fun events. I don’t think I’ve ever met someone who didn’t ~ haha

It’s also cool to start a “world’s first” in any field.

Privé is the first ever NFT-gated society unified by a celebratory spirit and official champagne brand (approved by the champagne authorities in France), which gives members a complimentary bottle every year with access to exclusive benefits and merch. Check out the following for more details:

https://hauteliving.com/2022/05/prive-is-fusing-the-digital-and-physical-world-by-combining-nfts-and-champagne/713014/

Privé Reserve is our champagne, crafted in partnership with the same cellarmasters who supply the Michelin Awards. Not bad 🙂

https://frerejeanfreres.com/

[May]

Everything sounds luxurious 🤩

A great intro!

[Luke Kim]

https://t.me/decentralized_club/828954

[May]

What kind of airdrops will owners of Privé NFTs receive and what kind of events will Privé Société be hosting?

[Luke Kim]

Privé NFT holders can look forward to airdrops when Privé launches its own token economy around a community-owned spirits brand (the first in the world). We are starting with champagne but we have plans to move into all sorts of other spirits — which the community will vote on.

NFT holders can also expect airdrops of other coveted NFTs and well known tokens, as well as hot new tokens that launch, because we will make partnerships with projects. Through these partnerships, we will ensure that each Privé NFT grows in value over time. Every day, every year, imagine more and more partnerships and benefits being loaded into each NFT.

To start, we’re planning to host events at New York Fashion Week and Art Basel soon.

[Damon Nam]

We haven’t disclosed this yet, but we will be releasing a token later in the year (similar to APE coin and BAYC) that will represent the ownership share in the company. The more tokens you have, the more of the company you own, and the more rewards from profit you will receive. All NFT holders will be receiving the airdropped tokens that represent ownership.

We want to be more than just another crypto company. We believe that there are multiple audiences in crypto including some that desire luxury curated experiences with different lifestyle products. It’s why we are focused on the most celebratory product in the world and events that aren’t just focused on crypto.

[May]

https://t.me/decentralized_club/828964

[May]

Looking forward to the news on this one!

What does it mean when you say the value of the Privé NFTs will increase over time?

[Damon Nam]

People confuse value with price. With Privé, as a NFT holder, you will continue to receive membership benefits as you hold your NFT. For example, throughout the life of the membership, members will receive merchandise drops, additional invitations to private Privé and partner events, token airdrops, and more. A membership is perpetual and as we execute our roadmap, the demand and value of the membership increases.

[Luke Kim]

Check out this video for a quick and fun explanation 🙂

https://www.youtube.com/watch?v=rRWxWKC3vZs

Think of each NFT as a symbol of membership and ticket to cool experiences. By holding an NFT, you get the following, each of which increase in quantity and quality over time as we add more perks and partnerships:

- Token airdrops

- NFT airdrops

- Invitations to Privé events and partners’ events (e.g. NY Fashion Week, Art Basel)

- Invitations to exclusive openings and tastings

- Networking opportunities within the Privé community

- Merchandise and brand collaborations (think Privé x Supreme, Privé x Louis Vuitton, etc. — that’s the kind of thing we’re aiming for)

- Community governance rights and value sharing privileges, as the champagne brand (and other spirits in the future) grows in distribution

[May]

Pinned!

Are these events open to holders globally?

[Luke Kim]

Exactly! No matter where you are, you’re invited to all things we do and you have access to all the benefits we provide. You can even share in these fantastic lifestyle perks with friends, family, and loved ones.

[Damon Nam]

This is the beauty of NFTs and blockchain technology. It’s disrupting traditional memberships and makes transferring value extremely simple. Traditional memberships can’t be transferred and are not perpetual. They also often need to be renewed annually.

With blockchain technology, if you can’t attend one of our events, you can transfer it to your friend’s wallet and they can attend and take advantage of some of the experiences as well.

[May]

That’s good to know!

What developments should we expect from Privé in 2022?

[Damon Nam]

At a high level, expect the champagne to be released to the market before end of year and include delivery to its members. Also expects private tastings and events including our marquee event during Art Basel in December. Lastly, expect the deployment of our smart contracts and token for distribution to NFT holders that help manage corporate ownership and operation for the company.

[Luke Kim]

Check out this roadmap on our website!

https://www.prive.io/

[May]

Looking good!

How many NFTs will be available to mint?

[Luke Kim]

Mint details are visible here! Also, check out how cute our mascot is. On a scale of 1 to 10, this is a 10 for cuteness.

https://t.me/decentralized_club/828984

[Damon Nam]

I’m about to top that Luke… prepare for cuteness level 10+

[May]

An 11 for me, haha!

https://t.me/decentralized_club/828990

[Damon Nam]

These are just a few samples… Other NFTs include traits including apparel and accessories as well.

https://t.me/decentralized_club/828989

Check out some merch as well!

https://t.me/decentralized_club/828995

[May]

Beautiful!

Let’s now take some questions from our Twitter community!

Segment 2 — Twitter Questions

[May]

A good sign of solid projects is when they have real-life utility or products.

It must have taken quite a lot to get approval by the necessary authorities in France for your Champagne. Can you tell us some of the challenges you encountered and how long it took to get there?

Twitter Username: @TadesCorner

[Luke Kim]

@damonnam can speak to this. Champagne is a highly guarded product, upholding long standing tradition and craftsmanship. We have to get formal consent from the governing bodies in France, including CIVC, in order to launch. What’s even cooler is that we only produce a limited collection every year, available only to NFT holders, so it’s truly an exclusive experience to pop a bottle with your loved ones or colleagues.

https://champagnegallery.com.au/pages/the-role-of-the-c-i-v-c

[Damon Nam]

Great question! A lot of people are not aware of this, but champagne is highly coveted and regulated by a governing body in France. In order to even be called Champagne and use that on your label / brand, you must apply and be approved by the CIVC in France. We have been working with them for months to align and ensure that we could receive approval before even beginning our journey. This required a lot of time, back / forth conversations, and adjustments to our strategy and brand in order to meet their requirements.

[May]

👏🏼👏🏼👏🏼

Is PRIVÉ SOCIÉTÉ only limited to champagne drinks or does your company offer other beverages and cocktails aside from champagne drinks? Does PRIVÉ SOCIÉTÉ have side products?

Twitter Username: @0JeanWayne

[Luke Kim]

We’re currently focused on champagne, but in the future, we plan to take community feedback and expand our vision as the world’s first community-owned spirits brand.

https://privereserve.com/

[May]

Wow, awesome to hear you’ll be diversifying!

[Damon Nam]

Privé will be focused on champagne to begin with. We want to be laser focused on:

1. Creating a profitable and sustainable business around this to reward its members

2. Being the official champagne in the metaverse

Once we accomplish this, it is our intent to allow our community to dictate expansion plans that could include additional spirits such as cognac, vodka, etc.

The beauty in all of this is that it’s already in motion. We are working with partners to accomplish our mission. It would be too risky and expensive to start this from the ground up. For example, our champagne producer has been making award winning champagne for almost 30 years and has been selected as the champagne house to supply the Michelin awards for the past two years.

[May]

This is very interesting!

In Privé Société, how are the NFTs tiered? What are the tiers of membership allocated to your NFTs?

Twitter Username: @EscobarDeFi

[Damon Nam]

The first and primary collection is the Connoisseur tier. That includes 9999 primary memberships with benefits such as:

- Champagne

- Invitations to private events and tastings

- Complimentary merchandise

- Future ownership airdrop

- Access to the Privé private network

and more.

We will release another tier in the future that is called the Cellar Master collection. That will be limited to only 9 members who have additional benefits such as more champagne, a distillery and tasting tour in France, additional ownership, private events with the founders, and more.

[May]

Beautiful!

I read that club membership is limited to less than ten thousand global members with access to ownership of Privé Réserve champagne made in Avize, France. Is this membership limitation a totally fixed rule or would you consider accepting more users in the future?

Twitter Username: @iracundito

[Damon Nam]

The community dictates the decisions. So if the community and market demands more, we would certainly make it happen.

[May]

👏🏼👏🏼👏🏼

What are all the membership benefits of owning a Privé Société NFT? Are the branded merchandise a part of the benefits?

Twitter Username: @theyasflower

[Damon Nam]

Membership includes:

- Champagne

- Invitations to private events and tastings

- Complimentary merchandise

- Future ownership airdrop

- Access to the Privé private network

and more.

Yes, branded merchandise is part of the benefits but does require a shipping fee. Here’s examples of some of the merch that members would receive.

[Luke Kim]

Membership benefits are summarized in our website:

https://www.prive.io/

Branded merchandise is definitely included 🙂

[May]

Yaaaay!

Good to know!

Privé is such an impressive project!

[Damon Nam]

Thank you! We are really excited and hope that you all join as members!

[May]

My absolute favorite part of this project is its real-life products!

[Damon Nam]

Just wait until you taste the champagne as well!

[May]

Haha! Real soon I hope!

[May]

Well, we’re just in time to take some pressing questions from our live audience.

In this 3rd segment, I will open the group for some seconds for the live community to shoot you some pressing questions.

Please pick five original questions to answer.

Try to ignore generic, vague, and copy-paste questions 😊

AMA Rules for the community

https://t.me/DC_Court/22754

[Luke Kim]

Sounds good!

[May]

A minute for the community to get ready.

What’s your favorite sport?

[Luke Kim]

Muay Thai kickboxing!

Yours?

[May]

Surfing… the internet 😂

[Damon Nam]

Football!

[May]

Nice!

[May]

Dear community, as a measure to deter bots and reward hunters, please include the guests’ favorite sport (football and kickboxing) in your questions so the guest can tell original questions apart!

DO NOT TAG THE GUEST

The group will be unmuted shortly!

— -Chat was then opened for the live community to send in their questions — -

Segment 3 — Live Questions

[May]

Dear guests, as a measure to deter bots and reward hunters, your favorite sports have been included in questions to tell original ones apart.

Please prioritize such questions.

🥳

[Taiwo Bisayo]

Muay Thai kickboxing! Football!

How does PRIVE ensure the integrity of provenance and supply chain?

[Luke Kim]

Provenance and supply chain integrity are extremely important when we’re talking about consumer goods — things that you consume and put into your body — and luxury goods which must be worth every bit of value. We use blockchain technology in order to track, trace, and verify our goods and the memberships of each community member.

[J Mags]

Given that your project involves alcoholic beverages, do you allow minor and young individuals to own your NFTs and be able to attend your events? Do you have any age restrictions for your project?

football and kickboxing

[Damon Nam]

There are no age restrictions for owning an NFT; however, we would not be able to distribute the champagne to minors or jurisdictions that ban alcohol unfortunately. 🙁 @Jmagsss

[Talha]

Your project is looking interesting, can you give us the litepaper of your project?

Muay Thai kickboxing!

Football ⚽⚽⚽

[Luke Kim]

There’s no litepaper nor whitepaper for our project, but please join our Discord in order to ask any questions you wish and to meet fellow community members 🙂

https://discord.com/invite/2rYvYW7Vre

[May]

Keep the answers coming 🥳

[Topind]

1. What is the origin of this word PRIVÉ RÉSERVE, is it a French word?

2. How do you intend to use the crypto industry to push this platform forward?

Football!

Muay Thai kickboxing!

[Luke Kim]

“Reserve” signifies exclusive, artisanal champagne.

“Societe” signals community and community ownership of Privé.

The Web3 space, including crypto/blockchain enthusiasts, is only growing larger. We believe in merging digital and physical worlds together. In this way, we’ll leverage the momentum and excitement of Web3 for real world impact.

[Feray Furnense]

Muay Thai kickboxing!

Football

Are you collaborating with YouTube influencers to create more content?

[Damon Nam]

We are and look forward to more influencers talking about PRIVÉ soon! @Aylaevie

[May]

Aaaaaand it’s a wrap!

We had such an amazing time! So many great things about this project!

Can you please share your social message links for our community?

[Luke Kim]

- Linktree: https://linktr.ee/privesociete

- Discord: https://bit.ly/privedao and https://discord.gg/2rYvYW7Vre

- Facebook: https://facebook.com/privedao

- Instagram: https://www.instagram.com/privedao

- Twitter: https://twitter.com/privesociete

- Github: https://github.com/privedao

- LinkedIn: https://www.linkedin.com/company/privesociete

- YouTube: https://youtube.com/c/privesociete

- Opensea: https://opensea.io/collection/privesociete

Thank you so much!

[May]

Any closing remarks for our community?

[Luke Kim]

We’re active on Discord so come speak with us there!

We look forward to seeing you all at fantastic events to come.

Join us for the first-ever NFT-gated champagne experience and social club in the world.

https://discord.gg/2rYvYW7Vre

[May]

Super!

[Damon Nam]

Thank you all. It’s been a pleasure and we hope that you all join as members in the near future. Please join our Discord to get the lastest news and stay informed about the upcoming release!

bit.ly/privedao

[May]

Thank you so much for your time with us today!

Brilliant answers from intelligent guests from an impressive project!

Our warm regards to the rest of the Privé team at the HQ working to make this project a success! 🥳

You are a super project! 🥳

Until next time, have a great day!

The AMA with Privé is now over

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