Updated: Mar 17, 2021
Torre Del Viejo enters the world of crypto currencies with its own NFT.
TDV does it again
Here at Torre del Viejo, we are true to our values of innovation and creating new opportunities for local brands and small businesses in Puerto Rico. We are one of the first brands to bring NFTs to the island, and we are proud to say that we are the first local brand to incorporate it into our essence.
What are NFTs?
First of all, for all our patrons that may have not heard of NFTs before reading this, allow us to introduce you to a whole new modern world. NFTs (Non-Fungible Token) is best defined as a unique piece of digital content, described as a digital passport that allows information and data to be updated, but not destroyed. The popularity of cryptocurrency and the advances in cryptocurrency has permitted these tokens to grow interest. Most NFTs are commonly part of the Ethereum blockchain. It can be anything digital: drawings, memes, podcast, music. What makes it so popular is the ability and the sense of ownership they give and the uniqueness that makes it so desirable.
What makes it so interesting?
Now that we understand better what they are, it is time to learn what they can do or what they represent. It is the new creators’ economy. NFTs allow creators, like TDV to sell their work by giving artists a platform to create and share their content that there otherwise might not be much of a market for. The digital environment will have it become a unique special item where the value will increase, as well as its rarity since we won’t repeat designs, and it will be a brand item. Utilizing this new tool/technology, Torre del Viejo will not only be entering a new way of interacting with our Loyal Patrons but assisting others by implementing new ways of use with our brand and loyalists.
Torre Del Viejo + NFT’s
How will TDV implement NFT’s.
We have a wide and ambitious range of ideas on how to implement this new tech into our brand. Firstly, we have just made our first prototype to better educate ourselves before heading deeper into this new realm. Second, the next NFT has been made with functionality in mind, a Loyal Patron buys it from our store and they are then entitled to a product upon completion of the transaction. Thirdly, we seek to implement it into our Hierarchical Loyalty Patron System, by taking the place of Baron. Baron patrons would be bestowed that NFT upon reaching a threshold and with it they would be granted certain perks listed on the item itself. Therefore, it would not only become a redeemable token, but also an I.D. for Loyal Patrons, a status symbol in our tight-knit community.
These are some of the current ideas we are excited to implement as of this time with the use of such a fascinating piece of technology. The future is filled with surprises, and Torre Del Viejo will adjust accordingly in order to adopt and bring the best experience to our customers.
As a buyer, you are acquiring a different format of art one that allows virtually anyone to be a collector of art. It gives you basic usage rights to brag with a blockchain entry. But above all and more importantly, you are supporting an artist and interacting with the brand in a unique and personal way. It is a win-win situation for all.