Accepting NFTs here: bringing NFTs to real life in the streets of Lisbon
Mintbase partnered with some of the coolest restaurants, bars and stores in Lisbon to take NFTs out of the digital world and into the real world. Fancy a bottle of wine and a cheese board with a view? We got you. Lose your head over good dumplings? Sorted. Skater for life? We have something for you too. From Anjos to Príncipe Real, it is now possible to redeem NFTs and unlock physical goodies all over the city.
NFTs are a major innovation. They provide verifiable digital ownership and are scarce, interoperable and cryptographically secure. Although the first NFTs were first created in 2014, the interest in this new technology boomed over the past two years. Mostly used for visual art, we’ve seen tremendous hype grow around the space in 2020 and spread to 2021, with many works being sold in the thousands and even millions of dollars.
While we love to see artists using NFT technology (and thriving!), we know the full potential of NFTs is not being fully explored yet.
That’s why we’ve decided to put the technology to the test and bring NFTs into the real world. What does that mean? Mintbase took to the streets of Lisbon and onboarded a bunch of restaurants, bars and shops that are now accepting NFTs in exchange for physical items.
To celebrate NEARCon and LisCon (and prove that it is possible to apply the technology we built to day-to-day use cases), we gave out a bunch of NFTs that can be redeemed for food, drinks and other goodies. We onboarded a dozen businesses in under a week, every single one with their own NEAR wallet and a Mintbase account, every single one being paid on-chain by our revenue and royalties features.
To find them, people just needed to follow the address on their NFT or check our map for a full list of the spots.
Crackids, for example, is a multi-brand store for the best graffiti products. There, you can redeem a spray can and grab a cocktail at their Ordinário bar, whether indoor or on the terrace, with the Tagus as a backdrop.
From there, walk 5 minutes up to The Couch Sports Bar. There are tens of screens where you can watch almost every sport in the world and plenty of sports geeks. But mostly, there is good food and beer to go with it. One NFT will unlock two pints and a portion of croquettes to share.
At Mata, a plant shop and a bar, an NFT can be exchanged for a vase and a cocktail. While you are there, chat with the team and ask them about their cultural events and DJ nights.
Francisco Sá, one of the owners, was crypto-curious and had invested in a couple of projects in the past, but the idea of utility NFTs was new to him. The first step? Pitching our vision. The possibilities of this technology are endless: imagine a decentralised world, free of middlemen, where everyone can create their own business model and have full control over the value they produce.
Then, creating a NEAR wallet. Because NEAR names are so simple to set up, this part of the process is easy-peasy. No more 64 character hashes that are impossible to remember.
Last but not least, minting — and this is just three clicks away. Choose a photo of the item, write a description, select split royalties and revenue and boom, it’s done.
Francisco has multiple partners in his business, so our split revenue feature is particularly useful for him. “It was a completely different experience — and a very enriching one. NFTs are here to stay, even in the restaurant business”, he says.
There are many use cases for the technology. For busy nights, for example, Francisco can sell NFT tickets in advance — and with no greedy commission fees — or membership cards that give access to special benefits.
For Lui Appratto, from CyberCafé Skateshop, the decision was easy enough. Minting ten of their “Free Jazz” skateboards — all of them paid for in NEAR — was hassle-free. The redeeming process, idem. NFT holders scan a QR code that takes them to the redeemer page, click “burn” and it’s sorted. The shop can check what has been redeemed in real-time as well. See our developer Luis get his, here.
Although most of the business owners were new to the blockchain space — and many had never heard of NFTs before — the feedback was incredibly positive. More than a fun way to show how people can use Mintbase’s technology, we see this as an opportunity to involve the wider local community and educate them on the infinite possibilities of utility NFTs. If you are in Lisbon but didn’t make it to one at the conferences, don’t fret. Keep an eye on our Twitter and Instagram pages — you might get lucky in one of our giveaways this month!
