Invest and Own Rare Whiskey with Whiskees NFTs!

Hello everyone, this is James Pelton. Happy Saturday to you all. Again, one of my goals for my channel though is to not have you, is to have people stop looking forward to the weekend. I wanna give you financial freedom so that every day is a Saturday for you. That's one of the things I wanna accomplish. So again, always looking for passive income opportunities. We're gonna be talking about whiskeys, NFTs today is what we're gonna be talking about. And we'll talk about this CJ as we get going, but I actually am an investor in a whiskey company. So we'll talk about that as we get going and why whiskey, all those things. What I need from you in the audience as we're kind of waiting for people to hop on is I need you to hit the like button. Again, that's what YouTube uses to decide, hey, is this good content? Should we show a lot of people? Is the like button. So please hit the like button, totally free. And if you have questions as we're going, please bring those up and we'll get to those as we can. So CJ, if you could start us out with just a quick introduction, where you came from and how you ended up kind of where we're at, and then we'll jump into the project after that. Yeah, sounds good. Thanks James and everybody for tuning in. So yeah, the name is CJ. I originally got involved in crypto back in, oh man, I think I bought my first like Bitcoin or something like December, 2017, right? So it was the height of the first, I guess, I don't know, first, but like the, you know, not this most recent bull market, but the one before. But anyways, so I bought some Bitcoin then, kind of explored a lot of things, really got hooked on Cardano. I thought I was really smart. I dollar cost averaged down from like January all the way through to like April in 2019, right? And the price just kept taking, it just kept going down. I'm like, man, what did I do? But I took the time in between then to kind of learn a lot about the different ecosystems. I stuck with Cardano. I really liked the ethos and the decentralization, a lot of things they were bringing forward. So I stuck with that and kind of stayed in the game and took the time to learn a lot about the blockchain and just some different things and came up with this idea for Whiskey's NFTs. And now we're kind of ready to launch. So yeah, excited to talk about it. Okay, very cool. Yeah, and we got some, BPZ says you had me at Whiskey. So I think that's a big draw if you like Whiskey. I personally am not a Whiskey drinker. I just have never developed a taste for it. But let's talk about, I'll bring the website up here. First off, if you could kind of just give us an elevator pitch of how does this work? It's an NFT. What exactly is it going into? And just give us some details about what you're doing here. Yeah, so the main concept behind this essentially is our Whiskey's NFTs, they represent a 50% unique digital art and then 50% from the mint price will go into Whiskey cask investments and that's Scotch, so Scottish and Irish Whiskey. And when I say the cask, that's not just an unfilled barrel. It's actually the barrel that's filled. The ones that we'll usually be acquiring will be at year zero. So as Whiskey ages, it already accrues in value. So essentially we're getting them at year zero when they're filled at the distillery. But yeah, that's kind of how it is. So you kind of get, you know, you get an awesome piece of art and then also the, you know, half Whiskey cask investment as well. Okay, very good. Yeah, so you kind of say it's half put into the artwork and half put into the Whiskey. Do you want to kind of explain how that works? Yeah, sure. So yeah, so the 50% artwork, it kind of, you know, pays. So I partnered with an artist who's done a 10,000K drop on Cardano. He did the Aquafarmers for Liquid, which is a pretty decent size token project, DeFi project on Cardano. So he did that one. And so the 50%, that kind of goes to us as the team. There was a lot of setup costs, right? Things that we had to do legally. And also our project, we're scheduled to run out for 10 years. So it kind of helps to provide, you know, the runway that we need to make sure we can accomplish this. And then the 50% of the mint that goes into the casks is kind of more self-explanatory, right? We're going to basically have casks for a holding period of three, five, and 10 years. And we plan to sell a third of the cask at each of those time points. So the three-year time point, the five-year, and then the 10-year time point. But we're going to have it kind of like community vote style. So essentially by owning the NFT, you'll be able to vote and say like, hey, I don't want to sell it now, right? Or like, I want to keep it longer for another year before we sell. Or if you want to potentially bottle it, we're looking into that as well. So there's a lot of cool options with whiskey. It usually appreciates, you know, this is not a guarantee. I cannot say that it's a guarantee, but it usually appreciates about 15 to 20% per year. So it's nothing like blow your socks off, but it's definitely a cool way to get some diversification, I would say, compared to some other types of things you'd be looking to get. Okay, no, very good. No, I love that. And just to clarify, again, I'm a big spreadsheet guy. So I'm always trying to, so is the 20% they estimate on the 50% or is that, are you estimating the 20% on the full price of the NFT? Just to clarify. That's on the whiskey percent. That's right. Okay. Okay, gotcha. Just want to clarify that. You know, get everybody's expectations in the same place. So do you want to talk about whiskey just as an investment vehicle? Because I'm actually, I have some things I want to add too, but I've actually, I've been investing in whiskey on my own for the last probably three or four years. But do you just want to talk about why is this an attractive investment class and what made you go in this direction? Sure, yeah. So yeah, as you know, you know, when whiskey gets filled at the distillery, I think a lot of times the distilleries, they need a way to kind of finance their operation. So a lot of ones that are owned by big conglomerates, they do the whole thing and they fill, they keep, they age, then they bottle. But there's a lot that can't afford to do that. And so I think there's some, you know, some distilleries that are looking to kind of get paid now versus later. And obviously when whiskey is first made, it's actually a clear spirit, right? It's not that dark brown hue that you see, right? That's like that really nice coloring. That happens as it ages. So essentially when it gets filled, right, it's kind of like a, I don't know, I've never tasted it right out of the, like right out of the gate right there, but it's probably a little like moonshiny, right? Something. And so essentially as it ages, the wood, you know, there's the heat and the cold, it goes with into the wood and then out of the wood in the barrel and that mellows out the flavor, right? Some of the harshness, it adds some flavor as well to it. And just kind of, as it goes, it kind of, it accrues, it accrues value because it starts to taste better, right? So as, you know, as each year goes by, the whiskey kind of gets a, you know, a nice color tinge added to it. And then, yeah, like I said, it accrues in value. I think one that people know really well is Scotch, right? Scotch is a really popular whiskey that, you know, that people age it for, I don't know, I think 60 years in some crazy cases, you know, like obviously those are super expensive types of whiskey, but yeah, it's just something not many people know about too. I feel like, you know, like it's just, I don't know, it's just very unique. I feel like, you know, there's other assets that don't necessarily follow the same pattern and whiskey is just kind of unique from that standpoint. You know, it's been around for God knows how long, right? Since at least like 1500s-ish time point, you know, in Ireland and Scotland, so it's just, you know, I don't know, I just think it's a really unique opportunity for people and it's, and like I said, it's not correlated, right, to traditional markets. So in beer markets, it does well. In bowl markets, it does well, right? So really, it's just a really cool way to get some, like I said before, diversification, I think. Yep, nope, totally agree. That's what I was gonna say, what you just touched on was what I love about, there's some assets that are decoupled from the rest of the markets where when the rest of the markets are going down, spirit sales actually go up and sometimes it's even faster during the downtrend. So if you're looking for your portfolio to be really diversified, you wanna find some non-corollary assets and whiskey, I think, is definitely one of those and I love what you guys do is you make it accessible because a lot of times, if you wanna get into something like this, you know, you need to be an accredited investor or you need to be bringing 50K or something like that. Do you wanna talk about maybe the minimums and how much the NFTs are and give some of those details? Yeah, sure, sure. Yeah, and I like what you mentioned, like you said about the, you know, like the minimums get involved generally. It's gonna, I mean, I think when I did a lot of research, it was like minimum of like 25,000 US dollars, right, to get involved, which is just, you know, it's a lot. That's a lot to commit, you know, to something that maybe you don't know as well, right, or haven't done a lot of research. So I think we're kind of here to like bridge that gap and do a lot of, you know, we've done a lot of homework on our side to know kind of what we're getting to match the time points and strategies. So, but yeah, the NFTs in general, so we're planning to have 10,000 NFTs total. The design itself is kind of more of a really realistic design. So we've done, it'll be about 36 cities from across the world, which we did on purpose, right? We want people from all backgrounds to see themselves enjoying whiskey. It's shaped like a whiskey label, really. So it has a lot of cool elements in there. And just, I can't say enough about Tim, our designer, how awesome he's done with everything. So, but we will have six rarity tiers ranging from $1,000 on the top rarity tier all the way to just $50 on the bottom. And again, 50% of anything that you purchase, no matter what rarity tier goes into the whiskey cast. So there's no difference there. It's just kind of, you kind of control just how much you want to buy, right, own type of thing. And then each rarity tier itself will have different rarity kind of built into the tier. So we're taking kind of that unique approach just based on people, you know, what they want to own, how much they want to own. And then we're doing a lot of cool things within the NFT rarity tiers as well, so. All right, very good. Do you want to talk a little bit about the whitelist and when the mint's going to be and just what people need to know again, if they're kind of wanting to get involved? Yeah, so right now we have done some whitelist giveaways, like our first hundred Discord users, we gave away a whitelist. We had a huge holiday giveaway of like, it's like 2,500 bucks or something that we gave away at NFT every day. Kept me busy for a long time. But yeah, so we gave away a whitelist, but actually today, the first 50 people that join our Discord, we're going to give away a whitelist as well. So we're trying to make it, you know, a good user base across the board of people, you know, that can get access to it. That's one of our big things is decentralization, right? To make sure that we have a lot of different people that want to own whiskey to be involved. Our mint date, you know, we're really focused on building the community. I'd say we're still smaller. We do want to mint within Q1 of 2023. It might be, so it might be towards the end of March, is kind of what we're planning. But we also, you know, we don't want to mint too soon. We want to make sure we have a good following just because actually the more people that we have involved, right, the more sales that we get from the NFTs, the steeper the discount we'll actually get on the cask. So there it's volume-based discount. So I think that's really, really cool and unique and it benefits everyone, right? You get a much better access price to the whiskey casks in that regard. Okay, so I posted a link to the Discord. So there is going to be some giveaways for whitelist spots. So if you're interested in all in this or just want to learn more, definitely hop in to the Discord and there'll be more info there. And yeah, we don't have the dates quite yet, but it should be soon. We're looking to mint in January. So if that were to happen, it would be soon, but we're changing that to Q1, right? Yes, I should have updated that. That's right. Yes, it's Q1. Q1, okay. No, perfect. Let's see. No, this is a good question. So talking about the mint, 10,000 is a lot to mint these days with these market conditions, although we're up on the rise a little bit. But what happens if you don't sell out? Worst case, is there a backup plan? Do you need to sell out to kind of move forward? Yeah, no. I think, you know, we've been talking internally, right? We do really want to do a mint within Q1. So even if we had to parse that out to like 2,500, which is about 25% of the collection, you know, we could do something like that as well. I think just basically whatever we don't mint will not be put into circulation essentially, right? Because our NFT actually has value that's back to it. So that's just kind of what we, you know, we would just have a smaller collection size. You know, I'm hoping that's not the case and we might have multiple dates, maybe multiple mint dates in that case, but we're going to kind of see how it goes from there. So it's a good question, Jochen. Okay. And are there advantages to whiskey drinkers? Do you need to be a whiskey drinker to be part of this? Are you going to be guys be doing tastings or is that going to be up to the community a little bit? Yeah, there is some. So we know that, you know, three years, five years, 10 years, like that's a long time for crypto. You know, I think most investment stuff, right? You have to have some patience with it as well. But we are trying to build in some other utility as well into the, into it. So some things that we are kind of planning to do as well is, you know, we're going to have some, maybe some partnerships with other NFT staking things. So on Cardano, there's other like Mutant Labs or some of these other ones. You can actually stake your NFT with them and it's non-custodial. It actually stays in your wallet, but you can earn their tokens. So we're going to have that benefit for our holders, right? Where they'll be able to earn some tokens for some other projects. We're going to do, we're in the talks right now. Every year, Cardano was starting to do what they call CNFT Con in Las Vegas. And so this year, September, end of September, early October, we're going to send our team out there and we're going to have like, I think we're going to try to do like a meetup, like a little get together. So we'll have some different whiskeys and stuff for people to try if you're able to make it. And then I think, you know, this is still depends on how much we mint, but we're going to try to get some more mature casks that we can potentially get bottles from and try to find ways to share that with the community as well. So there's a lot of distribution on whiskey. It's a big pain right now. I mean, you know, within the US, alcohol distribution varies by county in some cases, not even just by state. So there are some nuances to that, but I think our partner that we have will help us kind of navigate some of that as well. So we're also do some AMAs and some, I think we'll bring on some other like whiskey professionals to like learn about it, right? Different sommeliers and stuff like that. So I think there's a lot of different opportunities there to kind of learn about whiskey as these casks age essentially. Yeah, no, I had recently I had on bourbon and blockchain. I'm not sure if you're familiar with that project, but maybe some synergy there, you know, bourbon type of whiskey. And yeah, it's, I don't really know much about alcohol, but honestly, some of my investments have made me look more into it. Yeah, like in how you make whiskey and things like that. So that's one thing I'll say too, if you're wanting to learn about something, investing in it is a good way to learn. So if you just are curious about, hey, how is whiskey made? What's the difference between whiskey and bourbon and things like that? Definitely I can look into that. Let's see here. Like, let's talk about this. This is a great question. So I rarely have anything from Cardano on the channel. It's just the way that it works. I'm not big in the Cardano community. Why did you choose Cardano? And can you maybe explain to people if you're used to AVAX, Ethereum, how do you get stuff over to Cardano so that you're able to mint? Yeah, no, that's a great question. I know there's a lot of liquidity on the other chains, right, like Ethereum for sure, right? Some of these other L2s, Polygon, Arbitrum. I've used other ones too, so not only just Cardano. I'll say I don't know AVAX very well, so that one's not very familiar to me. But yeah, I think the choice kind of centered around, you know, I think you can just do a lot of unique things on Cardano with the non-custodial staking, I think is a really cool thing on there. I just think that the vision that IOHK and Charles has for the decentralization piece of it, there's like 3,200 node operators across the network, you know, that's a pretty decentralized system compared to some other chains as well. So I don't know, and the community is insane. If you go on Twitter and you do a poll and you put Cardano in there, I'm telling you, nine times out of 10, you're winning that poll, it's kind of crazy. So there's just, you know, I think it gets a lot of, I don't know why, but people hate it for some reason, and maybe that's part of the underdog, maybe I love that too. But I don't understand the hate. I mean, maybe you don't like Charles, that's fine, whatever. But, you know, I guess in general, right, there's just some really good people, really smart people working on it, just like all these chains. I would say, you know, if there was a way to make this chain agnostic, I would totally do it, you know, like that would be so cool to do. But, you know, the team that I have, our developer works for our Cardano company, you know, the artist, he did a Cardano drop, so I just feel like that was kind of a natural fit for us as well. Okay, no, that makes sense. And then what's the best way to bridge over to Cardano if you're, again, not used to Cardano, don't have anything on there? Yeah, no, good question. Yeah, so that piece of it, it's a little challenging, I guess, you know, like you usually gotta use a centralized exchange, so I would go to like Finance or Coinbase, just swap out USDC, Ethereum, whatever. There is a way that's a little more complicated, there is a layer two sidechain called Milkomeda that you can access through Metamask, and you can actually bridge funds back straight from like Ethereum to Cardano. But I did put, I know that a lot of your users are not Cardano people, so I did actually put like a how-to Cardano within our Discord channel. So I would say check that out, it's an easy way for people to kind of understand what you need. It's not the same wallet, right, it does not use Metamask, so do not think that you can use Metamask to get on. You do have to use a different wallet as well, so. Very cool, and actually, in some ways I'm happy about that, because again, it's an opportunity for my audience to learn, like they, if you've not used Cardano, it's a very different ecosystem than what we're used to, like you said, with the Metamask familiar chains, so. Thank you for putting that in the Discord, I think that, yeah, if you're having problems, wanna know how to, the easiest way, like you said, is just go on KuCoin or Binance or wherever, you buy Cardano there, and then you can send it over and do whatever you want, so. Yeah. I know exchanges are hard to trust these days, unfortunately, right, that's a fact of the matter, but. Yes, well, you buy it and then get it off immediately. Yeah, do it quick, yes. Right, do it quick, they surely, they can't, you know, go illiquid in just the 10 minutes that you get your money on there, so. Can you talk a little bit more what you're planning to do, you kinda talked about the three-year aging, can you kinda talk more just about the long-term goals, what's gonna happen after that three years, where do you see this going in five or 10 years, do you expect this to be a long, long, long-term thing, or what do you kinda see happening? Yeah, no, I think in general, you know, we are looking to use this first NFT mint as kind of, I'll call it like series one, right, so it definitely has a finite date, you know, right, three, five, 10 years, within the barrels are gone, right, but I think what, you know, we put a lot of that 50%, some people are like, that's kinda steep, right, well, it's, like I said, it pays for our starter costs, but then it also is gonna fund, it's gonna fund a lot of our second drops if there's enough, you know, demand, essentially, so if people want to, you know, we're focused on Scotch and Irish whiskey, so if you really wanna get involved with bourbon, like you said, right, or Tennessee whiskey, or even Japanese whiskey in some cases, I think India, right, has some stuff too, which is kinda interesting. You know, if there's these other areas of whiskey that we wanna kinda move into or get involved with, I think that kinda helps having that, but I think we wanna stress that owning the Series 1, you know, is important, so owning the NFT from the first drop will always be kind of our priority, so we wanna build some, you know, utility into that as well, so when I say the other drops, right, we would maybe break it down to, if you held the highest tier, you know, you would pay X percent fee, and if you held the lowest tier, you'd pay X percent fee, that's a little increased, so it's just a way for us, I think, to reward people that, you know, that took a chance on us too right away, versus, you know, something else. Okay, very good. Okay, so Floki has a question. Well, first off, I wanna show Goofy at Gophers Mining Club. I think we're gonna have some trunk Gophers when we pick up some whiskeys for Treasury, so apparently Goofy Gophers are gonna be using some of their Treasury to buy some, so that's cool to kinda see that. Already have institutional investors. Oh, there you go. Floki would like to know, yeah, Goofy Gophers, they're awesome. I love Goofy Gophers. Floki says, I love the project, but I think you would also know we won't sell out fast, potentially. Whiskey caskets will only be purchased after the NFTs are sold. What happens with the mint funds generated until sold out? So I think, so that's a good question. I think we would probably ask the community at what point, right, if we don't sell out, like when do we wanna purchase the whiskey? Like I said, volume has a lot to do with it, right? The higher the volume, the bigger discounts we will get, and it's a rolling scale. Based on the partner that we're working with. So I think in general, we'll just ask and see. Like if people are like, hey, I want them now, and that's the majority of our holders, then we'll do that then. Obviously, I hope for a sellout, right? So that's our goal. But yeah, if that doesn't happen, then yeah, we would just have a decision point to make, and then we would do it then too. I'll say this too. Cardano does not have a great stable point. Next week, they're releasing one, so everyone's super excited. But I would do, I would probably switch it over to another chain to put it into a stable coin, because I'm just not taking a risk in this market of things going south, right? Like I've seen too many projects, a spare market, who they've busted up their treasury by not being smart with risk management. So we will 100%, right after the sale, convert to a stable coin and market there until we get the cast, essentially. Okay, nope, very good. Yeah, no, I definitely can see that. So there'd be two directions you could go, is you could say, hey, we're investing in whiskey, but we're also going to invest in crypto along with that. Like we're gonna hold Cardano and invest in that, and that'd be one way to go about it. So just for people watching, just know that this is pretty much solely in the whiskey. The rest is gonna be kind of held in stable coins. But this is meant to get you exposure to whiskey in your portfolio, not really crypto. They're kind of, you're kind of just using crypto as a means to get to whiskey, so. Yeah, and I'll say one other thing, and actually you bring up a good point, is Cardano's really easy to do distributions on due to the EUTXL model. So you can actually send a lot of transactions within one batch, which is really cool. So it makes it super easy to, as we can verify within our discord who holds what NFTs, and then actually it makes it easy to send the ADA when we do sell the casts right back to people, so. Okay, no, very good. Now, yeah, and that's a good learning experience for people too, is kind of figure out, how does Cardano work differently than Ethereum and things like that, so love that. Let's see, I love too what you said. It seems like you guys are gonna just be very community-driven. You're not gonna be making dictatorship decisions, like, no, we're gonna be doing this, but leave the community up to it. How long after Mint will you decide what you will do? Or is that kind of up to the community as well? Yeah, I would say it's up to community. But, Jochen, I know you're a good question guy. I've had some in our discord too. I would say no longer than a month, right? I wanna make sure we meet the promises, right, of what we intended to do. So that would be what I would say, no longer than a month for sure. Okay, so not in a rush, but not wanting to go slowly either, so. Yeah. Yep, I like it. Goofy Gophers wants to know, can you bring a cast to Cardano NFT Con? Are you gonna be attending that? Yes, we will. We were there last year too. It was so much fun. I wish I met the Goofy Gophers team then. It was cool. We've connected since then and stuff. But I don't know. I don't think we can. I think, you know, to ship it from Ireland or Scotland would be kind of rough. But I will bring some whiskey. I'll get some good stuff for CNF. Okay, very good. And then you mentioned this earlier, but this is more a whiskey question. But is whiskey from certain countries a better investment? And can you talk about how you're gonna be deciding, how easy is it to decide which whiskey to invest in? Like, is this something any Joe Schmo could do? Or do you just wanna talk about that process a little bit? Yeah, I think, you know, I would say that, you know, the first whiskey producing countries were, I don't know, there's a lot of debate. I think it's Ireland or Scotland. Actually, Ireland, I recently went to Dublin not too long ago, was actually the number one in demand whiskey in the world for a really long time. And then the two world wars hit, right, depression. Actually, when the US with the prohibition, when they started cutting it, meaning they watered it down, so it didn't taste as good. And when it said Irish whiskey on the barrel, it got a really bad rap. And that kind of led to Scotch whiskey getting a lot more notoriety, which is really interesting. So I think what I would say to that is Irish whiskey is on a resurgence. And so that's why we would front load our casts with Irish whiskey, because it's supposed to grow through predictions pretty good in the short term. And then long term, I think the Scotch has a lot of value, right? Like they're just a 10 year Scotch, right? It's just something everybody knows. So I would say that Irish and Scotch whiskey are really, most of those distilleries are really established too, right? They've been around for a really long time. So they have a lot of notoriety. So I would say those are the two better investments whiskey wise. However, I'll probably preface that with saying, I think bourbon or Tennessee whiskey, there's a lot of Buffalo Trace, a lot of those distilleries and stuff are really doing great things too. So there's a lot of variety coming from the United States or even Canada too as well. So I prefer Irish and Scotch whiskey. So I think that's kind of where we're starting from. I know that the best for many of them. And I would say you probably get the best value out of your whiskey investment from those types of distilleries in my opinion. Okay. No, I love that. I love your answer just because I could tell that you enjoy whiskey itself and that you have a lot of knowledge about whiskey itself. So I like that. Again, it's something I don't know about. So if wanting to learn more, this would be a great way to do it. And actually we could do this off air, but I figured since I have you here, I'm actually partnered with a company called 99 Proof and they help small distilleries kind of start up their whiskey. They fund whiskey operations when they're first starting. Cause like you said, there's a big gap between, okay, you put it in the barrel. Now you have to wait for a long time. And it's like, how do you fund operations during this time? So maybe I can connect you with them because I think they'll have a lot of investment opportunities. They've talked to me about wanting to do an NFT and they're like, but we just don't know anything about the blockchain. So I'm seeing some synergy happening right here. Yeah, that'd be awesome. Thank you. Awesome. Let's see, how will secondary NFT markets work with distribution dates when tasks are sold? Yeah, that's a good question. So on Cardano, it's really easy to trace who owns the NFTs. Now, obviously if they're listed, they go to a different wallet, right? So I would have to say that we'd have to take probably a snapshot in time to make sure that you have it in your wallet so we know who owns at that point in time so we can send the ADA, right? Once the tasks are sold to that individual. So I'd probably recommend that once we do the sale and once we announce the distribution, I would probably recommend people to pull it back into their own wallet so that we know who owns what and then we can verify that and send it through. Okay, nope, that makes sense. Let's see, what are the differences between whiskey from different countries? Which is most lucrative? So I guess you kind of touched on that already, but any more detail you can give? I would say Scotch is probably the most lucrative that I can see right now. Now, that's not to say that other countries don't make great whiskey. I think that's, you know, Scotch just kind of has the name and it kind of has the following as well. So I would say that Scotch definitely is probably the most lucrative. There's something crazy, I forget how much it was, but like a McKellen cask sold for some crazy amount of money so I just think that, yeah, Scotch just kind of has the market share and just has that notoriety. You know, it's the James Bond stuff, right? Yes, right, yeah, gotcha. Okay, well, very cool. Well, hey, I love this. I love adding this to your portfolio also because, again, a lot of crypto stuff is just degen, you know, making 29,000% a year, whatever the case might be. This is not that. Whiskey would be like a solid, higher than like the stock market or something like that, but still pretty good returns from, you know, standard investing kind of thought and look into things. So really like that and I like that you've made it so easy for people to get involved because, again, it's not easy for you to just go find a whiskey company and say, hey, can I buy some whiskey and let it age and things like that. So love that. Can you kind of remind people, again, I like to end with kind of a call to action. Is there anything else you feel like we didn't touch on or details you want to talk about? I guess one thing maybe I'll touch on is a lot of people wonder about like any legal concerns and stuff like that and I just want to be super clear that we've actually partnered with an NFT reward-based law firm to kind of help us navigate a lot of the regulatory things. So we're incorporated overseas. Even though I'm here within the United States, our team is actually mostly based out of Europe, which I think helps in that regard too. And then NFT laws are not very black and white at the moment, right? So I think there's a lot of interpretation there and it just varies by country. So just to say we're keeping on top of it, right? It's definitely a concern that we thought about and are still thinking about and making sure that we have everything kind of wrapped up. But I think our law firm is doing great and they're kind of really helping us with that. So just something I wanted to touch on. Yeah, no, absolutely. Maybe you can put me in touch with your law firm because I'm having a hard time finding lawyers who have any opinion on NFTs at all. It was horrible. It took us like, we looked at a lot of different things. So yeah, it's, yeah. Yeah, because I'm in the US as well and I have my own NFT collections and I'm like, can I say that there's an investment or how do you have to word it to not be a security and all those types of things? So yeah, that's good for people to know that you're on top of that and you might have to make adjustments if the SEC comes out with more regulation that, hey, you can't say NFTs give a certain return. Or a yield. Then you might have to change the website to say something else or whatever. So you're on top of all that. Joshin, Joshin, Jokin. I shouldn't say people's names. I'm bad at pronouncing names. I think it's Jokin. Jokin, there you go, there you go. Typical American, can't pronounce anything. But will you diversify or go all in on one distillery? Yeah, that's a good question. So we will be a couple different distilleries to diversify. So I think that one of the big things is we did a lot of research on who to partner with because that's a really big thing, I think, within the whiskey industry is you have to have some contacts to different distilleries and to know who to go with. So we will be using, I think there's at least four to five distilleries that we'll be using with for Scotch whiskey. And then there's also about four to five, maybe less for the Irish whiskey. A lot of it's gonna depend on when we mint and what's available, right? The barrels just don't sit around. People buy them kind of all the time. So it's gonna depend what's available once we mint. But yeah, definitely not all in on one distillery. I should also mention too that whiskey is pretty regulated. So it has to age for at least three years when it's spilled to be considered Irish whiskey or Scotch whiskey. And it has to be in government bonded and insured warehouses. So our price includes all of that storage. If the warehouse for whatever reason blew up, by the way, they're not all in the same warehouse, but if one of them did, we would be paid out for that. We'd be able to redistribute that back to people. So there's a lot of insurance that's built into that and the storage is built into that as well. Okay, gotcha. How do you know if you are whitelisted? Yeah, so I'm managing that on our end too. So on our server within the profiles, I am making profiles that say whitelist on there. And then we're gonna pretty shortly here release a list so people can check and have a way to verify their Cardano wallets as well. Just so we know once you, with Cardano, it's the same thing, right? Once we know your wallet address, you can go in and we can verify you for the mid-date, which will take place on our website. Okay, awesome. Let's see, Goofy says, do you have the distillery partnership already or is that something in the works? Yeah, yeah, we have it already. So the company that we are working with, they essentially have the partnership with the distilleries and then they pass on the information. So we talk with them. Okay, and you kind of mentioned this before, but as you get volume, it opens up a lot more opportunities. So if you come to a whiskey company and you're like, hey, I have $10,000, then they'll be like, okay, you can do this or this. But if you come and say, hey, I've got $10 million, then they're like, okay, well, let's get a partnership in place and things like that. So definitely get that. That'll evolve as time goes on. So just to remind people of when things are gonna get going here. So you're buying an NFT, 50% goes to the NFT itself. 50% is gonna go straight into this whiskey investment. They're projected yield of 15 to 20% per year on the whiskey side of it, just based on what whiskey's done kind of traditionally over the last, I mean, really 60, 70 years. It's kind of been doing the same thing for a long time. It greatly outpaces most other investment classes. And can you remind us, the day is gonna be, if you want a whitelist, go hop into the Discord. There's gonna be some giveaways of that. So again, I'll post that link again to the Discord. Hop in there and you can ask questions in there as well. I know there's a channel called Questions. So I assume that's the best place to go. And then stay tuned for both whitelist mint date and public mint date, hopefully sometime here in Q1. End of Q1. Fingers crossed. But stay tuned, follow the Discord and Twitter. Go follow on Twitter too, because that's probably where you'll get to see those dates. And definitely let me know as well. I'd love to just retweet and get tweets out. Hey, remember we did this AMA for whiskeys? They're minting, today's the day to get that out. We did, oh, Chris, question came in. If sold out, roughly how many casks would that purchase? Hang on a minute, let me do math real quick here. The prices vary, so I'm just giving a rough estimate here. I think it's around 428 casks is what it would end up being. Oh, wow. Yeah, so it's a lot. And each cask has about, I wanna say it's like 260.75 bottles or so in there, give or take. You lose a certain amount per year to aging, right? The evaporation, it evaporates. So yeah, roughly something like that. Do you know, just again, based on my other experience with whiskey, do you know how insurance works? You know, if something burns down or something like that, you guys have worked out how that's gonna work yet? Yeah, yeah, so like I was saying earlier, the storage that's paid up front for this, so it gives us 10 years of aging. So basically we're covered in the warehouse, but that also gives us insurance as well. So if something does happen, we would be paid out for the value of the casks too. And I think they do it per year. So if it's a three-year-old cask, they figure out what that would have accrued in value to, and then that's what you get paid out. I should mention too, they don't keep it all in one warehouse. So distilleries are really interesting. They actually spread it around. So some they have in certain warehouses, or they might have it in competitors' warehouses just in case something happens so they don't lose stock. So it's pretty cool that they do that across Scotland and Ireland. Yeah, diversifying. It's just like putting our money in Binance and FTX. If one of them burns down, you keep some of your money. Let's see, can you get fewer barrels from higher quality or that doesn't really matter? It's really interesting, right? Because whiskey ages for a long time, and there's only so much they can produce a year from each distillery. So I think quality now might not be the same as quality in 10 years from now. And that also plays into demand, right? It really depends on what's in demand for that time point. So I would say that we're just gonna try to diversify as much as we can. And then some barrels might appreciate way more than other ones, but I think overall it'll average out to what we think. So we're not putting all the eggs in one basket, unless for some reason that seems like a good opportunity, but I doubt it. I think we'll probably just diversify it as much as we can. Yeah, okay. Nope, that makes a lot of sense. Because like you said, yeah, you could let some barrels age for longer. You could just let barrels keep aging forever, never take profits, but I think you're better to stagger and diversify and things like that. So Goofy Gophers, this has been so interesting learning about something completely new. And yes, that's one of the reasons I love investing. It's like, yeah, you go invest in gold, and then you start learning about all the gold mines in Africa, and then you invest in whiskey and start going to distilleries and things like that. And you'll be amazed when you have money into something, then your interest peaks on it. You're out in Kentucky or something, you want to go to the different distilleries and learn more, so love it. Are there any similar projects on other chains? The only one I'm familiar with is Bourbon and Blockchain, that I think they're on BS, on Binance chain, and they're focused just on bourbon. So I think whiskey would kind of be like a bigger set. Bourbon's like a particular kind of whiskey, is that right? That's right, yeah. Made in, I think usually it has to be made with corn, right, it's like 51% corn. But yeah, that's, I don't think, I've not seen one for Scotch or Irish whiskey. I've not seen a similar cask investment type NFT or other type of investment. There's been a couple I've seen that are like bottle-based, right? So it's more of like, it's already bottled, whatever, your NFT or whatever, coins or something, like Equal equals this bottle, but not cask-wise, I haven't seen, so. Yeah, no, very cool. I don't know if you're familiar with VinoVest, but they, you buy bottles of wine that ages, and they're launching WhiskeyVest, but they've been launching it for quite a while, so I'm just, I'm not sure. I don't imagine returns will be as high as going through like you guys, because they're gonna take a lot of overhead on their side. That's what they do with VinoVest, is your wine appreciates kind of the same 15% to 20%, but they take like 4% or 5% for their fees, so you end up making 12% to 17%. Oh yeah, I should mention, actually, our team doesn't own the casks, right? We have actually a 0% ownership. I think that's important. I'm sorry, I forgot to mention that. So we're getting paid through the NFT side of it, not the whiskey side of things, so that's why we are just really acting as the executors of what people want, right? So I think that's important to mention, is that at the end of the day, we're not taking a cut of any of the whiskey piece of it, so that's kind of like wholly owned by the NFT holders. Yep, all gains will go to the NFT holders, so I like that. That's how I like to do projects, and then you can even be a holder yourself as the project owner, and it's kinda, it's like, hey, it's how I beta test my NFT collections. It's like, you know what? I'll be the first minter, and I'll own five or 10 of them myself, so love that. So, well, hey, awesome. CJ, it's been great getting to know you, learning about your project. I wanna thank first the audience. You guys are awesome. A lot of people, I love doing AMAs with different projects, because new communities kinda come in, I get to meet new communities. So appreciate you guys. Please hit like on your way out if you're watching this as a recording. You can't ask live questions, but please still hit the like button, and you can still join the Discord and ask questions there. And CJ, thank you for coming on, sharing your passion, sharing your knowledge of this topic, and yeah, look forward to kinda seeing how things go for you. Yeah, thanks so much, James, for having us, and definitely, yeah, ask questions away in the Discord, and if anyone needs anything, just reach out. We're always around. Awesome, yeah, and I'll be in touch with you. I'd love to put you in touch just with the 99 Proof people and just see if there's anything there. No pressure, obviously. I like to just kinda toss in a grenade of, hey, you two meet, and then I'll just back out and just see what comes from it. And for sure, let me know when you guys do launch and know those dates, and I'll get some tweets out and things like that. Okay, perfect, yeah. I mean, that's how a lot of things start, right? So that's awesome. Awesome, appreciate it, man. Have a great rest of the day. All right, take care. You too, have a great Saturday. Bye, everyone.