The *NFT (non-fungible token) will highlight the farmer of one of these special lots and coincide with an expertly roasted batch of the coffee for the first 50 purchasers!
The NFT will be posted for sale on Rarible on 8/5/2021.
*Know nothing about NFTs? Read our post about what they are and how you can purchase one.
Why Did We Choose to Do an NFT?
Have you been enjoying our coffee? Do you absolutely love every sip and moment of one particular blend until the very end? Outside of all the hype and hoopla, NFT’s are a terrific way to create an experience that lasts forever which is lacking in coffee, especially when it comes to award-winning auction lots. Once these award-winning coffees are purchased, roasted, and consumed, the memory of that experience and recognition of those that labored over the crop slowly disappears. We want to lock in that experience through an expertly crafted piece of collectible digital artwork that recognizes and highlights the producer.
“We wanted to provide an experience that lasts forever between the consumer of specialty coffee and the farmers that produce it. Celebrating the farmer’s success through an NFT highlights their work and builds a bridge that doesn’t exist with consumables. Once the coffee drinking experience is over, there is little to recognize and appreciate those behind that beautiful cup of coffee consumed.” – Dan Hunnewell (Coffee Bros.)
The NFT project will be 1 of 50 pieces, including the chosen farmers’ award-winning coffee in an artisan roasted 8oz bag. The proceeds of the NFT project (above and beyond costs) will go back to Cup of Excellence and the World Coffee Research to help contribute to their mission of empowering and improving the lives of coffee producers.
The World Coffee Research’s strategic aim is to preserve origin diversity in the face of the climate crisis by accelerating innovation in coffee agriculture. Their core work continues to be around coffee genetic improvement. World Coffee Research works across the entire innovation pipeline to provide farmers with access to improved varieties, from breeding through field trials to nurseries and seed value chains.
What Your NFT Purchase Gets You?
- DIGITAL ARTWORK: Your NFT purchase gets you a limited-edition piece of digital artwork that correlates back to an award-winning lot of coffee from the Cup of Excellence Ethiopia auction that occurs in July.
- ROASTED COFFEE: Each piece (50 in total) will also receive a 8oz bag of roasted coffee from the chosen farm.
- DONATION: A portion of the proceeds of the NFT will go back to supporting the Cup of Excellence and World Coffee Research.
- YOUR FOREVER COFFEE EXPERIENCE: You will now have a collectible that ties your coffee drinking experience back to the producer. The digital artwork will feature the producer, the rank number in the auction, the varietal, and its cupping score!
The First Coffee in The Series
We selected the 8th ranked coffee from producer Asefa Dukamo in the 2021 Ethiopia Auction.
About The Coffee:
- Cup of Excellence: Rank 8
- Cupping Score: 88.57
- Varietal: 74158
- Process: Washed
- Region: Bensa, Sidama Ethiopia
- Altitude: 2,200 – 2,300 MASL
- Tasting Notes: Apple, Black Cherry, Lemon
Purchase Our First NFT On Rarible
2021 Cup of Excellence Winner: Rank #8
Producer: Asefa Dukamo
Cupping Score: 88.57
Taste Notes: Apple, Black Cherry, Lemon
NFT Purchase on Rarible.com
About Asefa Dukamo:
Asefa Dukamo, the first-born son of a coffee-growing family, helped cultivate coffee and other garden crops from a very young age. As a teenager, Asefa began buying coffee cherries from nearby relatives and villagers as well as coffee from his parent’s garden and made the arduous journey to distant washing stations. During this time, Asefa set a goal to open washing stations closer to his village to help local coffee farmers cut their travel time, decrease transportation costs, and supply coffee cherries when they were at peak freshness.
His dream became a reality when Asefa was able to open his first washing station in Girja village, less than a mile away from his home, and another in Eltama, roughly 19 miles from Girja, a year later.
Asefa placed 7th in the Cup of Excellence and 2020 and recently placed 8th in the Cup of Excellence 2021.
Frequently Asked Questions About The NFT Program
How Do I Purchase the Coffee Bros. NFT?
To purchase a Coffee Bros. NFT, you will need to conduct two important steps.
- First, you will need to purchase ETH from a cryptocurrency exchange such as Coinbase, Gemini, or Binance.
- Once you have completed that step, you will need to transfer your ETH into a non-custodial digital wallet like MetaMask. The MetaMask wallets connect to the Rarible website, where the Coffee Bros. NFT will go up for auction.
- There are web applications for Coinbase (crypto-currency exchange where you can buy ETH), MetaMask (your crypto-currency wallet, which allows you to transact on websites and hold your digital artwork).
Read our article How to Buy NFTs – A Quick Overview for a step-by-step guide to getting going!
Will The Coffee Bros. NFT Be Sold Via Auction?
Why Are We Partnering with a Cup of Excellence?
Cup of Excellence is the most prestigious competition and auction for high-quality coffees. The level of scrutiny that Cup of Excellence coffees undergoes is unmatched anywhere in the specialty coffee industry. Each year, thousands of coffees are submitted for consideration, with winning coffees sold in global online auctions at premium prices. The vast majority of auction proceeds go to the farmers.
The Cup of Excellence competition has pioneered integrity and transparency in the coffee industry, ensuring the value of winning coffees. Each sample entering the competition process is assigned a number known only to the auditor for each competition, and each jury member cups the coffee blind. In addition, each lot is documented throughout the entire process so that winning coffees are traceable to the farm and exact micro-lot.
Since 1999, the Cup of Excellence (COE) program has set the standard for the increased premiums that farmers have received for their exemplary coffees. It continues to build a much more transparent infrastructure and gives farmers the tools needed to improve the economic model of their farms. COE raises funds for coffee farmers in coffee-growing countries, incentivizing and motivating farmers who know there can be a recognition and financial reward for their hard work and effort.
What Is So Special About The Coffee Bros. / Cup of Excellence NFT Program?
The Coffee Bros. NFT program is the first of its kind in the coffee industry. The goal is to create an experience that will last forever with award-winning coffees, all while giving the deserved recognition back to the producer and supporting organizations that look to improve the livelihoods of those producers.
The Coffee Bros. NFT project is 1-part digital artwork (as an NFT), 1-part physical good (10oz bag of coffee), and 1-part donation (support going to Cup of Excellence and World Coffee Research).
The Coffee Bros. NFT program will be a monthly offering featuring the best coffees in the world.
Why did you choose to sell through NFTs?
For us, the most interesting aspect of selling our Coffee Bros. offering as an NFT is that everything occurs on the Blockchain. The Blockchain is essentially just a ‘digital ledger’ that records and authenticates transactions if you are unfamiliar with Blockchain. Even more impressive is that anyone can see the Blockchain and is an extremely secure technology used across industries from healthcare to banking.
We chose NFTs for our digital artwork project because it is a public and secure way to transfer ownership of a digital asset. The NFTs are recorded on the Blockchain, which provides proof of ownership and the legal right to do as you wish with that digital asset (yes, you can resell it!). This is exciting because we plan to roll out additional NFTs and create a collectible digital goods marketplace that ties back to exceptional coffees and award-winning producers.
Can you resell the NFT?
Absolutely. The first 50 buyers of the NFT will receive a bag of roasted coffee but not any subsequent buyers.
Where will my Coffee Bros. / Cup of Excellence NFT be stored?
What is amazing about NFTs is that all transactions are recorded and stored on the Blockchain. Further, all digital assets are viewable through your non-custodial wallet like MetaMask or any NFT marketplace like Rarible (where we will be selling our NFT).
What is the Difference between Bitcoin and NFTs?
NFT’s are non-fungible tokens that are a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can represent items such as photos, videos, audio, and other types of digital files.
Bitcoin is a cryptocurrency unlike fiat currencies because they are created, distributed, traded, and stored using a decentralized ledger system, known as a Blockchain. Bitcoins can be combined with non-custodial digital wallets like MetaMask to make purchases, like NFTs.
What blockchain are these NFTs minted on?
NFTs are minted on ERC-721 compliant contracts deployed to the Ethereum blockchain. This is the “gold standard” and the most widely supported format for digital collectibles.