The world of Non-Fungible Tokens (NFTs) is now coming to the cigar industry. Today, United Cigars Director of Operations, Oliver Nivaud has announced the formation of Concept Cigars. It’s a new venture used to create conceptual NFT cigars.
If you aren’t familiar with NFTs, it is a unit of data on a digital ledger known as a blockchain where each NFT represents a unique digital item. Typically these digitial items represent art of other types of cream work. The NFT is the mechanism to represent something conceptual. In this case, it’s a conceptual NFT cigar.
United Cigars explains the concept cigar as follows:
<blockquote>Like a concept car, a concept cigar is made to showcase new styling. Concept cars are often shown at motor shows to gauge customer reaction to new and radical designs which may or may not be produced. Concept cigars a similar premise, it may never go into production directly, but possibly could. In time, a concept cigar could undergo many changes before the design is finalized and produced. This is not necessarily a production-intent prototype, just a concept cigar for now with future projects in the works.</blockquote>
The first project announced as an NFT is the Atabey Black Ritos NFT. Simply put, this is not a cigar that is not in production yet, but a concept being floated out there in terms of digital art. It was created by Nelson Alfonso of Selected Tobacco (who makes the Atabey brand which is distributed by United) and Golden Age Visual Developers. The concept of the Atabey Black utilizes an Ecuadorian Maduro wrapper over the Atabey blend. It’s a realistic scenario as Tabacos de Costa Rica (where Atabey is made) is know to use Ecuadorian wrappers for its maduro, bt right now, you can’t touch or smoke it, but you can purchase an NFT Digital asset on Ocean Sea (www.opensea.io).
The Atabey Black Rios NFT has ten boxes produced as NFTs. An 11th box of the Atabey Black Ritos will be available as singles with the 25 singles available for sales as a single NFT cigar. Pricing per box is set at 0.48 ETH (Ethereum – that’s a cryptocurrency that translates to $1,016.36 USD) or 0.024 ETH (or $50.82).
In terms of money raised, the profits for the Atabey Black Ritos NFT will go to the recently formed Cigar Rights of the World organization.
Image Credit: United Cigars/Concept Cigars