London, Aug. 23, 2022 (GLOBE NEWSWIRE) --
- The 1 Club is an asset-based invite only members’ club where only 11,111 members will ever be admitted via a saleable NFT
- Blockchain technology used to disrupt the traditional members’ club model by removing annual fees – granting lifetime access through an NFT which increases in value over time
- The world’s first Web3 invite only private members’ club launches to connect leaders & inspirational people to improve lives, businesses & communities
London, June 2022 – Today The 1 Club launches, a first of its kind private member’s club powered by the blockchain to connect and empower people to make positive change and impact. The club will bring together aspects of the metaverse and Web3 and the real world, creating a bridge for members to access future technology. The aim of the club is to create both a virtual and physical platform to bring together the world’s most influential and inspiring people, where the convergence of a diversity of perspectives will encourage personal and professional growth alongside positive social change.
Founded by Akshay Ruparelia, Danu Kumanan and Akash Ruparelia, the idea for The 1 Club was conceived when each of these successful entrepreneurs came together and discussed the power that a professional network can have, they now plan to harness this power to collaboratively support new business ventures, philanthropic initiatives and social causes around the world. Joining them on this journey are the Ambassadors for The 1 Club, whose number already includes high-profile names such as Jay Sean, Reebok co-founder Joe Foster, and Marisa Peer.
Unlike many NFT-based projects, which often rely on selling out a portfolio of digital art quickly at high prices, The 1 Club’s utility will only increase as the number of members rises, as the club strives to facilitate professional advancement, personal development, and social impact. This will be achieved with physical and virtual events and retreats encouraging collaboration alongside an exclusive social networking app. The 1 Club already has a multitude of partnerships in place to provide their members with exclusive benefits. These include London members’ club Tramp, luxury brand Aspinal and exclusive event promoter Pollen. The benefit provision is destined to grow and grow over time.
Membership is limited to 11,111 in total and is accessed through a unique NFT. Invited members are able to purchase the NFT, which grants a lifetime membership and access to the club and its benefits and can be sold to others in future as its value rises. This transforms the traditional members’ club model from an annual expense to an asset increasing in value over time.
Further to this, 20 percent of the royalty fees generated by membership will be dedicated to philanthropic causes and endeavours, with space for members to suggest, support and be involved in further charitable projects and initiatives. At the heart of this is a belief that the fastest way to change the world is by creating wide-scale social impact initiatives around the globe, led by the world’s most influential people.
An example of the charities The 1 Club has already partnered with is Project Hope, a renowned global health and humanitarian relief organisation, and World Central Kitchen, a not-for-profit non-governmental organisation devoted to providing meals in the wake of natural disasters. The 1 Club is looking to identify further charity partners as membership expands.
Through an invite-only model of membership, the direction of The 1 Club will be decided by the members, an example of the power of decentralisation made possible by the use of blockchain. This will mean that unlike other member’s clubs, The 1 Club will not be held back by tradition or even the founders, creating an innovative and open environment for the future leaders of the world.
Membership to the club is available through one of three routes: selection by the founders, application directly to The 1 Club found on their website (www.1club.io), or an invitation from an existing member – the main driver of new memberships. Invitations can be earned by staking a membership, a key tenet of the tokenomics[1] which will make the memberships more exclusive as the number of members increases.
Akshay Ruparelia, CEO of The 1 Club said: “The 1 Club is designed to be the place where the most talented entrepreneurs, the most gifted artists and the most driven athletes can come together to inspire each other to make a positive impact on the world. Whether it be personally, professionally or on a social impact level, we are making it our goal to help our members achieve their potential and reach their ambitions by creating the world’s most impactful network.”
Danu Kamanan, CTO of The 1 Club, said: “Unlike other NFT-based projects, we are not promising the world in order to sell out on day one, rather we have set up a utility roadmap which will mean membership to The 1 Club becomes a more and more powerful tool as we welcome more individuals into the club.”
Akash Ruparelia, CMO of The 1 Club, said: “Creating an environment which is at once diverse and like-minded, individual and collective, will be a challenge, but we are excited to be starting this journey with some of the most talented individuals on the planet by our side.”
Akshay Ruparelia is a serial entrepreneur, starting his first business at 17 and later dubbed the UK’s youngest millionaire after founding the UK’s 3rd biggest online estate agency Doorsteps. He has since been named to a number of influential lists of the best and brightest across the world, including being the youngest member of Forbes 30 Under 30. Akshay is also a Prince’s Trust RISE board member and is passionate about charity and social change alongside the future of Web 3.
Danu Kamanan is world-leading blockchain and DeFi Software Engineer, building and selling his first website at the age of just 13. He is a passionate believer in the ability of blockchain and Web 3 to change the world for good, part of the reason for co-founding The 1 Club alongside Akshay and Akash. Danu has worked at companies such as Coinbase and also holds a First Class degree in Mathematics from Queen Mary University of London.
Akash Ruparelia is a driven and innovative business leader and entrepreneur who started has first non-profit at just 14, going on to found a successful social media agency that has worked with leading entrepreneurs such as Tej Lalvani. He is also a strong believer in the power of charity and motivational speaking, spending time as a monk and working on numerous philanthropic projects.
[1] The Tokenomics of The 1 Club is central to its offering and the increasing exclusivity of membership. Initially, membership will be driven by the founders through a vigorous selection and application process until such point that membership reaches “escape threshold” – the number of members needed to grow the Club organically.
From this point on members will be able invite anyone in their network without approval and without restrictions in a decentralised manner. Invites requires the spending of KEYs (a token), and the number of these KEYs require to invite a member will rise (up to 50) as more members join. KEYs are earned by staking an NFT membership for 1, 3 or 6 months, which rewards members with 1, 2 or 3 KEYs each month respectively.
The initial cost of membership is set at 0.25 ETH and rises by 0.002 ETH for every NFT minted (one per new member). The combination of increasing cost of membership and increasing scarcity of invites is designed to maintain the exclusivity of The 1 Club in a decentralised manner.
