Friends With Benefits

ABSTRACT

Over 257 years, the Hennessy brand built an unparalleled legacy in spirits. Core to its success was a reverential embrace of culture, forming priceless bonds with communities of the arts, entertainment, hospitality, and beyond.

As Web3 technologies enable new community experiences, Hennessy has enthusiastically pursued FWB as a strategic partner for developing new concepts with inspired digital innovation.

Within this proposed partnership, Friends With Benefits will co-present ‘Cafe 11’ – a first of its kind creative and experiential project accessible to FWB Members and holders of a co-created, Hennessy branded NFT.

MOTIVATION

FWB Partnerships recognizes the significance of aligning with cultural and commercial global brand leaders for revenue and positioning. This trailblazing collaboration will empower talented members of the DAO to work with influential brands and retain value within the FWB ecosystem now and in the future.

The motivation is to create revenue opportunities for the FWB Treasury that bring value to the $FWB token while developing Benefit programs, attracting audiences to the FWB community, and further establishing FWB as a thought leader in the Web3 space.

THE “CAFE 11” CONCEPT

‘Cafe 11’ is the title and theme inspired by the Jazz Age and Café Society of early 20th century France. The French appreciation for craft and conviviality was a fertile ground for a creative culture to emerge in the cafes, bars, and social spaces of Paris and Montmartre at the time.

Today, creative communities are similarly exiting the limiting constructs of centralized media platforms and building sovereign creative spaces in Web3 like FWB.

With Cafe 11, FWB & Hennessy will recreate the energy of those physical gathering places of 100 years ago, serving a spirit of art and alchemy for creatives who never settle.

DETAILS

The concept and events will premiere in LA and NYC in Q4 2022.

Cafe 11 will be a multi-day experience with a world class bar program as a backdrop for programming, dining, and entertainment.

The curation for Cafe 11 will be developed in the new Public Works channel in the FWB server. The channel will allow FWB members to participate in the project by proposing and collectively curating elements of the exhibition.

The physical speakeasy will be accessed through Gatekeeper for holders of $FWB and the Cafe 11 NFT, designed by an FWB community artist. This NFT will additionally grant buyers early and privileged access to future Hennessy Web3 projects and cultural experiences.

(2022) total supply of Cafe 11 NFTs will be available. 1765 will go to public sale, 257 will be allocated for the FWB community.

The FWB Public Works team will airdrop the 257 NFTs to members participating in the project. FWB members who do not participate to claim the free mint will have early access to purchase the NFT, prior to the public sale.

SCOPE

FWB contributors will be responsible for developing the concept and executing the creation of the NFT. FWB contributors will also lead the production on Cafe 11 events including curation, booking, and coordination.

Hennessy will drive marketing efforts and media opportunities for the NFT drop across all brand channels, and support the budget for the Cafe 11 Activation.

PRICING

1765 NFTs will be priced at $450 (transacted in ETH) for a total of $794,250 in revenue. FWB will additionally capture 5% of secondary market sales that will be split per the return of capital schedule.

RETURN OF CAPITAL

Hennessy will receive 66% of gross sales (est. $524,025) FWB will receive 34% of the gross sales (est. $270,045)

BUDGET

FWB and Hennessy maintain the same 66% / 34% principle in expenditure. FWB specifically, will allocate the following budget against the above revenue:

Category	Spend
FWB Revenue	270,045
Art and Technology (NFTs)	(65,000)
Staffing and Operations	(65,000)
Travel + Expenses	(5,000)
Total Profit	135,045
% margin	50%

Hennessy will allocate their commensurate portion primarily toward the production categories of the activation, with an ongoing accounting reconciled at the completion of the events.

IMPACT ON THE FWB COMMUNITY

Executing on the above opportunity would provide the following benefits and opportunities for the community.

1. Events and Benefits Innovation: Establishing lasting value propositions for the membership in the form of profitable events and scalable IP, from and for FWB.

2. Meaningful Creative Projects: “Cafe 11” will generate culturally and financially meaningful opportunities for participating FWB members. This FWB x Hennessy collaboration will surface artists, organizers, and professionals from the community to collaborate with the brand icon. Subsequently, it will attract creatives in radius to join FWB, while providing a roadmap for future collaboration pursuits.

3. Escalating IRL Experiences: Hennessy is a premium global spirits brand with 250+ years of history working in culture, hospitality and entertainment. The collaboration will take FWB hospitality experiences to a whole new level for FWB token holders to enjoy.

4. Financial Return: The project is projected to create a six figure revenue return that exceeds any prior partnership profits to date.

5. FWB Visibility: Leveraging the reach and brand recognition status of Hennessy as a partner brings a significant escalation of global cultural cache to the FWB brand, work, and community.

6. Partnership Playbook: This collaboration would allow FWB to iterate on and formalize a playbook for DAO partnerships. It maintains the position of FWB as a thought leader in the DAO space and offers a templatized playbook for future collaborations.

WAYS TO BE INVOLVED

Beyond the benefits, FWB membership will have opportunities to materially participate in partnership projects. Below are some of those options:

1. TEAM: Members can apply for compensated roles within the partnership as they pertain to professional and creative services. The intention is to build a model for talented community members to engage in the project, flex expertise, and receive compensation.

2. CONTRIBUTOR: Any FWB member who wishes to participate in the Cafe 11 creative experience can do so in a new Public Works channel. Up to 257 members who participate will receive a free mint of the Cafe 11 Hennessy NFT.

3. GUEST: FWB token holders will have access to the Cafe 11 experience in LA and NY taking place in Q4 2022, with future dates to be announced pending project success.

SUCCESS METRICS

To assess the impact of the partnership, FWB will review the following results:

Objective 1: Involve FWB membership in the co-creation, compensation, collaboration, and collection of the efforts to bring an experience to market.

KPIs:

• Identify and engage capable FWB members in professional co-creation of the project
• Generate original IP alongside the FWB membership
• Drive organic conversation around the project as it develops in the go-to-market period

Objective 2: Create financial returns for the FWB Treasury and drive value to the $FWB Token

KPIs:

• Provide timely and transparent accounting made available to Public Works Channel
• Net-positive profit after costs of first phase of project execution in Q4 2022
• Native integration and utility of $FWB within the project

Objective 3: Drive FWB brand and benefit value to the membership by increasing visibility, creating new experiences, and welcoming new audiences to FWB.

KPIs:

• Measurable / rankable earned media in lifestyle, spirits, arts and culture press as well as social media outside of the FWB community that names the partnership, concept, and activation
• Organic user generated social media (including FWB Discord) content with positive sentiment toward the execution / experience of an event
• New member applications that mention Hennessy, related categories (a la spirits, hospitality, food and beverage, arts and culture), visible collaborators of the project, or press mentions

CONSIDERATIONS

FWB is confident in the success of this project and its benefits for the FWB membership, after discussing and considering the below:

1. Event Radius: The initial Cafe11 activation will be physically limited to participants in the LA and NY markets.

2. Volatile Market: Given recent market volatility there is some uncertainty in transacting in ETH and selling an NFT asset.

3. Age Restriction: Event attendance will be limited to individuals 21+ in age, perhaps excluding a small portion of the FWB membership.