Want to eat empanadas for life? You need this NFT

Andes Empanadas, a company founded by Argentines living in Spain, launched a collection of non fungible tokens (NFT) or, as they call them, «tokenized empanadas».

Source: Criptonoticias / Nicolás Antiporovich

Key facts: 

• There are several types of «tokenized empanadas» and each gives different benefits.
• The company’s plan is to expand empanada production and reach other countries in Europe.

Each of these digital collectibles developed on Polygon, an Ethereum sidechain, gives whoever has acquired it the possibility of obtaining various benefits related to the company.

The most coveted by the empanada lovers, arguably, is the NFT Sapphire. The Andes website details: «come and eat our products for free as long as you own the NFT Sapphire». In addition, airdrops are promised on a token released by the company and two NFT «blue». Also, those who have an NFT Sapphire have access to the benefits of all other tokens released by the company.

It is worth mentioning that a benefit of such magnitude as the lifetime and unlimited access to empanadas and other products of the company comes at a price. Anyone wishing to get their hands on a copy of the NFT Saphhire token will have to pay 17.5 ethers (ETH). At the time of writing this article, it is equivalent to about USD 48,600, as can be seen in the CryptoNews Price Calculator. Payment can also be made with fiat money through the Stripe payment gateway.

The OpenSea marketplace, where these NFTs are traded, shows that there are a total of 49 of these tokens, which are waiting for some foodie to purchase them.

Other tokenized empanadas

For less affluent pockets (or, rather, wallets), Andes Empanadas has also prepared other tokenized options. The cheapest is the NFT «Cristal» which can be accessed for 0.35 ETH (about USD 970 at the moment). This token grants a 10% discount on Andes products at the store in San Sebastián de los Reyes, Madrid. In addition, it allows you to obtain exclusive merchandising.

On the other hand, the «Blue» NFT gives its holders all the rewards of the «Cristal» NFT, plus exclusive access to a unique empanada flavor for members, and exclusive merchandising. This token can be purchased for 1.93 ETH (about USD 5,360).

The «Gold» NFT provides all the rewards of the «Blue» NFT, a copy of the «Cristal» NFT, empanada tasting, Argentine wine tasting and access to Argentine food events where Andes is present. In addition, an exclusive merchandising gift is promised to be sent to NFT «Gold» holders. Gold NFTs are on sale for 3.5 ETH (USD 9,700 approximately).

Finally, Andes Empanadas has launched the «Platinum» NFT. Those who purchase it also get 3 «Cristal» NFTs, the possibility to participate in some collaborative decisions about the future of the company, VIP access to Andes sponsored events and tastings of Argentine wines and gastronomy. Each of these NFTs can be purchased for 8.75 ETH (about USD 24,300).

A virtual community that became a company
Andes Empanadas was founded a little less than a year ago by Leandro Lázaro Regales, Juan Pablo Olivadoti and Juan Manuel Silva, three Argentines living in Spain. They co-founded the virtual community «Argentinos por España», with a presence on Facebook, Instagram, Twitter and YouTube.

Although none of these three individuals specializes in gastronomy (indeed, they have confessed that they do not know how to cook, but hire professionals in the area) they saw the production and distribution of Argentine-style empanadas in Spain as a potential business, and they jumped into action. They currently have two stores in Madrid.

The company -as detailed by its co-founders in a recent interview with Forbes Argentina- claims to have reached its production ceiling. In order to continue with the company’s expansion, they opted for the sale of fungible and non-fungible tokens as a means of financing.

Their plans, with the money they raise, will be to expand production, rebrand the stores, reach more cities in Spain and, in a next stage, other European countries.