Wave new retail concept involving Crytpo Bros and merchandise chosen by Committee Leaders in Hayes Valley


Something very strange is happening to Hayes Valley, which at least some investors believe could be a futuristic retail concept that feels more like a co-op community than a traditional store. And it sounds like something dreamed up in a crypto-funded cocaine brainstorming session, but who knows where retail is headed anymore?

DeStore, which has actually had a presence at 348 Hayes Street – a former interior design boutique called Eurasian Interiors – since late last year, recently put up signs advertising Store_0, “A retail store operated by a DAO”. It would be a store run by a decentralized autonomous organization, via NFT investors. As Bloomberg reports, 21-year-old co-founder and CEO Itsuki “Datz” Daito moved to San Francisco a few months before the pandemic began and is living with other “founders” from Japan who are all “into Web3 “. Daito has secured seed funding for DeStore “Store_0”, and the idea is that people who buy more of the NFTs that underpin the business will have more power to vote on what gets sold and how the store works. ‘company.

And all that voting etc. will be done via Discord – the Slack-like app that has become a go-to space for NFT communities.

Daito draws the comparison to the Park Slope Food Co-op in Brooklyn — and other co-ops like it where members have to take turns staffing the place themselves and having a say in operations.

DeStore’s manifesto, on a sleek webpage with minimal words, suggests there are plans for “5,000 stores worldwide” with an emphasis on “taste.”

“Big, vapid corporations keep adding stores to the world,” Daito’s manifesto says. “Uniques are being destroyed by centralized capital. COVID-19 has accelerated it further. The world is getting boring. It’s 2022. Time to fix it.”

Daito suggests that even in the current “crypto winter,” there is still demand for the special offline benefits that certain NFTs offer their investor communities. “During the pandemic, online shopping is increasing, of course,” Daito told Bloomberg. “But offline shopping is also gaining momentum, if it’s offering offline-only value. Like a community experience; like a touch experience.”

The DeStore at 348 Hayes doesn’t have much so far except for some key framed artwork that looks like your average NFT art. But once there’s a community of owners, Daito expects the 700-square-foot space to become something of a community center as well as a store — but selling what, who knows?

DeStore is the first NFT retail idea we heard about in SF, but in June we heard about an NFT-backed restaurant heading to Salesforce Park — the Japanese luxury concept called SHŌ, from chef Sho Kamio. In the case of SHŌ, NFT shoppers are promised three tiers of offline membership experiences once the restaurant is built, which is not yet the case.

Questions swirl about how a DAO-backed store/club actually works. Will anyone actually comment on this? Will someone show up for the shifts they accept? like an episode of vast city famously ridiculed, many 20-somethings move to Brooklyn and love the idea of ​​joining the co-op, but show up for shifts when the time comes? Some kind of inconvenience!


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