Introducing Mandala Club NFT Membership;
the first of its kind in the world of Private Members Clubs.

Presented by the home of conversation, creation, celebration and connection, it will offer a unique combination of both the tangible and virtual. Fully transferable membership at a compelling and competitive launch, as well as additions in art, music and culture for which Mandala Club has become renowned.

The Club will present a new dedicated team to provide a unique offering for Members who are keen but do not know where to start, as well as becoming a central point of contact for its NFT community. The team represents an incredible resource for members in the form of advice, education, and ultimately community curation.

It will launch on 8 June 2022 with a digital art airdrop from the artist collective of James Brown, curator of Mandala Club’s physical art collection in POPI’S, The Analogue Room and Library at Mandala Club Singapore; the first Mandala Club.

We are collaborating with leading NFT experts Great South Gate Asset Management (GSG) who are headquartered in Singapore and members of Mandala Club. GSG’s management brings 120+ years of experience and expertise in digital asset investing from leading global institutions spanning quantitative analysis, investing, trading, operations, legal and compliance.

The NFT will be hosted on the ETH Blockchain (ERC 721), and in custody with GSG until June 2023.

As a launch offer to the Mandala community, the NFT will be sold at an upgrade or top up price net of an existing member’s original joining fee, up till 30 June 2022.

The upgrade and top up is also available for one of the individuals in a couples or corporate membership.

The Club will release further tranches of NFT membership as its footprint and community grows, capped at 10% of its total membership community.

NFT Membership will also be available to non-members as a way of joining the Club.

What benefits do I receive as a token holder?
The token gives you membership and full access to Mandala Club located at 31 Bukit Pasoh Rd, Singapore, and further Clubs as the brand expands. NFT membership is valid for lifetime and is transferable. In addition, token holders are entitled with exclusive early access to Mandala Club’s future NFT drops.

Do NFT members need to pay the Club’s monthly dues?
Yes. NFT members will continue to pay the prevailing monthly dues.

Do NFT members need to pay food and beverage costs in the club?
Yes, F&B costs need to be paid in the club upon consumption.

Who is eligible to purchase the membership NFT?
Anyone who is 21 years or older can purchase the membership NFT.

Can one person purchase more than one token?
No. The token is intended to represent a single membership and each person is entitled with up to one token.

What is an NFT?
A non-fungible token (NFT) is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. Types of NFT data units may be associated with digital files such as photos, videos, and Audio.

Why is this membership in the form of an NFT?
Every NFT has a smart contract that verifies and declares ownership of the membership. As an NFT, the membership becomes an asset to the member. Members can then sell their NFTs on the secondary market. The unique, digital ownership of NFT allows Mandala Club to build a loyal, members-driven culture that’s paramount to sustaining a membership organization.

What is Ethereum and ETH?
Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform.

When will the membership NFT be available for purchase?
It will be officially launched in June 2022. Make sure you check Mandala Club’s web page for updated information.
 
Where can I purchase the NFT?
You can purchase the NFT directly from us and our partners at GSG
 
How many NFTs will be available for purchase?
The plan is to sell 100 NFTs and keep the remaining allocation under the club treasury reserve for future growth, e.g., partnerships and community engagement. Mandala Club reserves the right to release NFTs in further tranches to represent no more than 10% of its total membership community.
 
How do I pay for my NFT?
You can pay with either credit card or cryptocurrency. To pay by credit card, our dedicated NFT community team will be able to assist and facilitate. If you wish to pay by cryptocurrency, we will release more instructions via the Member App closer to the launch date.

Can someone outside of Singapore purchase the NFT?
Yes, anyone can purchase the token. However, membership onboarding needs to be done in person at Mandala Club located at 31 Bukit Pasoh Rd, Singapore. 
 
How long is the membership valid for?
Membership NFTs represent lifelong membership as long as you own the NFT.
 
Can I lend my membership NFT to friends or family?
No. You cannot lend your NFT to anyone. However, if you decide that you no longer wish to be a member, you can transfer or sell your NFT to others, after June 2023.

If I transfer or sell my NFTs to others after June 2023, are there fees associated with the transaction?
Yes. If you sell your NFT, a 5% transaction fee will be charged by Mandala Group for every transaction. If the NFT transfer is made OTC (over the counter), the seller will pay a 5% transfer fee (Minimum 750 SGD Transfer Fee)

What is a smart contract?
A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network.

What is a hot wallet?
A hot wallet is a cryptocurrency wallet that is always connected to the internet and cryptocurrency network. Hot wallets are used to send and receive cryptocurrency, and they allow you to view how many tokens you have available to use. We recommend using Metamask for your NFT.

What role does the custodian play? (e.g. GSG)
A custodial NFT Wallet provides users with secure storage of their sensitive data, including their private keys. Hence, a third party provides your assets with safekeeping.

When will my membership begin?
Once you purchase the NFT, we will take you on our members onboarding process, after which, your membership starts immediately.
 
Can I transfer my NFT anytime?
Not until 8 June 2023. Until that time your NFT will be held in a custodian account managed by GSG. Then yes, at anytime.
 
How do I sell my membership NFT?
You will be able to start to transfer/sell your membership after 8 June 2023. When you are ready to sell your membership, you will need to send a request to our custodian partner GSG, who will facilitate the transfer process.
 
Can I buy and sell my membership NFT on any marketplace?
We will advise at a future date regarding the ability to sell the NFT on a marketplace.

CONTACT US

Email: Gus, Community Manager