Restaurants are jumping on board the latest tech trend: NFTs (non-fungible tokens). NFTs are digital items that can be purchased or sold, with ownership tracked using blockchain technology. NFTs can take the form of gifs, videos, images, songs, or video game collectibles. Currently, NFTs are centered around the trade of collectibles such as the NBA Top Shot card. Each token is unique and irreplaceable.
Fast food brands such as Burger King and McDonald’s have developed NFTs, allowing customers to scan QR codes and receive game pieces, collectibles, or coupons through an app-based loyalty program.
Companies like Pringles, Pizza Hut, and Kellogg’s have also joined the trend, offering digital artworks like spinning gold Pringles can gifts or virtual pizza slices as ways to a marketing strategy towards crypto-hungry Gen Z’ers and millennials. Others like Dole Sunshine and Procter & Gamble created and sold NFTs with proceeds benefiting charity.
VCR Group, an innovative restaurant group self-described as “combining old-world hospitality with modern-day technology” will be opening the world’s first NFT restaurant in NYC. Opening in 2023, the Flyfish Club (FFC) will be a members-only private dining club requiring membership purchased as an NFT. The company is founded by Gary Vaynerchuk, Josh Capon, and David Rodolitz.