A new financial model will follow in the world of the food and beverage industry, it is Blockchain Technology, Cryptocurrencies, and Non-fungible Assets (NFT).
Two New York-based restaurant groups are raising funds through NFT tokens, which are usually associated with pieces of digital art.
Membership in House Chop Brooklyn, which was bought in cryptocurrency Ethereum, ranges from $8000 to $1 million. But $1 million in non-fungible NFT tokens will come with a quarter percent of ownership in the restaurant.
Stratis Morphogene, COO of Brooklyn Chophouse, said:
“The NFT market started with art and music, and it wasn’t designed by
For restaurants, so we are changing that and creating a digital version of a private club like Soho’s house in Metaverse but in Times Square.”
The news comes on the heels of reports last month that businessman Vaynerchuk Gary wants to open Club Flyfish. The club has been described as the first private dining, especially seafood club in the NFT world, and hasn’t even signed up. Lease, not due to open until next year – yet it made over $14 million through NFT sales
Both groups will use Ethereum as well as non-fungible NFT tokens.
“There is a huge community of crypto-millionaires who are just communicating with each other, many of whom are trading NFTs out of their bedrooms, buying things in metaverses,” Morfogen said. We give them a place to gather, we take the best out of them.”
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