A new way of attracting customer loyalty to restaurants is here – and it of course involves the ultra-trendy NFTs.
Non-fungible tokens have soared in popularity, with people buying virtual art, property, and now virtual food.
In the UAE, at least two ventures, Goi Rolls and chef Alexandros Sperxos, have begun selling NFTs of food. What do they get in exchange? Customer loyalty.
Purchasing an NFT of a sushi roll from Goi Rolls or grabbing a digital version of Sperxos’ glow in the dark dishes will earn owners awards in the physical world.
“When you buy one, half of the value that you pay for it, you get back in food,” said Hayder Nashie, General Manager of Goi Rolls.
In other cultural capitals, like New York, a restaurant is marketing NFTs that solely gain holders entrance to an exclusive restaurant. Some of those NFTs sold on secondhand markets for upwards of $13,000, and access to a more exclusive room within the restaurant can be granted for close to $30,000. That price doesn’t include the price of food once through the door.
This new brand of dining, web3 dining, is just beginning to take traction and only a handful of restaurants globally have gotten onboard. Nashie said Goi Rolls was the first in Dubai to buy in to the concept.
When asked if this is ultimately a new marketing ploy, Nashie said admitted in a way, yes.
“It is. In this case, it is, because it’s a way of publicising your food, but it’s also a utility, so you’re giving value back to the purchaser,” he said.
Marketing strategy or no, people are spending massive amounts of money on virtual assets, and buying an NFT of a sushi roll at least earns owners tangible rewards as well.
“It’s a new marketplace. It’s a different way of engaging with your customers,” Nashie said.
Goi Rolls NFTs are sold on the OpenSea marketplace, the largest hub to buy and sell NFTs, and the virtual sushi rolls can be bought with Ethereum. One is listed for ETH0.0221, or $52.52 at the current rate, noting that cryptocurrency prices tumbled on Thursday afternoon.
