From a butcher to an NFT restaurant - check out AD Butcher & SteakAMY EZREEN
Technology, as we know it, has seeped into all aspects of our lives - including food.
Large companies are reaping the benefits of non-fungible tokens (NFTs) and now food has also penetrated the metaverse.
While its still in its early stages, there are some NFT concept restaurants available in Malaysia too, such as AD Butcher & Steak located in Bukit Jelutong, Shah Alam.
What began as a butcher, now stands tall as a a butcher and NFT restaurant.
In 2020, the restaurant’s founder Adnan and marketing manager Omar made the leap into the digital realm to establish its own web store in order to speed booking process, provide menu views and written content on steak.
When the concept of the metaverse gained prominence, Omar observed a significant gap between the real world and the digital realm.
He came to the realization that he could create a ‘foodverse’ by connecting NFTs to both universes.
If you don’t already know, NFT is a digital asset that simulates real-world products including music, art, film and in-game stuff.
So how is NFT incorporated into this restaurant?
Omar was convinced that NFTs could help to increase customer acquisition and retain existing ones through a loyalty programme.
To kick things off, they partnered with Pentas.io a homegrown NFT marketplace but they now have seven other partners too.
A dine-to-earn concept is employed whereby the NFTs function as a rewards system.
Simply put, when customers dine in, they are entitled to an NFT. However, this collection is unavailable for direct purchase from AD Butcher & Steak.
After receiving the NFT, the restaurant presents two options for customers - they can either keep the NFT and continue earning NFTs when they dine in, spending the reward on their eigth visit or they can choose to sell the NFT to another user on Pentas.io to gain profit.
To make make things even more exciting, customers are entitled to a 15 per cent discount on the total menu price.
More perks awaits if customers dine-in multiple times at the restaurant.