Photo courtesy of Recours 4 Kenya
Gary Vaynerchuk, co-founder of Resy and Empathy Wines amongst other notable ventures, and the VCR Group, a hospitality company that blends old-world hospitality with modern-day technology, have announced that they will be launching the first NFT restaurant in New York City in fall of next year.
Vaynerchuk, aside from his hospitality undertakings, has become one of the leading figures in the NFT market. In addition to teaching early investors and collectors, Vaynerchuk also created Vee Friends – a series of NFTs that come with added benefits such as one-on-one meetings and exclusive in-person events. Vee Friends made $51 million in upfront sales and over $31 million in secondary sales since its release.
Now, Vaynerchuk is embarking on a groundbreaking endeavour. Restaurant access will be contingent on membership, that can only be secured with NFTs that can be owned and transferred. With said membership, diners will be able to enjoy the establishment’s additional benefits including cocktail lounges, private culinary experiences, and NFT tokens.
The 3 tokens associated with the restaurant reportedly each represent a multitude of experiences. Based on the tokens chosen, diners will gain access to varying experiences and be able to sell them on the secondary market, since they exist as an asset on the blockchain.
The significance of this project is evident. In accordance with the VCR Group’s mission, the restaurant will fuse together “old-fashioned hospitality” with the most up-to-date technology. According to Vaynerchuk, “the punchline is a very modern restaurant where the token is access to the membership and your table.” What experts have highlighted is the importance of the venture’s value proposition – where you can actually make a profit from eating at a restaurant for the first time ever. This is even more true if you choose to HODL your tokens. Vaynerchuk explains that people who own the NFT should eat there 4-5 times in order to sell the token for considerable profits.
NFT Restaurant to Open in NYC In Fall of 2022
Gary Vaynerchuk, co-founder of Resy and Empathy Wines amongst other notable ventures, and the VCR Group, a hospitality company that blends old-world hospitality with modern-day technology, have announced that they will be launching the first NFT restaurant in New York City in fall of next year.
Vaynerchuk, aside from his hospitality undertakings, has become one of the leading figures in the NFT market. In addition to teaching early investors and collectors, Vaynerchuk also created Vee Friends – a series of NFTs that come with added benefits such as one-on-one meetings and exclusive in-person events. Vee Friends made $51 million in upfront sales and over $31 million in secondary sales since its release.
Now, Vaynerchuk is embarking on a groundbreaking endeavour. Restaurant access will be contingent on membership, that can only be secured with NFTs that can be owned and transferred. With said membership, diners will be able to enjoy the establishment’s additional benefits including cocktail lounges, private culinary experiences, and NFT tokens.
The 3 tokens associated with the restaurant reportedly each represent a multitude of experiences. Based on the tokens chosen, diners will gain access to varying experiences and be able to sell them on the secondary market, since they exist as an asset on the blockchain.
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