The Rise of NFTs is Restaurants’ Newest Recipe for Success

Chipotle. McDonald’s. Panera. What do these large restaurant chains have in common? Aside from traditionally dominating market share, they have also entered the new digital frontier by embracing the metaverse and non-fungible tokens (NFTs) as a part of their next-gen marketing efforts. The timing couldn’t be better. Kids are soaking up summer break, families are hitting the road, and there’s plenty of free time. This food tech is the perfect attention grabber in a season always ripe for acquiring new customers.

Why Should Your Brand Follow Their Lead?

According to Nation Restaurant’s News, the NFT and metaverse trend will prfoundly  impact the industry’s future. With NFT and metaverse restaurant experiences on the rise — designed especially for connecting with younger demographics — there’s no time like the present to discover their ins and outs.

There is an abundance of benefits restaurants can enjoy with NFTs, including:

  • The ability to offer incentives and boost loyalty programs
  • The means to provide customers with enticing special perks and exclusive experiences
  • An ideal way to merge and enhance seamless encounters virtually and IRL

But it doesn’t end there. Even influential celebrity chefs like Tom Colicchio are getting in on the movement.  His recent collaboration with Top Chef alum Spike Mendelsohn for CHFTY Pizzas made headlines as a new means of building a stronger and larger foodie community.

Making a Mark in the Metaverse

If you’re looking for NFT and metaverse branding best practices, look no further than the restaurants already using this tech successfully. In fall 2021, Chipotle became the first fast-casual chain to launch a virtual restaurant on metaverse gaming platform Roblox. In a mesh of digital and physical, Roblox users earned burritos redeemable through Chipotle’s app and website. Soon after, McDonald’s, Pizza Hut, and Burger King released their own NFT collections. Today, a host of industry players are in on the game, and collectibles are crossing over to capture the interest of a more mainstream audience.

Crafting Creativity and Innovation

First came Chipotle’s virtual restaurant, then came Flyfish Club — a members-only restaurant accessible to consumers with NFTs. While this may seem like an extreme evolution, NFT and crypto-themed restaurants are popping up all over the world, with more emerging all the time. It’s another way that creativity and innovation are driving rejuvenation for an industry that suffered so mightily during the pandemic. This fresh approach allows brands to make a splash with first-time customers while keeping themselves top of mind for repeat customers. It’s an acquisition-loyalty win-win.

In other words, adding NFTs to your tech menu might just mix up a recipe for success you never dreamed possible.