Lots of people would like to walk into a restaurant and get VIP treatment. But is it worth paying $1 million for?
We’re about to find out. That’s because a restaurant group called Chotto Matte is going to offer up a $1 million NFT to a bidder to get a singular NFT called The Founder.
According to the release, The Founder “collectible chip card grants exclusive membership access with an array of bespoke benefits, redeemable all over the world and ranging from personal invitations to every Chotto Matte restaurant opening around the world, plus first-class flights and five-star accommodations to major sports event tickets for two people per year (FIFA, F1, boxing, etc.); and more! “
A few months ago, the folks behind Flyfish Club launched a successful NFT campaign that drew thousands of bidders to buy NFTs that granted them membership to a new restaurant backed by social media influencer and entrepreneur Gary Vaynerchuk. At the time, I suggested that Flyfish’s success might influence other restauranteurs to jump into the NFT game, perhaps modeling their NFTs on the membership model designed by the group.
From the looks of it, Chotto Matte is not modeling their NFT on Flyfish, but instead hoping for a big “fish” to drop a million bucks to gain VIP access to benefits at the Chotto Matte restaurant. It’s a riskier strategy since there’s a high probability they don’t find anyone willing to part ways with a million bucks for this NFT.
Don’t get me wrong. Exclusive membership benefits that offer true real-world utility are an absolute must for any restaurant going down the NFT route. I just don’t know if VIP treatment at Chotto Matte is enough to convince someone to part ways with that kind of money.
Either way, we should know soon. The company plans to launch its NFT via a special launch event on April 5th at NFT week in Miami.
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