VCR Group, the hospitality company founded by entrepreneur Gary Vaynerchuk, has announced its live token sale at Flyfish Club, New York City’s newest membership-only private dining club. Potential seafood restaurant customers must purchase their membership on the blockchain, which is sold as a non-fungible token (NFT).
Flyfish Club (FFC) is the world’s first member-only private dining club where members are purchased on the blockchain in non-fungible tokens (NFTs) and owned by token holders to access our restaurants and various culinary, cultural and social experiences.
— Flying Fish Club (@Flyfishclub) January 12, 2022
VCR Group answer The question “Why NFTs?” on the Flying Fish Club website states:
“By leveraging NFTs, FFCs are able to create a loyal community of members for whom we can offer exceptional experiences. NFTs create new modern financial models that will enable FFCs to offer exceptional and sustainable products for years to come. ”
There seem to be two types of memberships on the official website. The regular tier claims to give members access to the main dining room, outdoor space and cocktail lounge, as well as 2.5 Ether (Ethereum), or $8,474 at the time of writing. The second, more expensive tier – Flyfish Omakase – will grant access to all of the aforementioned facilities as well as a 14-seater omakase room, available now for 4.25 ETH or $14,400.
According to its website, Flyfish Membership NFT holders can rent out their tokens to non-token holders on a monthly basis or resell them. There are also no recurring annual fees. Although cryptocurrency is required for membership, customers can pay for their food and beverages in U.S. dollars.
Flyfish Club is the VCR Group’s second concept after omakase-style Japanese restaurant Ito, also in New York City, but not members-only. The Flying Fish Club is scheduled to open in early 2023.
Flyfish Club claims to be the first membership-only NFT restaurant; however, this is not the first culinary concept to incorporate crypto into its business model. recent, Crypto Street restaurant opens in Clearwater, FL with crypto-themed wall art, menu items and accept crypto payments.