Flyfish Club (FFC), the world’s first NFT restaurant and food group, will open its doors in New York City early next year.
The VCR Group restaurant group has created the world's first NFT restaurant, called Flyfish Club (FFC). The idea was born to give VCR Group customers exclusive access to unique and innovative high-end experiences, which will revolutionize the world of catering through new technologies.
Until now, the concept of NFTs has been widely adopted in the world of art, collecting and video games. However, thanks to constant technological evolution and innovation, other industries such as fashion, design and, now, catering, are joining the adoption of NFTs. The particular characteristics of these tokens make NFTs crucial digital assets to add value to users in an exclusive way. In addition, they help companies discover new ways to raise funding.
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What is Flyfish Club (FFC)?
Flyfish Club is a restaurant and gastronomic club that offers exclusive access to different culinary, social and cultural spaces, products and services through NFTs.
In her web portalVCR Group founders Gary Vaynerchuk, David Rodolitz, and Josh Capon explain that Flyfish Club is the only private dining club in the world that users can access through a blockchain-based membership. Flyfish Club NFTs provide holders with unlimited access to a private restaurant that will span over 10.000 square feet (ft2), equivalent to approximately 930 square meters (m2), in an iconic location in the famous New York City.
According to the report, Flyfish Club will be made up of different spaces, ranging from a cocktail lounge and an exclusive restaurant, to an intimate omakase room and an outdoor space. Members of this restaurant will be able to taste exquisite dishes made with fresh ingredients of the highest quality, focusing on Nikkei cuisine. The dishes can be paid for in dollars and not in cryptocurrencies.
More than $21 million traded on Opensea
The new restaurant and dining club will open its doors to its exclusive members in early 2023. However, to date it has generated a volume of 7.000 ethers, about $21,7 million, through the sale of NFTs on the Opensea marketplace. Within the first minute, Flyfish Club managed to reach 1.000 memberships sold as NFTs for more than $14 million.
The minimum price of Flyfish Club membership NFTs is 4,48 ether; about $13.900 at the time of writing. There are currently 1.300 NFT token holders and thus exclusive members of the restaurant and dining club. VCR Group also offered 14 exclusive NFT tokens that offer VIP access to Flyfish Club. These NFTs are valued at almost $30.000 each.
New forms of financing through NFTs
David Rodolitz, CEO of VCR Group, noted that NFTs have opened up new ways to attract funding for project development. During an interview on Yahoo Finance, Rodolitz specified that for Flyfish Club, NFTs have created a completely new revenue model, where investors can maintain complete control and ownership over their investments, while providing access to new resources. The CEO of VCR Group also highlighted that this revenue model is something completely new in the restaurant world to access funding in a sustainable and scalable way.
Exclusive Flyfish Club members can benefit from digital ownership to access liquidity almost immediately, through renting or selling NFTs.
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