Lengthy Seaside’s NFT-Themed Restaurant Nonetheless Accepts Crypto For Now

Lengthy Seaside’s NFT-Themed Restaurant Nonetheless Accepts Crypto For Now

“Crypto winter” is perhaps coming, however the founders of restaurant group NFT Meals Fighters Universe are staring the storm within the face and boldly claiming that now’s the time to double down on digital belongings.


Billing itself as the primary NFT-themed restaurant group, Meals Fighters Universe was began simply 4 months in the past by co-founders Andy Nguyen, COO Phillip Huynh, and “chief megaphone” Kevin Search engine optimisation.

Lengthy Seaside’s Bored & Hungry restaurant nonetheless accepts cryptocurrency, regardless of a latest Los Angeles Occasions article wherein a reporter described his go to to the location and stated workers didn’t settle for Ethereum or ApeCoin, the cryptocurrency linked to Bored Ape Yacht. Membership. Nguyen and Search engine optimisation informed dot.LA that the reporter visited the shop when their programs have been quickly shut down for upkeep, they usually stated they nonetheless settle for cryptocurrencies as cost.

“It was timing and miscommunication,” Search engine optimisation stated. “[The LA Times] It occurred after we have been in New York doing an activation with Bored & Hungry and we have been accepting crypto funds in New York and there was a glitch on the west coast that we have been unaware of.”

“The most effective time to just accept crypto is in a bear market, that is while you take advantage of cash,” stated Nguyen, a restaurateur finest identified for his involvement with the Los Angeles chain Afters Ice Cream.

Search engine optimisation informed dot.LA that the restaurant plans to just accept extra types of crypto as cost within the coming months. And whereas the co-founders did not disclose the restaurant’s income, Search engine optimisation famous that they’d plans to open a second Bored & Hungry location in Seoul, South Korea, this fall; the primary worldwide enlargement of the shop.

It is vital to notice that accepting crypto is not the one factor that makes Bored & Hungry a web3-adjacent firm: the restaurant’s theme is predicated on the Bored Ape Yacht Membership, the controversial assortment of NFTs run by Yuga Labs.

Celebrities similar to Paris Hilton, Jimmy Fallon, Tom Brady and Seth Inexperienced have brazenly endorsed the apes, whereas critics (similar to net designer and Azaelia Banks’ ex-boyfriend Ryder Ripps) declare the undertaking is rooted in racism or nazi iconography – one thing Yuga Labs CEO Nicole Muniz strongly denies.

“I believe it is simply that he stated, she stated, folks examine,” Nguyen stated when requested in regards to the allegations. “[Bored Ape] It is the most well-liked model on the market, it’s what it’s.”

In creating the restaurant, Nguyen needed to meet the founders of Bored Ape and spoke to one in every of them (he did not say which one) to get their official endorsement, including, “He did not appear loopy.”

Bored & Hungry is not the one meals model capitalizing on the Bored Ape hype: Bored Breakfast Membership, which isn’t affiliated with Nguyen’s restaurant, launched an NFT espresso subscription in January.

Regardless of the ugly accusations and the approaching collapse of cryptocurrencies, the collection of 1,000 humanoid ape cartoons is arguably the most well-liked NFT model on the market, with gross sales topping $1 billion earlier this 12 months. That is why Nguyen and his staff determined to purchase three Bored Ape NFTs earlier this 12 months for roughly $330,000 and theme their Lengthy Seaside burger joint round that.

However it isn’t a secure asset and the ground worth, and worth of, Bored Ape Yacht Membership NFTs proceed to fluctuate. After peaking at about 149 Ethereum in early Could, the undertaking is now all the way down to 81.75 ETH. Decrypt reported in June that income fell 47%, falling beneath a $100,000 worth ground for the primary time since August 2021.

Nguyen stated that the need to be related to the Bored Ape model was based mostly on its widespread attraction.

“We will be taking pictures for the highest 10 [most] well-liked cash on the market,” Search engine optimisation informed dot.LA, although he acknowledged that the share of people that truly purchase their lunch with cryptocurrencies stays minuscule.

“The adoption will nonetheless take a very long time,” Search engine optimisation stated. “We’re going to proceed selling it, even whether it is used minimally. It isn’t an enormous share of something. Some folks wish to do it and simply having the choice feels good, and we hope that may result in extra adoption.”

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