VCR Group, the hospitality company founded by the entrepreneur Gary Vaynerchuk, has announced the token sale of his latest private dining club for members in New York City, called Flyfish Club. Future seafood diners must purchase their membership on the blockchain, sold as a non-fungible token (NFT).
Flyfish Club (FFC) is the world’s first member’s only private dining club where membership is purchased on the blockchain as a Non-Fungible-Token (NFT) and owned by the token-holder to gain access to our restaurant and various culinary, cultural and social experiences.
– Flyfish Club (@Flyfishclub) January 12, 2022
Flyfish Club (FFC) is the world’s first private dining club for members, in which membership is acquired on the blockchain as a non-fungible token (NFT) and owned by the token holder to gain access to our restaurant now diverse culinary, cultural and social experiences.
VCR Group answered the question “Why NFT?” on the Flyfish Club website, stating:
“By using the NFTs, the FFC is able to create a community of loyal members to whom we can offer special experiences. The NFTs create new modernist financial models, which will allow the FFC to offer an exceptional and sustainable product for years to come.”
It seems that there are two types of membership available on the official website. The normal tier claims to give members access to the main dining room, outdoor space and cocktail room, as well as special events, for 2.5 Ether (ETH), or $ 8,474 at the time of writing. The second, more expensive tier, Flyfish Omakase, will give access to all of the above and a 14-seat omakase room, and is now available for 4.25 ETH or $ 14,400.
According to their website, Flyfish Membership NFT holders can rent their token to non-token holders on a monthly basis, or they can resell it. There are also no recurring annual fees. And even though cryptocurrency is required to acquire membership, customers can pay for their food and beverages in US dollars.
Flyfish Club is VCR Group’s second concept, following the opening of the omakase-style Japanese restaurant Ito, which is also located in New York City but is not exclusively for members. Flyfish Club is scheduled to open in early 2023.
Flyfish Club Claims to Be NFT’s First Members-Only Restaurant; However, it is not the first culinary concept to integrate cryptocurrencies into its business model. Most recently, the Crypto Street Restaurant opened in Clearwater, Florida, featuring crypto-themed wall art, menu items, and accepting cryptocurrency payments.