ShiYun fried chicken restaurant spices up the blockchain with food NFTs
Future. Taipei-based fried chicken restaurant ShiYun minted photos of its food as NFTs… and they got hot, trading for over 350 times their original price. The popularity may be part of a coming wave of token-enabled restaurants using digital scarcity to bring lines around the real block.
One chicken NFT is the gift that keeps on giving. ShiYun owner Jimmy Hsieh minted photos of his fried drumsticks and fried broccoli as NFTs that gave owners the ability to redeem the food item every time they came to the restaurant.
- They were posted at OSD (roughly $1) on the marketplace OurSong… and they quickly shot up to 350 times the asking price.
- When the token is resold, the new owner can start receiving the food item… and ShiYun collects a 10% royalty on the secondary sales.
NFT happy hour
The focus of the ShiYun’s NFTs were not really to hop on the speculative cryptoart train but to encourage repeat business at the physical location. Hsieh said that “even though we’ve been around for 38 years, now people won’t think we’re an outdated business.”
And now other eateries want in on the action. Insider reports that ShiYun is now working with 17 other restaurants in Taiwan’s famous night food markets to launch their own collections, including a token that allows customers to “eat until you’re full” …which sounds great to us at TheFutureParty.