The SHŌ Group is opening a Bay Area restaurant, and it plans to use NFTs. The restaurant named SHŌ, that the Group describes as a “culinary-entertainment and lifestyle” experience, divides NFTs into three categories as membership tokens: Earth, Water and Fire. The holders of the membership tokens will get different gifts, depending on the level of membership:
Earth: Access to a guard who is only a member, including a personal car to pick-up and drop-off
Water: Mastermind groups and exclusively designed omakase and dinners with famous guests.
Fire: Benefits similar to property and one-time travel to Japan.
The benefits are not mutually unique, since holders of a token in a higher membership tier get all the benefits of individuals in the lower levels. All members will have access to a private rooftop lounge and a members-only menu.
The SHŌ Group has decided to build this restaurant on top of the SalesForce Transit Center in San Francisco. Given the restaurant’s location and the use of NFTs, it may come as no surprise that SHŌ has various prominent Silicon Valley sponsors. Funders include SalesForce, Erica and Jeff Lawson of Twilio, Dan Springer (CEO of DocuSign) and Drew Houston (CEO of Dropbox).
Plus the main restaurant, that has a large pit grill for cooking, there will be a sushi lounge and a Japanese retail concept named SHŌ Market. All eateries will be available to the public. As reported, just the private hall needs an NFT membership token.
For those excited in buying an NFT token membership to a restaurant, the SHŌ Group has not yet talked about the time of sale and their cost.
Restaurants capitalizing on NFT Marketing
The BSHŌ Group is not the only team to open a restaurant using NFTs. Actually, over the past few months, NFT restaurants have been launched from coast to coast.
One of the first examples of a restaurant using NFTs was Gary Vaynerchuk’s Flyfish Club. Like SHŌ, the Flyfish Club uses NFTs as membership tokens. There are two levels of membership available for this restaurant, and when the team initially launched the tokens, people bought them for thousands of dollars.
Another man in California profited from his IP Bored Ape rights and opened a hamburger joint featuring his Bored Ape Yacht Club art. The owner called it “Bored and Hungry” and used the art for BAYC # 6184 and his two Mutant Apes.
Eventually, they opened various restaurants and used NFTs to earn money. In general, the utility for token holders was similar to the Flyfish Club and SHŌ: a membership which allowed the token holders to benefits.
Since the use of NFTs is very young, only time will tell if it will succeed. But currently, this is another trend that is growing in the world of Web3.