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  • Tatler Malaysia

    Let Them Eat Crypto

    Jun 03, 2022 5 minutes
    By Gavin Yeung

    You would be forgiven for thinking that, between menu-planning and navigating supply chain issues, staff shortages and ever-changing pandemic regulations, the world’s chefs and restaurateurs would be too busy to wrap their heads around DAOs, cryptocurrency and the metaverse. But a motley crew of celebrity chefs and food-obsessed crypto dudes are leveraging the power of NFTs (non-fungible tokens) to create new ways of experiencing the joys of dining out.

    For the uninitiated, NFTs are one-of-a-kind digital assets that are “minted”, or published, on blockchain networks like Bitcoin, Ethereum or Solana, and ascribed a unique identity. It’s this manufactured scarcity that allows creators of NFTs to use the technology for access tokens, event tickets or even a loyalty programme.

    In the food world, for example, “a speakeasy could offer an exclusive members-only lounge to its NFT holders, a bakery can allow its NFT holders to redeem exclusive products”,

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