Cryptocurrencies are all the rage right now and it’s no wonder why. With their decentralized nature, digital coins offer an alternative to cash or debit or credit card, which can be used at any time without worrying about being declined or denied by merchant outlets.
The restaurant in Long Beach, California, is the first to take digital currencies. While the prospect seems enticing, the restaurant may have been ahead of its time in integrating cryptocurrency into its system.
When Bored & Hungry opened its doors in April, it was an effort to pioneer the crypto sector within the restaurant industry. However, with recent market crashes proving major obstacles for them, they are finding it difficult to get by on crypto alone.
The restaurant’s return to cryptocurrency is still up in the air, but for now it only accepts payments in cash.
Andy Nguyen, the founder of Bored & Hungry was inspired by what he saw when acquiring four NFTs from The Bored Ape Yacht Club collection.
“We spent a little over $267,000 on the main ape, which is the one with our logo,” said Nguyen. “On the mutant apes, we spent between $65,000 and $75,000 each.”
Initially starting as a temporary business for 90 days, Bored & Hungry became an instant success, and Nguyen decided to make it permanent.
The restaurant has a large and varied menu that includes traditional burgers made from beef, as well as vegan options for those practicing the lifestyle.
The restaurant used all of the aesthetics that are present in today’s crypto world, from wall decor to tableware. It also displayed prices for both US dollar payments and cryptocurrency transactions.
The restaurant has struggled to find its footing since the crypto market crash in May. As a result, all prices are listed USD only and it’s uncertain when or if they’ll accept cryptocurrencies again, as revealed by an anonymous Bored & Hungry employee.
The unpredictable nature of the market means it’s hard to anticipate when Bored & Hungry will return to crypto as a form or currency.
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