Chad is an absolute pioneer when it comes to cryptocurrency and NFTs in the restaurant space. In this episode, he takes the time to break down the basics of the blockchain, crypto and NFTs, how restaurants can capitalize, and what the future looks like in this space. It's a brave new world and Chad's company Devour is one you'll hear about more and more. Chad has spent his entire career in the restaurant technology sector. He and his fellow co-founders at Devour began paying attention to blockchain, crypto and NFTs in the restaurant space in 2020. With non-fungible tokens (NFTs), one is different from the other. That means they can have different utility, value, etc. We’re currently at the early phase of NFTs becoming mainstream and delivering various benefits. People assigned value to NFTs because they were a new thing, but then they realized that there was a status associated with owning an NFT. For restaurants, some NFTs are focused on utility. Gary Vaynerchuk’s restaurant, Flyfish Club, is billed as “the world’s first NFT restaurant, and uses NFTs to give token-holders access to the restaurant. NFTs are the most useful technology for restaurants right now. Crypto is less useful because it doesn’t solve a current problem for restaurants. Restaurants can give away NFTs, make customers earn the NFT or sell the NFT. NFTs can be used by restaurants to give token-holders exclusive access to various menu items. The metaverse is an online space that utilizes the fundamentals of the blockchain. It can incorporate cryptocurrency or NFTs. There’s not much use right now for restaurants in the metaverse. The keys for widespread NFT adoption and understanding are increased use in gaming and increased use by big brands. Quotes “I like to put (blockchain) in really simple terms. It’s a kind of database. A database that’s very, very difficult or near impossible to hack. All the information is there, it’s secure and it’s visible to everybody.” - Chad “NFTs really started to come onto the scene in 2019, and 2021 was an insane year for them and 2022 will be even bigger.” - Chad “There’s a lot of value that can be assigned to NFTs to unlock real world experiences. So NFTs are the very first thing that restaurants can get a ton of value and utility out of.” - Chad “Because NFTs are registered on the blockchain, the blockchain essentially serves as verification of authenticity. So when someone shows their NFT, there’s gotta be a way for the restaurant to ensure that that NFT is, in fact, registered on the blockchain and is an authentic NFT.” - Joseph “You can’t get a burger in the metaverse, but you can create a virtual restaurant.” - Chad “If there’s going to be a team that’s going to help restaurants navigate this crazy, always-evolving world well, it’s going to be (Devour).” - Chad Transcript 00:00.00 vigorbranding Hey, everyone today I'm joined by my friend Chad Horn he is the co-founder of devour which is a lovely word and a lovely name. Um, we are going to get into the nitty-gritty of devour but also everything that they're touching on right now. I'm really excited about this episode. Um, but before we hop in chat say hello give a little bit of backstory. 00:17.10 Chad Horn _ Devour Hello Joseph first. Thank you for having me on your program this morning a quick backstory on me is I've done my whole career virtually in the restaurant technology sector so you know that's where I fell in love with restaurants. Restaurant people restaurant companies anybody helping out restaurants and I also have been in partnerships roles. So it's been very active in forming collaborations with other companies and figuring out how to work together to serve the space. Um, so that's that's me in a quick quick. Yeah. 00:52.75 vigorbranding I Love it. So like I said we're gonna hop in to devour and and for those that don't know um you will find out but a very high level is you guys are p