Cryptocurrencies are becoming more popular day by day and many businesses have started integrating them into their system.
A restaurant in Long Beach, California is taking digital currencies to the next level by becoming the first establishment in the industry to accept cryptocurrencies. However, it seems like they were too early for this idea.
Bored & Hungry, the crypto-centric restaurant, opened its doors in April to pioneer a new genre of dining. However, recent market crashes proved challenging for them as they are feeling its effects now.
The future of payment at the restaurant is still up in the air. The last time Bored & Hungry took crypto was before the heavy losses of the crypto market crash, but now all transactions must be made with US dollars again.
The founder of Bored & Hungry, Andy Nguyen decided to create a business with his tokens after acquiring four tokens 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.”
When Bored & Hungry first started, they had a limited time commitment with plans of only standing for 90 days. After the success of their pop-up store though, Nguyen knew that this would not be enough for him so he decided to turn it into something more permanent.
The restaurant has a selection of burgers for everyone, including traditional beef ones and vegan options for those practicing the lifestyle.
Bored & Hungry pays tribute to crypto aesthetics, decorating walls and tableware with Bored Ape NFT art. Despite being a crypto advertised establishment, the restaurant also puts in US dollar prices.
The restaurant has struggled to find its footing since the crypto market crash in May. As a result, Bored & Hungry listed all prices USD during this uncertain time for cryptocurrencies. Nguyen was unable to provide a comment but an anonymous employee shared the restaurant’s uncertainty about a return to crypto payment.