'Chick'nCone,' the Pennsylvania-based fast-food chain famous for its fried chicken foods stuffed into an ice cream cone, has launched 'Chick'nCoin,' a new set of premium NFTs. The Chick'nCoin NFTs will cost approximately $14,500 USD, and will be tied to a large financial portion of the company. Users who purchase a Chick'nCoin will be assigned a geographical region of the United States. Then, if any new Chick'nCone locations open in this region, the associated NFT owner will be given half of the initial franchise fee as well as 2% royalty on sales.
At a $14,500 USD pricetag, the Chick'nCoins are a steep investment. However, these NFTs boast the potential to pay back an extremely high amount of capital. For example, the franchise fee for one location is $45,000 USD, meaning the NFT will more than pay itself back after one new location. On top of this, the NFT owner will continue to generate a large income from this NFT on a monthly basis.
Restaurant-Owned NFTs
Chick'nCone Announced Chick'nCoin as a Luxury Loyalty Service for Customers
Trend Themes
1. Restaurant Nfts - The use of NFTs by restaurants to offer luxury loyalty services presents a disruptive innovation opportunity for the restaurant industry.
2. Geographical-based Nfts - The creation of geographically-based NFTs that offer financial incentives presents a disruptive innovation opportunity for the NFT industry.
3. Franchise-based Nfts - The use of NFTs tied to franchise fees and sales royalties presents a disruptive innovation opportunity for the franchise industry.
Industry Implications
1. Food and Beverage Industry - Restaurants can use NFTs as a luxury loyalty service to incentivize customers and potentially generate a new revenue stream.
2. Blockchain and Cryptocurrency Industry - The use of NFTs tied to financial incentives presents a new application for blockchain technology and represents an innovative opportunity for the industry.
3. Franchise Industry - The use of NFTs tied to franchise fees and sales royalties presents a new way for franchise owners to finance their business and generate revenue.