Flyfish Club (FFC), a New York based restaurant has announced it aims to become the first NFT-backed members-only private dining club. The seafood restaurant requires prospective diners to purchase a membership, represented by an NFT, to dine.
Those wanting to mix bass and blockchain can choose from two tokens. The Flyfish token, offered at 2.5 Eth, gives holders access to events and pop-ups (both in person and virtual), an outdoor lounge, the cocktail lounge as well as the main dining room.
The Flyfish Omakase token, sold at 4.25 Eth, entitles holders to the same benefits as well as access to dine in an exclusive 14-person Omakase room. 2,650 Flyfish tokens and 385 Flyfish Omakase tokens were made available in three separate releases and sold for a total of USD$14M.
The first release was a private invite-only pre-sale, while the second and third releases were for the general public. Flyfish explain their experiment as follows:
As an NFT, the membership becomes an asset to the token holder, which can later be sold, transferred or leased to others on the secondary market. By utilizing NFT's, FFC is able to create a loyal, member-community that we can provide special experiences for. NFT's create new modernistic financial models, which will allow FFC to deliver an exceptional and sustainable product for years to come.
Those with one of the tokens will have to verify ownership before being able to make a reservation at FFC. While a token is needed to make a reservation, patrons can pay with USD once in the restaurant, which is set to open Q1/Q2 2023.
Although the tokens are sold out on the FFC website, tokens can be leased or sold on the secondary market. Token holding entitles patrons unlimited use of the FFC facilities and allows for one non-token holder to participate so long as they are accompanied by a token-holder.
The membership opportunities for NFT holders to interact as part of an exclusive club are only just starting and more experiments of this kind are sure to come.