An immigrant from Belarus will open the world's first NFT restaurant in New York: what kind of establishment it is

NFTs are everywhere! They are nowhere! This is art? Is this a product of the future? Are they proof that we have all lost the collective mind? The $69 million Beeple was sold at Christie's last year; Jack Dorsey sold NFT from the first tweet. Martha Stewart took part in this. So did Edward Snowden, Melania Trump, NBA, MFDOOM and Associated Press. It was only a matter of time before this digital sensation hit restaurants. And now the moment has come, says Grub street.

NFT guru Gary Vaynerchuk and his hotel company VCR Group announced that they will open what they call "the first NFT restaurant" and it will be right here in New York. What does this mean? What is the reason? What are we talking about right now? Good questions! And we have the answers!

What is the "world's first NFT restaurant"?
According to their own marketing materials, a restaurant will be called Flyfish Club. It will be a member-only restaurant. Membership is NFT. It will be paid with cryptocurrency.

Remind me again what is NFT?
NFT is a non-fungible token.

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This means that mushrooms will not be served in the restaurant.
No, a non-fungible token is a unique digital asset stored cryptographically on the blockchain.

How to decipher all this.
This is a computer piece that cannot be copied.

So, to go to this restaurant, you need to buy one of these NFTs.
Yes, definitely.

This is membership.
Something like that. NFT is asset... You can sell or transfer it. There is a leasing mechanism whereby a token holder can lease his token to a non-token holder on a monthly basis. There is even, as explained on the Flyfish Club website, a "potential passive income strategy" that could exist here. " However, this largely depends on having a steady stream of potential visitors eager to temporarily access your membership, so it is “potential”.

But this is just a restaurant.
Definitely not. It will have a cocktail lounge, an upscale seafood restaurant, a omakase (reserved for top-level members only) and more than 930 square meters of outdoor space “in an iconic New York location,” although this location has yet to be announced.

Is it a metaverse object or will it exist physically?
Flyfish Club is slated to open (in a real location) sometime in the first half of 2023.

And will he have real food?
The food will be real, yes.

And will I pay for it with cryptocurrency?
No. you pay for membership cryptocurrency. you pay for food paper currency.

What will be the food there?
Seafood.

To be honest, after these last few years, I wish I had a membership somewhere - anywhere! How much will it cost me?
Well, it's tricky. When the company issued 7 tokens on January 1151, a regular membership, allowing access to the lounge and high-end seafood restaurant, cost 2,5 ETH (about $ 7900). Although membership in omakase, which includes access to reservations in the 14-seat hall omakase, where an as-yet-unnamed sushi master will cook you freshly arrived fish from Japan, cost 4,25 ETH (approximately $13).

Oh my God!
On OpenSea, which you can think of as eBay's NFT, a standard membership currently costs somewhere around 3,4 ETH, or (at the time of this writing, at 9:23 am on January 12th) $ 11.

I don't think I have $11 just to buy the ability to go to a certain restaurant that hasn't opened yet.
Don't worry - not everything is known for sure. By next week it may be even more expensive or, on the contrary, more profitable!

But will it open?
Probably!

And would that be a good development?
Think of it this way: if the Flyfish Club does open on schedule sometime in the first half of 2023, it will mean that we are all survived until 2023. At the moment, this is at least one hope.