Blackbird, The Crypto Restaurant App, Raises $24 Million in Funding Led by A16z
Blackbird Labs is an app that aims to connect restaurants with their customers through its blockchain-based app. The company announced Wednesday that it has raised $24 million in a Series A funding round led by venture capital firm Andreessen Horowitz.
Customers touch their phone to an NFC reader, a device that allows smartphones to connect to payment readers to create a membership. The NFT is minted once users “get in” at the restaurant.
A press release states that Blackbird memberships offer rewards and exclusive perks, such as: B. SMS concierge and off-menu dishes.
The project is gaining a lot of attention, in part because its CEO, Ben Leventhal (co-founder of Resy), is one of the co-founders. This week, the New York Times published an article about Blackbird that did not mention the word “crypto.”
Flypaper and $FLY tokens
Behind the scenes, however, lies a blockchain infrastructure and a decentralized ethos. Guests can also earn fungible $FLY tokens, and there is a link to a “flypaper” on Blackbird’s website that explains the mechanics.
The paper states: “Blackbird is the first decentralized platform designed specifically for the hospitality industry.” The paper states: “Unlike traditional rewards markets that neuter and lock accumulated points in place, “The Blackbird Protocol will eventually allow users to take their points anywhere on public blockchains.”
Founded just a few weeks ago, Blackbird has already signed up 80 restaurants across New York City.
Arianna Simpson is the general partner of a16z Crypto. She said: “Web3 enables restaurants and their guests to connect with each other in new and powerful ways, making every dining experience more meaningful and unique.”
The move comes after a number of companies tried reward-based systems via NFTs but have struggled to maintain consistent usage.
