Gary Vaynerchuk's NFT restaurant Flyfish Club sold out all non-fungible tokens (NFTs) for a total sum of $26.5 million. Flyfish Club is a New York-based restaurant where only holders of Flyfish Club NFTs can make reservations.
To make a reservation, members will need to connect their cryptocurrency wallet with a token from the restaurant to verify ownership. Non-members will only have access to the restaurant if they are a guest of a token holder.
Owners of the NFTs can lease or resell the tokens. While the restaurant is mainly available only for NFT holders, all payments will be in USD, not cryptocurrency.
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And it seems the initiative has already paid off as the restaurant sold out all the Flyfish Membership tokens (2650 copies) at 2.5 ETH per NFT, and all the Flyfish Omakase Membership tokens (385 copies) at 4.25 ETH per NFT.
Different NFTs give different access to the restaurant and cocktail lounge. For example, Flyfish Omakase tokens give an extra option of access to the so-called omakase room. The Flyfish Club is set to open in New York City in 2023.