Global restaurant brand Chotto Matte is selling a one-off NFT that will cost US$1 million but grants the owner ‘exclusive and phenomenal benefits’. Jenny Southan reports
Founded in 2013 by restaurateur Kurt Zdesar, Chotto Matte has restaurants in locations including Miami, Toronto and London. Now, the entreprenuer is selling a unique NFT that “allows the owner the access and lifestyle, uniquely enjoyed by founder Kurt Zdesar”.
Confused? It is pretty weird… Firstly, you need to understand that NFT (non-fungible tokens) only exist in the digital world and are closely related to cryptocurrencies and the metaverse. According to Wikipedia, NFTs are “a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded”.
Whoever buys the Chotto Matte NFT will receive “exclusive and phenomenal benefits” such as being invited to all future restaurant openings in the likes of London Marylebone (opening April 2022), Doha, Riyadh, Los Angeles and San Francisco.
So in essence, it’s a way of creating an exclusive membership club for one, and pulling in US$1 million in cash for the company. Clever.
The Founder will be stored a Chotto Matte–branded digital wallet that the owner will be able to access through a portal containing the list of their perks.
When the owner wants to redeem a perk, they click on the event, and a team member from Chotto Matte will reach out to them to co-ordinate. There will only be one Founder NFT produced, and it is currently the only Chotto Matte membership available, adding to its exclusivity.
However, as Zdesar explains: “This exclusive membership represents our first, but not our last, leap into the metaverse.”
Other benefits The Founder offers is invites to major sporting event such as F1, and a Chotto At Home experience with the group executive chef, anywhere in the world. The NFT will be made available for purchase on April 5, 2022, for US$1 million US dollars on Open Sea (the world’s largest NFT marketplace).
Chotto Matte will host an event in Miami, during the NFT and Bitcoin Conference, CryptoWorldCon. There will be live performances at the Miami site with bitcoin and crypto inspired costumes, on the day of the launch of the NFT, April 5th.
During that week, Chotto Matte Miami will also offer exclusive meals available to purchase exclusively in bitcoin.
“Innovation is a pillar of the Chotto Matte brand; from the menu to design, we always aim to push the boundaries,” says Zdesar. “After great successes in the US, Europe and Canada, the crypto space is another market I want to explore. It’s the future and there is so much yet to be done.”