Off the Menu: Fast food chain raising capital with NFT sales – MassLive.com

off-the-menu:-fast-food-chain-raising-capital-with-nft-sales-–-masslive.com

Chick’nCone

Chicken in a waffle cone is one of the menu items at Chick’nCone restaurants.

NFTs (nonfungible tokens), the blockchain-secured digital images that can be bought and sold online, have come into the world of restaurant financing.

As reported by “Restaurant Business,” an industry news magazine, Florida-based Chick’nCone is raising capital for expansion by selling “Chick’nCoins” at $14,500 each. The coins are NFTs, each of which represents a market area in the U.S. If a Chick’nCone franchise for a particular market area is sold to someone who subsequently develops a Chick’nCone restaurant, the NFT coin owner for that market gets half of the chain’s $45,000 franchise fee and 2% of restaurant sales from that market for six years.

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