A major city restaurant creates history with the boldest new payment plan

Rodolitz stated that in order to access his restaurant, scheduled to open in an unidentified address within New York City at some point in the near future, one must buy crypto in order to use Ethereum to purchase his Flyfish Club NFT [non-fungible tokensto gain access to the Flyfish Club NFT.

According to the company's website it states that it is claimed that the Flyfish Club "is the world's first member's only private dining club" which allows membership to be purchased through the blockchain as an NFT and is owned by the token-holder in order to be permitted to use the restaurant. Recently, there was significant increase of NFT sales. The value of all NFT sales during 2021 reached $23 billion, compared to just 100 million in 2020 according to figures published on DappRadar and mentioned by Larry Cheng, managing partner of Volition Capital, a Boston-based growth equity company. NFTs that are driving a frenzy for artists and investors who want to profit from market market that has grown and are digital collectibles which are irreplaceable assets that can be purchased or traded as any other item of property. But, unlike an asset that is tangible, purchasing an NFT is similar to purchasing an encrypted JPEG that you can download to your computer. The majority of NFTs are stored within the Ethereum blockchain, which is the second-largest cryptocurrencyplatform following Bitcoin. The once-exclusive marketfor NFTs has existed since the year 2017 and was not known to the public due to the use of the terminology used for blockchain that is a digital ledger that records irreversible transactions. However, now the crypto-fanatics and investors aren't just taking note they are also rushing to invest billions of dollars in digital tokens. "It changes, the typical membership model, which is reoccurring fees and essentially just an ongoing expense when you go to a country club or a social club," said the author. "Our NFTs allow you to actually own your membership, so it changes a membership into an asset, which you can sell, you can use, you can transfer, you could gift or you could lease if you're not in town and won't be available to use it over the time period. He informed his host Stuart Varney he is planning to open in 2023 since "it will take a bit of time to build out the space and find an iconic location that we feel like is special enough for this project.