Proof of Steak: Building a Community-Driven Food Industry with Web3

Publicly surfacing salaries and operating costs would foster a new level of accountability on the part of restaurant owners, leading to a more stable footing for restaurants and ultimately creating a better working environment for staff.

“Radical transparency in blockchain could forever change the economics of a restaurant,” said Joey Rubin, owner of Parade, an experiential culinary agency, and resident FWB LA social chair. “If you can unfuck the finances of this stuff, you can have a real conversation about the reasons restaurants came to exist and how they were born.”

Fast forward to the Web3 era, and we have yet to scratch the surface when it comes to the applications of blockchain in food. In a pandemic landscape that has seen over 90,000 eating and drinking establishments close their doors, Web3 has the potential to enable entrepreneurs to tap into novel business models, grounded in community patronage and fi... See more

Litwak said that the startup, which describes itself as the “Web3 curation layer for IRL social spaces,” is also in talks to license its membership management and fundraising software to a whole new class of so-called “social space entrepreneurs.” “The blockchain does not curate people other than [by] price,” Litwak said. “To buy a Bored Ape Yacht ... See more

Not surprisingly, many of the most attention-grabbing experiments thus far have revolved around high-end, luxury experiences. One of them is Gary Vaynerchuk’s Flyfish Club, a token-gated restaurant, cocktail lounge, and sushi bar launching in the first half of next year in Manhattan.... Though the project offers a futuristic twist on the members-on... See more

Then there's the supper club model, which a group called DinnerDAO is currently testing out in cities like New York, Los Angeles, and Portland. Members purchase an NFT, and the proceeds are pooled into a treasury that pays for an eight-person group dinner. Anyone can buy-in, and everyone receives an equal vote in deciding which local restaurant the... See more