Blackbird’s Crypto Restaurant App Secures $24M Led by A16z

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Blackbird Labs, the business enterprise behind a crypto-powered app and loyalty software designed to attach restaurants and clients, has secured $24 million in a Series A investment spherical. The funding round become spearheaded by means of the prominent assignment capital corporation Andreessen Horowitz (a16z).

Here’s how Blackbird’s revolutionary machine works

Customers make use of Blackbird, that’s constructed on Coinbase’s Layer-2 Base blockchain.

By tapping their phones on a close to field verbal exchange (NFC) reader, customers create a non-fungible token (NFT) membership.

The NFT is minted whilst customers “faucet in” to the eating place, unlocking distinctive rewards and insider perks, along with off-menu gadgets and SMS concierge services.

One of the first-rate aspects of Blackbird is its CEO, Ben Leventhal, a co-founder of the dining community Resy. Interestingly, a current New York Times characteristic on Blackbird did not mention the word “crypto.”

Behind the scenes, Blackbird operates on a blockchain-based infrastructure with a decentralized ethos. Diners can earn fungible $FLY tokens, and the platform’s “Flypaper” outlines some of the underlying mechanics.

“Blackbird could be the first decentralized platform constructed especially for the hospitality industry. Unlike legacy rewards marketplaces which maroon and lock earned points, the Blackbird protocol will in the end permit customers to take the factors they earn everywhere they go on public blockchains.”

Flypaper states

To streamline accessibility, Blackbird has partnered with Privy. Users do no longer need a crypto pockets before joining; they could actually check in with their phone range, which automatically grants them get entry to to a self-custodial wallet.

Despite being notably new, Blackbird has already onboarded about eighty eating places in New York City. According to Arianna Simpson, preferred accomplice at a16z crypto, “Web3 enables a effective, new way for eating places and guests to connect, making each eating experience precise and greater meaningful.

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About Maria Morgan

Maria Morgan is a full-time cryptocurrency journalist at Coinography. She is graduate in Political Science and Journalism from London, her writing is centered around cryptocurrency news, regulation and policy-making across the glob.

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