Blackbird, a crypto dining app, raised $50 million in a Series B funding round, which will enhance its blockchain loyalty program.
Blackbird Funding and Goals
In Q4 2024, Blackbird raised $50 million in a Series B funding round led by Spark Capital. This funding aims to develop the company's blockchain loyalty program with participation from investors like Coinbase and a16z crypto.
FLY Token Technology and Usage
The funds will allow Blackbird to enhance $FLY token technology, which is already used in over 1,000 restaurants. The Flynet blockchain network provides venues with tools for in-depth analysis of customer interests and preferences.
Impact of Blockchain on the Restaurant Business
Despite interest in implementing Web3 in the restaurant industry, Blackbird faces certain caution due to the unregulated nature of cryptocurrencies. Currently, there are no clear statements from major regulatory bodies like the SEC, which creates legal uncertainties for the development of such technologies.
Blackbird's $50 million funding underscores the growing trend of blockchain technology usage in the hospitality sector, which could lead to improved customer experiences and create new opportunities for restaurants.
