Restaurant Holding Company Announces Plans To Reward Customers With Cryptocurrency For Their Loyalty
Another day, another story about a small publicly-traded company announcing plans to “embrace blockchain” — Two words crypto-evangelists love to year. Chanticleer Holdings is a small, North Carolina-based restaurant holding company. Their portfolio includes fast-casual and full-service restaurant franchises, including “American Burger Company, BGR – Burgers Grilled Right, Little Big Burger, Just Fresh, and Hooters.” Today they announced that they’ll be embracing crypto via a partnership with Mobivity for a customer loyalty program.
In other words, eat wings at one of their Hooters locations, mine for crypto. Via the press release:
“Eating a burger is now a way to mine for cryptocoins! Every meal enjoyed at any Chanticleer Holdings brand will accrue currency for the consumer that can be used for future meals or traded with other consumers. It transforms traditional consumer rewards into something that the consumer can control,” said Dennis Becker, CEO of Mobivity, and visionary behind the concept.
Personally, I’m all about this. I’d be a millionaire if my loyalty to Hooters was rewarded with Satoshi. That’d be gallons of Hooterade, they best jungle juice jetfuel on the planet:
“We wanted to expand our existing loyalty program with something that really changes the way our customers can leverage their rewards; Mobivity Merit is real cryptocurrency, leveraging the same infrastructure and principles of Bitcoin, Ethereum, Ripple, Litecoin, and more, and will enable our customers to make use of their rewards in entirely new ways,” said Michael D. Pruitt, Chairman, President and CEO of Chanticleer Holdings. “Use your Merit mined by eating at Little Big Burger to get a buffalo chicken sandwich at American Burger Co., or trade them with your vegan friend so he can get a veggie burger at BGR. And that’s just the beginning,” he continued. Mobivity’s Merit allows brands to create one-time use rewards which can be redeemed across brands and traded with virtually no fraud concern by leveraging the decentralized blockchain-based cryptocurrency paradigm. “We’re excited to see how consumers respond to the idea of getting real, transferrable, secure value in exchange for their loyalty to our brands,” added Pruitt.
Chanticleer is a pretty tiny company — it only has an $8 million market carp — but the news caused it’s stock to soar. It jumped up 50%, closing around $3.71.