Just when you thought 2021 couldn’t get more ridiculous, something new appears. Something new in the shape of the sale of a sushi shop on the Gold Coast as an NFT. Oh, the metaverse comes into it, too.
Yes, that was correct.
Last week, Australian brand Sushi Sushi gained the honour of the first retailer in the world to list a store for sale via cryptocurrency. In fact, in Sushi Sushi’s press release, they said, “One lucky crypto enthusiast will be the first person globally to take ownership of a Sushi Sushi store”.
So where is this store? The Gold Coast, of course. The brand’s Cavill Avenue location is up for grabs. If you’re not from the GC and didn’t end your high school year in the most stereotypical way, Cavill Ave is a lot. It’s a pretty iconic strip in Surfers Paradise, Queensland, Australia. There’s a bunch of food spots, shopping and loud music coming from the nightclubs around the area. It also points directly to the beach, which isn’t bad at all, just touristy (but hell, if you’re there, you’re probably being a tourist, so).
If this wasn’t enough, the press release also says this, “in this bold move, the brand is launching an exciting new phase, entering the Metaverse – and this is just the beginning”.
“By adopting blockchain technology and activating in this new arena Sushi Sushi is leading the way and discovering innovative ways to connect with future customers, reinvigorating retail in a post COVID/lockdown world,” it says.
So how will the sushi shop be sold? As an NFT, of course.
NFTs, or non-fungible tokens, are used to verify unique items. The blockchain-created certificate of authenticity is used for a digital asset such as art. ‘Non-fungible’ means unique – basically, the whole thing is digital proof of ownership.
“A smart contract that sits on the blockchain will signify the purchase of the store for the crypto buyer. They will receive all future store profits, and an exclusive digital asset (NFT) that represents the ownership of the retail location,” Sushi Sushi adds.
So there you have it. Sushi and NFTs.