Blackbird, Blockchain Restaurant Loyalty App, Goes Live With Flynet Mainnet

Blackbird, the loyalty platform of the restaurant, based by Resy and Eater co-founder Ben Leventhal, shared Thursday that his Flynet Minnet is dwell, making restaurant funds on the chains.

Flynet is a Layer-3 blockchain primarily based on the essential chain of Coinbase. Base, a Layer-2 community, allows customers to transactions on high of Ethereum for quicker and cheaper.

The group claims that having a Layer-3 advantages the restaurant trade as a result of “by treating funds and loyalty applications utterly on Flynet, Blackbird eliminates conventional intermediaries, decreasing transaction prices and introducing a brand new mannequin for rewarding each dinners and companions.”

Blackbird had beforehand launched a fee platform, in order that customers will pay for his or her meals with $ fly, the native token of the platform that customers may earn via this system loyalty program by eating in collaborating eating places, or by shopping for it within the Blackbird -app utilizing the USDC Stablecoin.

With Flynet Reside, $ Fly might be utilized in the identical means, however now eating places can use the signal to additionally pay platform charges. Furthermore, the group releases a brand new token, $ F2, to make use of for gasoline prices on the community.

The group mentioned that they’ll air as much as 13% of the $ F2 topping to early customers and eating places, with distribution, relying on sure exercise statistics. The remaining 87% of $ F2 goes to “insiders, the treasury, and we’ve six extra seasons after that we’ll allocate tokens to the contributors,” Leventhal Coindesk mentioned in an interview.

In line with the group, Blackbird has $ 85 million in financing with backers from Andreessen Horowitz (A16Z), Coinbase, Spark Capital and American Specific. In 2023, A16Z raised greater than $ 24 million for the platform in a collection A spherical.

Blackbird is at present accessible in New York, San Francisco and Charleston, and let Diner’s rewards earn at a few of their favourite eating places. Leventhal advised Coindesk that there are round 500 eating places as a part of their loyalty program.

“What we expect we will do is construct one thing the place transactions turn into far more value -effective, and the levers which have to draw and retain eating places will turn into monumental,” Leventhal Coindesk advised how he sees the restaurant trade and blockchain intersection. “And people two issues, greater than no matter, is the rationale why we construct within the chain.”

Learn extra: Blackbird, Web3 Startup from Resy Co-founder, desires dinners to pay for meals in Crypto