A new restaurant called Bored and Hungry, themed after the Bored Ape Yacht Club NFT collection opened on April 9 in Long Beach. The restaurant announced on Twitter during its opening weekend that it would accept ApeCoin (CRYPTO: APE) —the project’s new native token—as well as Ethereum (CRYPTO: ETH). Holders of the NFT collection will get access to free meals and other perks during its pop up stint for the next 90 days. Bored and Hungry hopes to increase education around the use cases for NFTs by demonstrating utility into the collection, which has quickly become a multi-million dollar brand owned by its community of holders.
“The goal is to give back to the growing Web 3.0 community and open the doors to those who want to learn more about this new Web 3/NFT world,” said the restaurant’s founder Andy Nguyen in a statement about the project. “Our job is to educate the public about this new future world. And show people that you can create a brand/business out of this IP. Taking away the stigma of, ‘It’s just a jpeg.’”
One of the benefits to owning a Bored Ape NFT of your own is that you own its IP, allowing you to develop your NFT into a brand of its own. For projects like Bored Ape which have piqued global interest from celebrities, news outlets and just about anyone with a Twitter account, ownership of the IP equates to potentially millions of dollars in revenue if a product is executed well. Plus, individual business ventures from single Bored Ape NFT holders have the support of the entire Bored Ape community behind them—a network of ultra-wealthy celebrities, investors and entrepreneurs from around the globe.