On March 18, 2023, the Shiba Inu-themed cafe in Surfers Paradise, Australia, made its debut.
Shiba Wings, an Australian fast-food restaurant, has had a lot of foot traffic since its grand launch in March as a result of its delicious fried foods. However, their appetite hasn’t converted into cryptocurrency payments.
The diner’s fictitious proprietor, “Elijah,” told local media that they received about $168 (250 Australian dollars) in cryptocurrency payments in the first week. The overall amount of cryptocurrency payments decreased in the months that followed, averaging just about $34 (50 Australian dollars) per week.
Shiba Inu has accounted for the majority of these payments, followed by Dogecoin and Cardano.
Elijah emphasizes that the business isn’t focused on cryptocurrency payments, so he doesn’t think this should be a cause for alarm. Elijah claimed that he is more concerned about providing high-quality meals and establishing the Shiba Wings brand.
“[Crypto payments] were more of an add-on feature. You generally don’t want to be using your crypto to make payments, or you’ll end up like that Bitcoin guy that bought the Pizzas.”
Elijah further stated,
“I actually advise people not to spend lots of crypto here. I say ‘listen I would keep that, probably not a coin you’d want to use on food, maybe use a different one that you hold a lot more of.”
Elijah claimed that his intention was to exploit the cryptocurrency component as a means of developing a fast food chain that could rival McDonald’s, primarily by utilising the Shiba Inu brand.
There is a sizable, global fan base for Shiba Inus. The Shiba Inu Token and the Shib Army each had more than 4.1 million followers on Twitter as of the time of writing.
Could Shiba Inu Theme Be The Element Of Innovation?
Elijah claimed to have purchased the Shiba Inu intellectual property rights in Australia, and he intends to use his ownership of the Shiba Inu logo and related branding materials to open a number of Shiba Wings franchisees before the end of the year.
Elijah further said,
“My goal is to create the next fast food franchise concept to compete against a Maccas, but obviously giving it a very different feel and spin, having the crypto element as an innovation in the fast food space.”
Elijah also mentioned the imminent NFT release from Shiba Wings, which will enable holders to acquire stock in the company. Elijah claims that as part of the NFT deployment, “15% ownership of every restaurant will be given to the community,” effectively converting them into virtual shareholders who will receive dividend payments on a weekly basis.
He stated that a distinct Shiba Wings coin that offers holders in-store advantages will be released soon.
According to a poll conducted by cryptocurrency exchange Crypto.com in August 2022, 55% of Australian consumers and businesses were interested in making purchases in cryptocurrencies, and nearly half (47%) of all surveyed businesses said they were prepared to accept cryptocurrency payments within a year.