Since its grand opening in March, Shiba Wings, an Australian fast-food diner specializing in fried delicacies, has attracted numerous customers through its doors. However, despite their hearty appetites for the food, these patrons have not shown the same level of enthusiasm for making payments in cryptocurrencies.
Located in Surfers Paradise, a beachside city in Australia, Shiba Wings embraces the Shiba Inu (SHIB) theme, which has gained popularity in the crypto world. The diner made its debut on March 18, attracting attention and curiosity from locals and visitors alike.
While the initial week saw crypto payments totaling around 250 Australian dollars ($168), subsequent months witnessed a decline in these transactions, settling at an average of approximately 50 Australian dollars ($34) per week. Among the cryptocurrencies used for payments, Shiba Inu was the most prevalent, followed by Dogecoin (DOGE) and Cardano (ADA).
Despite the dwindling crypto payments, the owner of Shiba Wings, known pseudonymously as “Elijah,” remains unperturbed. Elijah emphasizes that cryptocurrency transactions are not the primary focus of the business. Instead, the main objective is to provide high-quality food and cultivate the Shiba Wings brand.
Elijah even advises customers against spending significant amounts of cryptocurrency at the diner. He suggests holding onto cryptocurrencies that possess greater value and using other digital currencies for everyday purchases like food. Elijah’s ultimate goal is to establish Shiba Wings as a fast food franchise capable of competing with industry giants like McDonald’s, leveraging the popularity of the Shiba Inu brand.
The Shiba Inu community boasts a substantial international following, with the Shiba Inu Token and Shib Army Twitter accounts collectively amassing over 4.1 million followers at the time of writing. Elijah reveals that he obtained the intellectual property rights to Shiba Inu in Australia, intending to leverage the logo and associated branding materials to launch multiple Shiba Wings franchises by the end of the year.
Elijah envisions Shiba Wings as a groundbreaking fast food concept, incorporating crypto innovations within the industry. The forthcoming NFT release from Shiba Wings will enable holders to own a share of the business itself. As part-owners, these individuals will receive quarterly dividends, transforming them into quasi-shareholders. Additionally, Shiba Wings plans to introduce a separate Shiba Wings token, providing holders with exclusive benefits when dining in-store.
While a survey conducted in August 2022 by crypto exchange Crypto.com indicated that 55% of Australian merchants and consumers were interested in cryptocurrency payments, with almost half of the surveyed merchants ready to accept such payments within a year, Shiba Wings remains focused on creating a distinct fast food experience rather than solely relying on crypto transactions.
As Shiba Wings continues to tantalize taste buds and explore new avenues for growth, it strives to carve out its place in the competitive fast food landscape, bringing a unique spin to the industry while incorporating the innovative world of cryptocurrencies.