It’s not often that a new technology is able to disrupt an industry, but Bitcoin has done just that. The introduction of the cryptocurrency in 2009 was met with mixed emotions around the world, yet its success on an international scale speaks volumes about its potential.
The “restaurants that accept bitcoin” is a growing phenomenon. Landry’s Restaurant Group plans to introduce their own Bitcoin loyalty program.
On Tuesday, Landry’s Restaurant Group and cryptocurrency developer NYDIG announced a collaboration that would let customers to earn $25 in Bitcoin for every $250 spent at the hospitality conglomerate’s restaurants.
Landry’s will also hold a part of its corporate treasury reserves in Bitcoin, which will be managed by NYDIG. Morton’s, Bubba Gump Shrimp Firm, the Rainforest Cafe, and the Palm are among the hundreds of franchises operated by the company. Tillman Fertita, a rich TV personality who also serves as the company’s CEO, owns Landry’s.
Trey Zeluff, Landry’s Director of Digital Asset Strategy, stated in a statement:
“We think bitcoin is a good option for a percentage of our own treasury, therefore we want to provide our clients the same option. In collaboration with NYDIG, we’re thrilled to be the first to introduce this idea to the hotel sector.”
Landry’s first expressed interest in cryptocurrencies earlier this year when it started taking Bitcoin payments at several of its locations in April. “It’s astonishing how easy [a crypto] transaction is, and it is here to stay,” the company’s CEO remarked at the time. This is where it is, and it was only a matter of time until it happened.”
CEO Fertita’s interest in cryptocurrencies seems to have migrated to other aspects of his career, with his NBA team garnering news in the sector in recent months. Tillman also declared in June 2021 that he would start verifying blocks for the Akash Network, saying it was time to “begin studying mining or validating blocks as the next logical step in our digital asset strategy.”
The NYDIG has also entered the blockchain area, raising hundreds of millions of dollars in 2021 to develop Bitcoin-focused solutions for the insurance, banking, and renewable energy sectors. Cointelegraph also revealed earlier this month that the business has bought Bitcoin micropayments provider Bottlepay in the goal of “unlocking the future financial infrastructure.”
The “what restaurants are on the landry’s card” is a loyalty program that will be introduced by Landry’s Restaurant Group. The company will offer customers with this card, discounts at their restaurant.
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