Flyfish Club (FFC) is the world’s first member’s only private dining club where membership is purchased on the blockchain as a Non-Fungible-Token (NFT).
The first @flyfishclub takeover will be at @itotribeca and for Omakase members only. The date for the next one will 8/13/2022 at 6:30 pm.
When Gary Vee put Flyfish Club NFTs up for sale in December of 2021, the NFTs were only offered in “private pre-sale” mode to an exclusive group with some 350 NFTs available for private purchase. These NFTs were not sold as art; they were offered as memberships to a fine dining club–one only those who own Flyfish NFTs can use.
Flyfish Club: For Members Only
The concept of a members-only club is nothing new. There are plenty of country clubs, hospitality lounges in airports, and many other examples of spaces that seem to operate in the public space but are actually restricted-access operations.
And then, of course, there’s the world of NFTs like Bored Ape Yacht Club, Meebits, etc. where buying an NFT can also come with voting rights for the project and other perks. But a new trend has NFT projects–famous or infamous for an emphasis on decentralization–spilling into IRL commerce such as the Flyfish Club.
Gary Vee, more traditionally known as Gary Vaynerchuk, is part of a larger project combining food, entertainment, and NFTs. Vee, Along with David Rodolitz, chef Josh Capon, and Conor Hanlon are the operators of VCR Group.
|December 15, 2021
|350 Tokens (252 FLYFISH & 98 FLYFISH OMAKASE)
|1,151 Tokens (948 FLYFISH & 203 FLYFISH OMAKASE)
|1,534 Tokens (1450 FLYFISH & 84 FLYFISH OMAKASE)
The founders of VCR Group describe Flyfish Club as an innovation for both the dining experience and how the hospitality industry handles private club memberships. Flyfish features two membership tiers; one offers exclusive access to a Flyfish Club in New York City plus access to in-person and online events. The other tier is known as an “Omakase” tier featuring all the perks of the first tier but also offering a sushi experience with a master chef.
There’s just one catch. The physical Flyfish club in New York City? It isn’t open yet. Fox Business reports the planners have an eye on an “undisclosed location” that could open “sometime in 2023”.
In spite of the open-ended nature of those plans, enthusiasm for the concept seems high. The first 350 Flyflish Club NFTs were offered privately in 2021, with more than 1100 put up for public sale in January 2022. How did the sales go? The initial public sale finished in January 2022 with all available NFTs sold.
On top of that, at one point in 2022 only 10% of the Flyfish NFTs were available for resale–owners seemed to trend towards “buy and hold”. Flyfish itself hung on to more than 1000 of the NFTs for future promotions.
The members-only NFT includes the ability to sell or trade it on the secondary market. But this particular NFT project comes with a twist–the ability to RENT your Flyfish membership out to others who can use the NFT for the perks, return it to the original owner, who can then use it in the same way. It’s a concept sure to create some imitations and mutations on the idea.
Will the concept restaurant really open in 2023? While eager investors and future club members wait for details, it’s good to know about similar NFT concepts operating in the hospitality industry like Bored And Hungry, an NFT concept pop-up restaurant founded by Andy Nguyen based in California. Bored And Hungry features free meals and access to exclusive merchandise featuring Nguyen’s own Bored Ape NFT, Bored Ape #6184.
Many user who own Flyfish Club NFTs also own VeeFriends, VeeFriends Mini Drops, cryptomemento by niftyjutsu and “Crypto Packaged” GOODS – Genesis Passes.
But unlike Bored And Hungry, the Flyfish Club concept seems to be rooted in a permanent physical space. Whether or not that comes true is not clear at press time.
Flyfish Club Official Links & Marketplaces
Official Website: https://www.flyfishclub.com/
Flyfish Club Opensea Marketplace: https://opensea.io/collection/flyfish-club
Joe Wallace has covered real estate and financial topics, including crypto and NFTs since 1995. His work has appeared on Veteran.com, The Pentagon Channel, ABC and many print and online publications. Joe is a 13-year veteran of the United States Air Force and a former reporter for Air Force Television News.