The Flyfish Club will be based in New York City — and according to its website, the NFTs have already sold out.
A private dining club claims it is becoming the first in the world to offer membership in the form of non-fungible tokens.
The Flyfish Club will be based in New York City — and according to its website, the NFTs have already sold out.
A standard membership costs 2.5 ETH (worth about $8,350 at the time of writing) and offers access to a cocktail lounge, restaurant and outdoor space, alongside private events.
Meanwhile, a premium Omakase membership is priced at 4.25 ETH (that's $14,200 at current rates.) Alongside all of the perks that standard members enjoy, this entitles owners to access an exclusive 14-seat room where the "best-quality fish is flown in daily" from Japan as a chef curates the menu.
While 2,650 Flyfish memberships were put on sale — each offering a distinctively designed NFT — the 385 Omakase memberships are split into seven pieces of artwork inspired by well-known sushi dishes.
The project's website is adorned with endless pictures of sumptuous seafood, and says the club will be "in one of the most beautiful buildings that exist," adding:
"The space will be both intimate and airy, with high-ceilings, special views, and curated moments all throughout."
However, it is worth noting that a site is yet to be found for the private members' club — and that's due to be completed by the first quarter of 2022.
The main restaurant is set to offer a "robust raw bar" and dishes inspired by international influences "created by award-winning chefs and hospitality experts."
Flyfish is the brainchild of Gary Vaynerchuk, a serial entrepreneur who is also best known for co-founding the restaurant reservation app Resy. The restaurant is due to open its doors in the first half of 2023.
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The Logistics
Flyfish says membership is valid for as long as someone is a token holder — and given how some annual fees for private members' clubs cost $5,000, you could argue that this project's offering is rather competitively priced.
Tokens can be sold on OpenSea, meaning that there is potential for profit if demand for access to Flyfish increases in the months to come. Membership can also be leased on the secondary market.
Unfortunately, the cost of food and beverages aren't included — and interestingly, crypto isn't going to be offered as a payment method.
Non-members can only visit Flyfish in the company of a token holder, adding to the air of exclusivity surrounding the club.
