Shiba Wings, an eatery inspired by the SHIB theme, serves up tantalizing wings, burgers, and cocktails. Yet, in spite of the branding, conventional currency remains the primary means of trade.
Since its grand opening in March, Shiba Wings, an Australian fast-food joint, has seen a steady stream of patrons drawn to its crispy delights. However, the enthusiasm for their food hasn’t quite translated into a boom in cryptocurrency transactions.
The diner, inspired by the Shiba Inu SHIB $0.000008 cryptocurrency, welcomed its first customers in Surfers Paradise, a popular beachside locale in Australia, on March 18.
In a conversation with Cointelegraph, the diner’s pseudonymous owner, “Elijah,” disclosed that they garnered approximately 250 Australian dollars ($168) in crypto transactions during their inaugural week. However, in the subsequent months, the total crypto revenue dwindled to an average of roughly 50 Australian dollars ($34) per week.
The majority of these transactions were conducted in Shiba Inu, followed by Dogecoin DOGE $0.07 and then Cardano ADA $0.287.
Elijah, however, does not consider this trend to be alarming. He emphasized that the primary objective of his business is not centered around crypto transactions. Instead, he is more invested in delivering high-quality meals and establishing the Shiba Wings brand.
“Crypto payments are more of an additional feature. It’s generally not advisable to use your crypto assets for purchases, or you could end up like the Bitcoin pizza purchaser,” Elijah stated.
“I typically caution customers against spending large amounts of crypto here. I tell them to perhaps use a different coin that they possess in greater quantities.”
Elijah’s goal is to leverage the cryptocurrency element to develop a fast-food franchise that could rival McDonald’s, principally by capitalizing on the Shiba Inu brand.
The Shiba Inu community has a broad international following. As of the time of writing, the Twitter accounts for the Shiba Inu Token and the Shib Army have amassed over 4.1 million followers combined.
“I acquired the intellectual property rights to Shiba Inu in Australia,” Elijah declared. He envisions using the logo and associated branding elements to inaugurate a network of Shiba Wings franchises by the year’s end.
“I aspire to build the next breakthrough fast-food franchise to compete against a brand like McDonald’s, but with a distinctly innovative twist, incorporating the crypto element as a game-changer in the fast-food sector.”
Elijah also alluded to Shiba Wings’ imminent NFT launch, which will offer holders a stake in the business. Elijah anticipates that the NFT launch will result in “15% ownership of every restaurant being transferred to the community.” This unique proposition would effectively turn them into quasi-shareholders eligible for quarterly dividends.
Furthermore, he mentioned the upcoming introduction of a separate Shiba Wings token, which will grant holders certain in-store advantages.
According to a survey conducted by Crypto.com in August 2022, 55% of Australian merchants and consumers exhibited interest in using cryptocurrency for transactions, with almost half (47%) of all surveyed merchants indicating their readiness to accept crypto payments within a year.