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EP 39 / Chad Horn / Co-founder of Devour & Restaurant Crypto Pioneer

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Chad is an absolute pioneer when it comes to cryptocurrency and NFTs in the restaurant space. In this episode, he takes the time to break down the basics of the blockchain, crypto and NFTs, how restaurants can capitalize, and what the future looks like in this space. It's a brave new world and Chad's company Devour is one you'll hear about more and more.

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EP 39 / Chad Horn / Co-founder of Devour & Restaurant Crypto Pioneer
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Show Notes

Chad is an absolute pioneer when it comes to cryptocurrency and NFTs in the restaurant space. In this episode, he takes the time to break down the basics of the blockchain, crypto and NFTs, how restaurants can capitalize, and what the future looks like in this space. It’s a brave new world and Chad’s company Devour is one you’ll hear about more and more.

Chad has spent his entire career in the restaurant technology sector. He and his fellow co-founders at Devour began paying attention to blockchain, crypto and NFTs in the restaurant space in 2020.

With non-fungible tokens (NFTs), one is different from the other. That means they can have different utility, value, etc.

We’re currently at the early phase of NFTs becoming mainstream and delivering various benefits.

People assigned value to NFTs because they were a new thing, but then they realized that there was a status associated with owning an NFT.

For restaurants, some NFTs are focused on utility. Gary Vaynerchuk’s restaurant, Flyfish Club, is billed as “the world’s first NFT restaurant, and uses NFTs to give token-holders access to the restaurant.

NFTs are the most useful technology for restaurants right now. Crypto is less useful because it doesn’t solve a current problem for restaurants.

Restaurants can give away NFTs, make customers earn the NFT or sell the NFT.

NFTs can be used by restaurants to give token-holders exclusive access to various menu items.

The metaverse is an online space that utilizes the fundamentals of the blockchain. It can incorporate cryptocurrency or NFTs. There’s not much use right now for restaurants in the metaverse.

The keys for widespread NFT adoption and understanding are increased use in gaming and increased use by big brands.

Quotes

“I like to put (blockchain) in really simple terms. It’s a kind of database. A database that’s very, very difficult or near impossible to hack. All the information is there, it’s secure and it’s visible to everybody.” – Chad

“NFTs really started to come onto the scene in 2019, and 2021 was an insane year for them and 2022 will be even bigger.” – Chad

“There’s a lot of value that can be assigned to NFTs to unlock real world experiences. So NFTs are the very first thing that restaurants can get a ton of value and utility out of.” – Chad

“Because NFTs are registered on the blockchain, the blockchain essentially serves as verification of authenticity. So when someone shows their NFT, there’s gotta be a way for the restaurant to ensure that that NFT is, in fact, registered on the blockchain and is an authentic NFT.” – Joseph 

“You can’t get a burger in the metaverse, but you can create a virtual restaurant.” – Chad 

“If there’s going to be a team that’s going to help restaurants navigate this crazy, always-evolving world well, it’s going to be (Devour).” – Chad 

Transcript

00:00.00
vigorbranding
Hey, everyone today I’m joined by my friend Chad Horn he is the co-founder of devour which is a lovely word and a lovely name. Um, we are going to get into the nitty-gritty of devour but also everything that they’re touching on right now. I’m really excited about this episode. Um, but before we hop in chat say hello give a little bit of backstory.

00:17.10
Chad Horn _ Devour
Hello Joseph first. Thank you for having me on your program this morning a quick backstory on me is I’ve done my whole career virtually in the restaurant technology sector so you know that’s where I fell in love with restaurants. Restaurant people restaurant companies anybody helping out restaurants and I also have been in partnerships roles. So it’s been very active in forming collaborations with other companies and figuring out how to work together to serve the space. Um, so that’s that’s me in a quick quick. Yeah.

00:52.75
vigorbranding
I Love it. So like I said we’re gonna hop in to devour and and for those that don’t know um you will find out but a very high level is you guys are playing in or muddling around him. The.

00:53.58
Chad Horn _ Devour
20 seconds

01:09.67
vigorbranding
Crypto Blockchain nftt space which is probably how everyone listening thinks about that world. It’s just like a ah garbled mess of new tech that we don’t quite Understand. Um. Seemingly and I think the reason is is seemingly out of it seems like out of nowhere the word blockchain just started hitting our ears left and right same with the Nft Um, and they’re being tossed around a lot. So for clarity. Could you attempt to lay down the definitions in simple terms starting with.

01:33.91
Chad Horn _ Devour
Is it.

01:40.42
Chad Horn _ Devour
Absolutely So and if I’ll preface this by saying if you had told me I’d be having this conversation with you about blockchain a few years ago I’d say no and that’ll never be me. Um, so blockchain I I like to put this in really simple terms. It’s a kind of database. It’s a database that’s you know.

01:41.19
vigorbranding
Blockchain.

02:00.40
Chad Horn _ Devour
Very very difficult or near impossible to hack all the information is there secure and it’s visible to everybody right? It’s not behind some wall that only some company controls right? So it’s it’s a database has information of any kind and and and it’s and it’s safe and secure there.

02:16.70
vigorbranding
Interesting. Yeah so I heard someone use the the term ledger as well. So same same. Um and I think one of the words that we hear of blockchain specific to crypto is mining which I think it actually honestly doesn’t make much sense to me why it would be called that but like.

02:20.88
Chad Horn _ Devour
This is.

02:35.21
vigorbranding
Especially because mining has a very clear meaning and it’s literally nothing like that. But from what I gathered um miners of let’s say bitcoin or a cryptocurrency they have machines that essentially verify the entries into the blockchain using some sort of.

02:37.56
Chad Horn _ Devour
For it.

02:54.60
vigorbranding
Puzzle that needs to be figured out so they basically decrypt or something like that to verify that that is actually true.

02:57.85
Chad Horn _ Devour
You got it I don’t think I would add anything to that right? It’s just yeah people put their their expensive computers to work solving those algorithms that verify transactions on the blockchain and um, yeah, that’s how it gets done.

03:11.18
vigorbranding
Awesome. Yeah, and so what? what I think’s brilliant and obviously a lot of other people is like you said it’s not just one entity that holds all the cards. It’s It’s not a wizard of oz never mindd that man behind the curtain. Um, it’s so many people around the world using their machines to you know? ah.

03:21.67
Chad Horn _ Devour
Okay.

03:30.22
Chad Horn _ Devour
Yep.

03:30.96
vigorbranding
Decode these algorithms for verifications. So like every single entry into the blockchain is verified multiple times for authenticity and a lot of stuff which is quite great. So if we that actually kind of unpacks what crypto is I mean crypto I know that’s such a huge word and I think everybody thinks of currency literal like. The Us dollar but there’s so much more in the crypto space without getting too far into that. Let’s talk about nfts because that seems to be like the hot new 3 litter acronym help me out. What is what is an nftt.

03:58.95
Chad Horn _ Devour
Yeah, so I think it does help to start in the definition of an empty with crypto right? like everybody’s heard of bitcoin at the very least, but the the thing there is that one bitcoin is no different from another right? Just like no $1 is different than another. And so that means they’re um, fungible, right? They’re replaceable one with the other right? So that’s where the fungible and Nft comes from but in the case of a non-fungible token then one bitcoin if it were if bitcoin were non-fungible then 1 bitcoin would be different than another bitcoin. That’s not the case.

04:34.39
vigorbranding
A.

04:37.35
Chad Horn _ Devour
But with Nfts they are so that’s often represented visually in the form of the art that you see with and nfpss if you may have seen ah the the one called Board Apes or crypto punks. There is a different character from one to the other. But behind that is ah it’s a different.. It’s a different address associated with those as Well. So um, yeah, same thing with non-fungible tokens one is different than the other and that means they can have different utility value et cetera.

05:09.59
vigorbranding
Interesting. Yeah so when I first heard of Nfts I got basically what you just said? um I got that high level which is it’s something that is uniquely ownable It verifies authenticity.

05:14.92
Chad Horn _ Devour
Okay.

05:22.75
vigorbranding
Because it’s on the blockchain. So every nftt has is an entry into the blockchain. So it’s verified over and over again that this is authentically this person’s ownership and and that’s about as deep as I went at first and so I think that’s actually um, barely scratching the surface of what and Nftts truly are.

05:25.74
Chad Horn _ Devour
And here.

05:42.51
vigorbranding
So you know I saw the board apes and um, you know for me I was like why would anybody want to buy this picture of a board ape when this 1 looks almost exactly the same except they change the hair color and the eyeballs and and guys I’ll I’ll try to have links in the in the show notes so you can see what I’m talking about if you don’t. And then when I started when I started to really dive in well before I do that I I started thinking of Nfts from the restaurant space which is essentially what devours starting to really get into and and build out there. Um, and what I was thinking is oh if a chef created a unique deal, especially for me. Maybe they take a picture of it and register on the blockchain because that’s my meal and while that’s true that could be a thing. It’s actually not really what Nfts are and Nfts right now I think are being used to unlock. Real-w world experiences access to ah virtual experiences via gaming or somewhere else. So even though you bought this picture of the board. Ape with the purple hair. It really is more of a membership card to something so much more do I have that correct.

06:52.40
Chad Horn _ Devour
I think it’s useful to think about these in terms of a spectrum right? So they’re especially early on I think and if he’s really started to come on to the scene in 2019 and 2021 was an insane year for nfps and 2022 will be even bigger, but the first ones they didn’t. Focus on what useful things you could do with them in the real world. It was hey we have an Nft collection. They used a style of generating those called generative art where they form different layers of images and they come together to create variations but they look kind of similar and that was it that was the point right? and but because they were. First they were special because this was a new thing and so cryptto punks one of the very first people assign value to them because this was a new thing exciting thing and then ultimately they realized there’s a status associated with owning certain end of peace and on that basis they rose in value. But they also that couldn’t last they couldn’t last where an Nft could be worth hundreds of thousands of dollars simply because of the status that could impart the the art that you’re I right? So so there’s been a transformation where that now people are expecting.

08:00.74
vigorbranding
Perceived value. Yeah.

08:08.60
Chad Horn _ Devour
Utility is the usual word or usefulness real world experience and benefit is another way of saying it associated with Nft ownership and there’s plenty that are in the middle right? they say hey yeah this thing looks really amazing and there there is a status associated with it. You’re part of the club but you also get this benefit. So most do try to you know ride that middle ground and then I think particularly for restaurants we’re seeing a trend where it’s going to be mostly the one end of it where it’s like hey just what is the benefit. What is the benefit of owning this nft because an nftt doesn’t have to.

08:40.30
vigorbranding
And.

08:45.79
Chad Horn _ Devour
One doesn’t have to look different than the other um fly fish club Gary Vee if you’re familiar with this restaurant those nfties don’t look. It’s not about the the difference in look from one to the other. It’s about that having that nfp gets you in to that restaurant.

08:47.20
vigorbranding
Right.

09:01.83
Chad Horn _ Devour
That’s that it’s all purely focused on the utility.

09:03.47
vigorbranding
Yeah, that’s really interesting because you know when I when I first um, saw Gary Vee was getting into the nftt space. Um, you know it was I was kind of scratching my head because again again the initial thinking of what an Nft was is like great. So I technically am the sole owner of this.

09:09.82
Chad Horn _ Devour
Okay.

09:21.94
vigorbranding
Ah, board ape do I put it on a digital frame on my wall like you know like because it’s art that I bought and then you start to realize that it it does open up access to a lot of other things and there is the exclusivity there is hey you can’t get in because you don’t have the Nft that allows you access. So.

09:22.65
Chad Horn _ Devour
Right.

09:41.69
vigorbranding
I Think that naturally leads us to to the next question that I have which is um, you know with all these blockchain technologies which one actually solves a problem for restaurants like how can they be used in the restaurant space.

09:53.60
Chad Horn _ Devour
Um, so eventually emphasis on eventually all of them and so um, I’ve been asking myself. Well what? What of these technology solves a problem for restaurants now or three months from now six months from now and I’m finding that Nfts are are the winner right? there in the short term and I’ll start by saying why not crypto right? For example, all by itself. How much what problem does that solve for a restaurant that I guess to potentially.

10:18.60
vigorbranding
E.

10:30.18
Chad Horn _ Devour
Pay for a meal with crypto in certain markets. You know it could be something but not a. They’re not that’s not solving a massive problem all by itself. Nfts however, as we’re talking about the by virtue of the fact that you the ownership is. Verified by virtue of the fact that it’s it’s transferable by virtue of that fact that it’s inherently technology that can integrate with other technologies and other ecosystems of technology. There’s a lot of value that could be assigned to nftps to unlock real-world experiences.

11:00.99
vigorbranding
E.

11:09.38
Chad Horn _ Devour
And so nftts in my mind and the mind and my colleagues are is the very first thing that restaurants can get a ton of utility and and value out of I view them more as as a massive opportunity for restaurants the ones that would clearly be innovators or early adopters of this type of technology. And there’s value for for being in that category and then over time it’s going to be increasingly necessary to do things withfts because of changing guest behavior and and guest expectations and that market will shift and it’s going to happen quickly kind of like. Internet in the late 90 s it’s just like out of the blue everywhere. Yeah, every company added a Webp page and that’s how business was done and that’s happening here exactly so that’s where we find orself now or kind of the early phase of Nftts becoming really mainstream and just delivering so many different kinds of benefits.

11:48.27
vigorbranding
Um, yeah, http://the.com boom

12:02.86
vigorbranding
Yeah, so hopping back to crypto real quick. Ah, that’s that’s been one of the things on my mind I think others which is you know when will we see crypto usurp our standard federally issued dollar. And the way you started that it actually is a really good question like why? like’s there’s nothing really wrong with the dollar as a transaction. Um, and I think well the reason why it’s been a head scratcher is anybody that’s looked at crypto or invested even a little bit. It. It is a violent market like it is not stable. And they do have so what’s called Stablecos which are fine. You know you could do that. But then that even begs even more like so what? why bother Then like the fedcoin is a stablecoin so it’s the same same. But I mean even looking at my I’m looking at my phone right now for those that aren’t watching I’m looking at bitcoin for instance. Just over one day. Ah bitcoin started February Twenty Eighth at nine twenty a m around around thirty Eight thousand seven hundred dollars and it ended well let’s just say in one day it’s now valued at 44000 so it’s a 15.22 increase in just one day and so that becomes really difficult to run a business on when this morning your sandwich was point zero two of a bitcoin but because of the volatile nature now you’ve lost money because. Bitcoin went down in value or something like that. Um, so Nfts do make a lot more sense. But um, if I buy an Nft to get access to let’s say a private club or a unique restaurant experience. Is that it or or do I actually have to pay to get into that experience or to you know, pay for the food and stuff like that. How has this been working.

13:54.45
Chad Horn _ Devour
So the answer to that is it completely depends. That’s that’s one component of a restaurant’s strategy with Nft and then maybe ultimately crypto as well if they if they wanted to kind of think about that in terms of their their longer term plan and. I like to say that a restaurant needs to decide among other things. Are they going to give away their nftts. Are they going to allow guests to earn the nftts or are they going to sell them which is the more traditional path they they pick a date and they they open it up and it’s a here you go here’s here’s the. Here’s the Nft and if you want to mint it is the technical term you can mint it and here are the benefits and there it’s actually a revenue generating event for the restaurant most are going to be the in the context of restaurants most of brands are going to find more success with the first 2 giving giving away the nft to their their loyal members. Or giving them a path earning it as part of probably some loyalty program or some time based event where it’s like if you do Xy or z you’ve earn the n ift and in that case, most restaurants probably won’t need to make them look different from one to the other or either like they won’t be like a board ape or you know one has purple hair and one has green hair there. Because that’s not the point right? It’s about the experience that it unlocks so most of it is going to be of those 2 right? where they won’t have to go through all of this process and it is extensive process in having a successful fail. It’s more of like make it a simple process. Get it in the hands of the right guest and then start allowing them with the experience that can be unlocked with it.

15:36.26
vigorbranding
Yeah, let’s try to like let’s try to get ah a fake scenario but real world and nevertheless meaning here’s the way I think about it is right? So we have a client out in um Arizona called Overeay we love you guys? Um, now they’re a breakfast joint. So one of the things that.

15:47.46
Chad Horn _ Devour
Okay.

15:55.39
vigorbranding
Has been kicked around I think with breakfast is different kinds of mimosas. So essentially we could offer an nftt to our most loyal guests and they would have access to a unique mimosa that no one else would have access to is that a good example or is that just very high-level light.

16:13.30
Chad Horn _ Devour
That’s a great example, especially if the momosas are a main thing they draw guests in then that will for its loyal following sounds like they might even have a cult following there and yeah, that would you just put yourself in the shoes of the guests would this speak to me.

16:13.89
vigorbranding
Go.

16:29.77
Chad Horn _ Devour
Sounds like it would there and that would be a great utility to attach this Nft if you have this, you always get this exclusive item on the menu you you alone and you could attach other benefits to it as well. The the cool thing that we do um the way we like think about it to help restaurants further is it’s like ah. It’s 1 thing to give the guests the utility right? to say this is how it unlocks right? This is what it unlocks for you but operationally for the restaurant you don’t want to be a victim of your own success and then have lines of people trying to prove that they own an Nft. And then redeem that at the register and the staff is like what like how do I know that’s an nfd are you showing me a picture on your phone or jail or the or the staff’s like hey you’re a friend let me just give you this this one post of eve just because I like it’s like wait a minute There’s operational challenges in terms of.

17:12.32
vigorbranding
Right.

17:23.95
Chad Horn _ Devour
Potentially bogging down the system or opening yourselves up to fraud that that can be solved that those kind of problems have been able to be solved for a long time and so our our thought is that let’s integrate Nft n ft technology into existing restaurant technologies. So all that operational stuff can be automated.

17:39.96
vigorbranding
Yeah, so sorry, sorry real quick. Yeah, so for those that maybe aren’t following around as quickly essentially because Nftts because those tokens are registered on a blockchain the blockchain.

17:41.36
Chad Horn _ Devour
And we think for for most brands that’s key to the puzzle. Yeah yeah.

17:53.77
Chad Horn _ Devour
This.

17:56.62
vigorbranding
Essentially serves as verification of authenticity. So when someone shows their nftt. There’s got to be a way for the restaurant in this particular instance to ensure that that is in fact, registered on the blockchain and is an authentic Nft right? Yeah, okay cool. Sorry.

17:58.81
Chad Horn _ Devour
Right.

18:11.57
Chad Horn _ Devour
Right? correct.

18:15.58
vigorbranding
I Just want to make sure we’re not losing folks because it does get very eddy very quick. Um.

18:18.39
Chad Horn _ Devour
I appreciate you bringinged that back because I you right is there’s so many things that it’s so easy to take for granted but are are actually really important foundational concepts like why at Nft how it works and and why it has value.

18:32.52
vigorbranding
Right? So and and have we seen any big name restaurant start to embrace nfts I know we’ve seen some restaurants you mentioned Gary Vee’s spot. Um I’m blanking. There’s a couple that popped in my head last week that had mentioned some Nft access points. But what I’ve seen mostly is it’s like It’s entry to an exclusive club-like experience. It’s not walking into Mcdonald’s and you get an extra happy meal toy or something which side note why hasn’t Mcdonald’s made like adult happy meals yet with toys because I think we need them like.

18:53.29
Chad Horn _ Devour
Yeah, yeah, yeah.

19:00.28
Chad Horn _ Devour
Right.

19:06.14
Chad Horn _ Devour
Ah, ah, they probably will some point in her piety related to and nfps the metaver That’s probably coming.

19:08.33
vigorbranding
I Think there’d be a big market.

19:16.67
vigorbranding
Yeah.

19:18.26
Chad Horn _ Devour
As indicated by articles talking about Mcdonald’s entry and into that space. They probably will do something like that.

19:23.54
vigorbranding
So let’s let’s hop into that space. Um, we’re going deeper folks all right? So the metaverse most people know that Instagram Facebook they changed they rebranded quote unquote renamed to meta. Because of this idea of the metaverse which is I mean it exists now like it’s it’s out there. It’s just um, it doesn’t have the mass traction just yet now a lot of people have made correlations of the metaverse to what was in ready player one the movie. For instance where it is a fully immersive second actually I will use this word because it’s actually kind of funny a second life. So for those that were back in like the early two thousand second life was a sort of metaverse as well. But minecraft has that same aspect to it I think a number of games. Do.

20:03.50
Chad Horn _ Devour
And.

20:16.42
vigorbranding
So what is the metaverse today and what will the metaverse be when it is fully realized.

20:23.55
Chad Horn _ Devour
Oh gosh oh gosh this is where it’s hardest hard I think it’s the hardest to to kind of try to put on your your futurist hat and try to figure this out I like to think of it as as a a video game or an online space again trying to put it keep it in la layman terms. That utilizes these fundamentals of the blockchain right? A metavers can incorporate cryptocurrency and nfda and metavers absolutely will incorporate and Nfts and so. It certainly looks like you talk about ready player one. It looks so most people like think oh that’s like some kind of advanced video game. Yes, there will always be gaming elements gaming drives the the technology and the experience of the metaverse worlds more than any other application. But what separates it is how how much are they utilizing and tied into this new ecosystem of Blockchain technologies. Someone else who spends more time thinking about the meverse would have a much better explanation than that. But I think some very simply speaking that that covers it.

21:34.44
vigorbranding
It? Yeah, so it’s such a big topic. Um, like we do know that there that brands are buying up real estate within the metaverse for a lot of money. Um it Okay, interesting right? Yeah because it’d be a verified.

21:43.14
Chad Horn _ Devour
Right? right? which are a form of Nf piece right? yeah.

21:54.20
vigorbranding
Digital property. You know. So if somebody like if Chad and Joseph wanted to open up mickey d’s island or something it wouldn’t be verified as from mcdonald’s um, so it prevents people from creating um various articles or artifacts within the metaverses. So for instance.

21:59.30
Chad Horn _ Devour
If.

22:12.62
vigorbranding
Um, for those that don’t know like you would have an avatar somebody that represents yourself in this world. Ah, and because it’s an avatar you can equip that avatar with things like um that we would have in the real world for instance like maybe hats in in hoodies and shoes and stuff like that now those shoes could be Nike shoes.

22:16.12
Chad Horn _ Devour
Okay.

22:30.45
vigorbranding
But only if they came from the Nike place that has been verified on the blockchain is that correct. So I think one of the things that becomes difficult for people to connect in the restaurant world is great I can’t eat a digital hamburger. So why would I even want to be in.

22:33.58
Chad Horn _ Devour
More Yeah yeah.

22:47.32
vigorbranding
The metaverse as a restaurant brand.

22:48.75
Chad Horn _ Devour
And the answer is most restaurants probably don’t now if we look who is making investments in the metavers. They’re kind of giving an indicator to other restaurants like what should I be paying attention to here. So Mcdonald’s Panera bread registering. Trademarks for virtual properties like wait a minute this sounds familiar right? again. Internet the the the rushtick grab that perfect domain name right? The wwwww dot whatever dot com that’s kind of happening now. So of all the things a restaurant should pay attached about that. It’s. Butverse. It’s probably that it’s like what do I need to own regarding my own brand in this new world talk to a lawyer. There’s some good ones out there or about what kind of trademarks and registrations you should do to make sure your brand is always going to be there for you in the metaverse. Maybe not. You know this year next year if you if it’s too soon for you to really jump into all that technology but five years ten years right that that’s worth paying attention to right now for other restaurants and that might think oh you know what I want to I want to take advantage of whatever is there in that technology to engage my guests. Like you said you can’t get a burger in the metavers but you can create a virtual restaurant. You could create an ordering experience. So someone could come into your virtual restaurant. Do the click the right buttons engage in the right way and maybe door dashhes bringing that guest a burger in real life.

24:16.67
vigorbranding
Um, yeah, So that’s an interesting thought too. I mean I think about if if I think about ready player One I mean there are battles that can be had. You can go to a whole island where it’s just war all the time. And if somebody like kills you you lose all of your currency in the space which in that movie is just like going bankrupt in the real world Too. I mean it’s it’s devastating. Um, but with that you would lose life So I almost see a world too where a ah, let’s say a sweetgreen you could go to a sweetgreen and reup your.

24:39.26
Chad Horn _ Devour
Right.

24:51.50
vigorbranding
Your digital virtual health bars. Um, even if you’re not literally eating the salad. Um, it might align with the brand. So the the imagination is the limit I think with the metaverses especially as it gets more and more traction and with how much innovation face or Meta is putting into the technologies of.

24:52.65
Chad Horn _ Devour
Right.

25:10.94
vigorbranding
Connectivity So it doesn’t always have to be the oculus glasses the 3 D or virtual reality glasses like they’re talking about almost like an augmented reality glass system as well And so it’s going to be really exciting to see how this unfolds. Um, so I feel like we’ve saved the best for last here. Let’s talk about devour so you’ve you’ve talked a lot about crypto and Nfts and metaverses and blockchain and all of that What is devour doing because you guys are ingrained in this this this merger of restaurant and what we’ll just give a very high level word of crypto world.

25:45.69
Chad Horn _ Devour
Yeah, and ah I’ll start with saying that remember like earlier I said like a few years ago I would have been no that will never be me doing anything in like this in this space but in ah early Twenty Twenty I started paying attention to crypto and followed a few. Coins and tokens and got invested is like okay that made me start to pay attention more and then I followed what was going on and and last last year was absolutely nuts for what happened in the world of crypto so I started learning more and paying more attention I realized okay Blockchain it’s not it’s not a fad it’s not going anywhere. Going to transform the world transform every industry out there and so it’s only a matter of time before that transforms restaurants and my cofounders felt the same way. Um, that like okay this is early this is early most restaurants are going to be doing something with. Crypto and nftps. You know for a year at least but some will and the bigger brands will and it’s only matter of time before it just completely changes everything so we’ve looked at our background and our experience like okay, we care about this industry a lot. We’ve spent our whole careers in in. Tech side of it right? So we’ve worked with operators understand the chaotic nature of restaurants but we also get the tech I’ve done integration partnerships for most of my career. So. It’s like gosh if there was going to be a team that would be able to help restaurants navigate this crazy always evolving world. Well. And have their best interest and able to think about all the practical considerations. It’s going to be us so we we set out to do that and that’s what devour was is right? We started with a token because we knew eventually especially as part of a larger. Um. Ecosystem of technology that restaurants can use it. It is cool. It will be cool to be able to earn crypto as you dine at your favorite restaurants and then pay in that currency, especially as ah, kind of an add on to n ifp kind of experiences that that’s really cool. So. That’s where we started and we moved on to and nfps so we now have technology that makes it exceedingly easy. So we think about the big problems. We solve for restaurants. The biggest one has to be the fact that only one percent of the restaurant’s customers knows it knows how this stuff works that has ever even.

28:15.76
vigorbranding
So.

28:19.16
Chad Horn _ Devour
Thought about owning an Nfd or has it Crypto. So. The first thing we solved was making it accessible to the other 99%. So anybody who can use an app on a smartphone can get an nfp and they might not even realize they got an nfd but they hit the button and they got an Nfd. Utilizing all that blockchain technology is just in the background so they don’t have to worry about the complexity and so that we’re out there now working with brands figuring out what kind of real world Opportunities problems. Can we solve with the technology What kind of guest experiences. Can we create in. Like I mentioned earlier. The fundamental things are there having a really valuable experiences enabled by other technologies that restaurants already use and then integrate those technologies with the blockchain so that that authentication and Np doesn’t Bog down operations. It happens seamlessly to. Make sure that it actually works in the real world.

29:15.21
vigorbranding
Um, yeah I think um, it’s a good point that you make Nftts have it exploding globally but it still does have a very low I don’t want to say adoption rate. But I think knowledge like awareness rate here stateside.

29:28.48
Chad Horn _ Devour
Here.

29:30.39
vigorbranding
Um, what? how do you think that’s going to grow what’s going to be the spark that actually gets that to move forward because there’s a lot of misconceptions around him right now. Um, or maybe misconceptions is the wrong word. Maybe it’s just it’s just a lack of knowledge right? A lack of awareness.

29:41.11
Chad Horn _ Devour
Yeah, yeah, 2 things I think gaming gaming to me if I look back returns always drives technology forward is always a part of math adoption of technology. So the cool it when the the the coolest. Games I won’t just say metaverse games the coolest games in general start utilizing this technology so that you know teenagers across the country. Are you know begging for you know this or that Nft or crypto for their game then more people will figure it out the other part of it is.

30:13.10
vigorbranding
A.

30:20.14
Chad Horn _ Devour
Big companies like the biggest they all recognize? what’s happening here and they’re going to be doing guest experiences kind of think about like enhancements to their loyalty programs that have Nft components and so again pick the big companies like a Nike you mentioned earlier maybe a disney that the biggest brands.

30:34.82
vigorbranding
Just.

30:39.58
Chad Horn _ Devour
Once they start doing Nftts and they give amazing guest experiences attached to them then people will be very motivated to figure it out. So I think that’s what’s going to drive it or.

30:46.45
vigorbranding
Yeah, so like even like ah like like a red bull. For instance, you know, but if you have red bull nft like you would have access to the stunt people and like be able to hang out and then maybe like an after party things like that the nftt would get you access to those things that would come highly. We should just call red bullol I’m going to remove this from our episode. Actually let’s get in touch with red bull and figure we’re going to pitch that idea. Um, so um, perhaps the most important important question of this entire interview if you had 1 final meal. What would you eat where would you eat it? What would that look like.

31:07.15
Chad Horn _ Devour
Ah, yeah.

31:20.76
Chad Horn _ Devour
Um, my wife and I have 1 favorite restaurant. Um, and it would absolutely be there. We we don’t go there enough maybe once or twice a year, but it would we would be going to sarmasarm a in Summerville Massachusetts It’s just this amazing middle eastern fusion type restaurant that everything on the menu is mindblowing every time it’s it’s absolutely insane. So if you’re anywhere near summerville mass go to sarma.

31:46.80
vigorbranding
I Love it.

31:52.84
vigorbranding
I will write it down next time I’m up that way I try to stay away because I despised the cold but I do have to get up there every once in a while um Chad this has been a fantastic conversation and thank you for enlightening the guests in myself and trying to unpack what is relatively complex but. I think it’s it’s very, um, it’s actually after this episode. It’s very easy to understand so I appreciate that a lot thanks for being on the show.

32:16.57
Chad Horn _ Devour
My pleasure.

 

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