Blackbird Labs Raises $24 Million for Crypto-Powered Restaurant Loyalty App

Blackbird Labs, a cutting-edge software and loyalty program created to use blockchain technology to connect restaurants and customers, just raised $24 million in a series A fundraising round. Andreessen Horowitz (a16z), a prominent venture capital company, was the driving force behind this substantial investment.

Blackbird’s distinctive strategy centers on giving clients NFT subscriptions. Customers just touch their phones on an NFC scanner to generate a non-fungible token (NFT) membership when they “tap in” at a restaurant using Coinbase’s Layer-2 Base blockchain.

According to a press release, these memberships provide a variety of alluring benefits and insider privileges, such as access to off-menu items and an SMS concierge service.

The Decentralized Vision Behind Blackbird

Although CEO Ben Leventhal, co-founder of Resy, and Blackbird’s links to the restaurant sector have drawn notice, the company’s architecture is firmly based on blockchain technology and decentralized principles. Additionally, diners have the chance to win fungible $FLY tokens. Blackbird’s website explains some of the dynamics through its “Flypaper.”

“Blackbird will be the first decentralized platform built especially for the hospitality industry,” as stated in the Flypaper. “Unlike legacy rewards marketplaces which maroon and lock earned points, the Blackbird protocol will eventually allow users to take the points they earn anywhere they go on public blockchains.”

Blackbird and Privy have teamed up to streamline the customer experience. Users may quickly access a self-custodial wallet by signing in with their phone number without having ever used a cryptocurrency wallet.

About 80 eateries in New York City have already signed up with Blackbird Labs, which made its debut a few months ago, demonstrating the attractiveness of its avant-garde strategy.

General partner at a16z crypto Arianna Simpson stated that “Web3 enables a powerful, new way for restaurants and guests to connect, making each dining experience unique and more meaningful.” This development comes at a time when some businesses are struggling to maintain customer engagement while deploying rewards-based systems through NFTs.