Details

Last Funding Type

Pre-seed

Industries

Blockchain,Enterprise Software,Loyalty Programs,Marketing

Founded date

Jun 15, 2021

Number Of Employee

1 - 10

Operating Status

Active

Legal Name

Peep Connect Inc.

Also Known As

Peep

The use of NFTs in the restaurant business is still in its infancy. However, web3 is quickly gaining popularity and has the potential to revolutionize how we eat out. In the current landscape, restaurant owners create and market their NFT using **Opensea**, and then users have to find their NFT and create a wallet to collect these NFTs, which have no direct benefits. This is a problem, as we are currently seeing users lose interest in NFTs because they do not understand their value or how to use them effectively.

[According to Square](https://squareup.com/us/en/townsquare/restaurant-trends#:~:text=%236.-,Restaurants%20are%20rethinking%20experiences%20to%20build%20deep%20customer%20loyalty,-Restaurants%20are%20coming), **Restaurants are rethinking experiences to build deep customer loyalty and drive sales. This is especially important for restaurants trying to create a differentiated experience in their category, which is the majority of restaurants today. The goal is to create an experience that makes customers feel like they are part of something special and exclusive. NFTs can provide this experience by giving customers access to experiences they can’t get anywhere else.**

[**Starbucks recently announced that they are adopting web3 as a reward system**](https://www.inc.com/jason-aten/starbucks-is-about-to-make-a-controversial-change-to-its-rewards-program-some-customers-are-going-to-love-it.html). This means that many non-crypto natives will be able to experiment with crypto assets without missing out on the most critical aspect of blockchain; decentralization and trustless systems. In addition, by providing users with the ability to use their NFTs as utilities, Starbucks would be able to generate more customer loyalty and engagement. This integration will also allow Starbucks to expand its reach into different markets where it previously had no presence. This will be the beginning of insight and metadata that NFTs will offer as a social currency to businesses.

We believe that whoever aggregates and provides a seamless user experience will move the space forward like it needs.