The first cryptocurrency designed specifically for restaurants and the hospitality industry is officially available for buying and selling. Devour Token ($RESTAURANTS) is the first token of its kind solely focused on restaurants and is designed to have utility far beyond ordering food. The ERC-20 tokens are traded on the Ethereum network and accessible via a smart contract.
Devour launched on December 21 and has already created a passionate community around the project. According to the project's developers, Devour has plans for multiple utilities, including NFTs (non-fungible tokens), games, apps, and charitable work through its Devour Foundation.
"Restaurants are the heart and soul of this entire project for us," says Shelly Rupel, one of Devour's founders. "There are more than 10 million restaurant workers in the U.S., and these employees have been hit especially hard by the pandemic. Through the Devour Foundation, our project will help restaurant workers across the country pay for their education, purchase uniforms, and better their lives. We're building a community empowered to give back to those who need it most."
As the project grows, it will partner with restaurants as a platform for branded NFTs, interactive games, integrations into loyalty programs, and more. Rupel says the first restaurant partnerships will occur during Phase 1, alongside the project's first NFT releases and charitable donations.
To help fund the project, a small portion of each buy/sell transaction is set aside for future development, marketing efforts, and charitable giving.