Episode #73
Web3 and NFTs Didn't Die in Restaurants. It Went Underground
This episode revisits the 2021–2022 wave of restaurant Web3 experiments—Taco Bell, McDonald’s, Burger King, Applebee’s, Chipotle, Bored & Hungry, and Starbucks Odyssey—and explains why none are still running by 2026. Paul Molinari argues the failures stemmed from being marketing campaigns instead of products, offering ownership without useful utility, inviting speculation that undermined loyalty, and adding customer friction through wallets and other crypto steps. He then spotlights Blackbird , founded by Ben Leventhal (Eater, Resy), which quietly uses tokens and NFTs under the hood to power a shared cross-restaurant currency ($FLY) and a payments product (Blackbird Pay) charging a flat 2% transaction fee. The takeaway: focus on outcomes like fee savings and portable loyalty, not Web3 vocabulary or architecture. Visit: Popcorn GTM at https://popcorngtm.com 00:00 NFT Restaurant Mania 02:10 Early Brand Stunts 04:25 Bored Ape Burger Reality 05:39 Starbucks Odyssey Rise 08:40 Why Web3 Loyalty Died 09:16 Four Causes of Death 14:57 Two Ideas Survive 15:57 Blackbird Explained 17:58 Payments and Network Effects 21:51 Does Blockchain Matter 23:02 Operator Vetting Playbook 25:18 What to Watch Next 26:22 Final Takeaways

