Venly partners with Popsteak to bring diners innovative loyalty program

There’s a new steakhouse opening in Dubai, and the team behind it has a bold new flavor in mind.

“The vision of Popsteak is to provide food enthusiasts with a truly unique dining experience, offering high-quality steaks at the best locations across the globe, starting with our first location in Dubai,” says Raphael Tsitsovits, CEO & Founder of Non-Fungible Solutions (NFS), the Web3 business backing the project. 

“We strive to offer innovative solutions to enhance the dining experience of our valued customers.”

So what exactly does that mean? Well, besides the sleek, modern restaurant setting in a premier Dubai location, and the 100% grass-fed Wagyu steak on your plate, Popsteak has an ace up its sleeve.

“We have decided to embrace blockchain technology and introduce a revolutionary membership program.”

That means that customers who sign up for the restaurant's loyalty program will receive an NFT as their badge of membership. That NFT will confer benefits at all future Popsteak locations across the world.

“Our tokenized membership program offers exclusive access to our restaurants, events, and dinner parties, as well as the opportunity to earn passive income their leasing [of the] membership token.”

“With a focus on community and loyalty, our membership program also includes a rewards pool, where long-time members can claim their share of the Popsteak profits, which is 20% of both royalties and restaurant profits.”

This potential to share in the profits of the restaurant is a concrete realization of one of the key possibilities for NFTs in e-commerce: redefining the customer-brand relationship to acknowledge customers’ ongoing patronage. Is it really right to view a customer that has been steadfastly engaging with a brand for twenty years in the same light as somebody who just happens to walk in off the street? NFT loyalty programs have the potential to address this question. 

What’s more, the membership continues to have its own value as an asset. Tsitsovits explains:

“By utilizing blockchain technology, our membership token becomes a tradable asset, free from recurring fees, that members can lend or transfer to others. This innovative approach also eliminates complicated termination procedures, allowing members to simply sell their token if they wish to end their membership.”

“Membership systems have been the same for the last 20 years. You are not able to sell or lease your membership as a member. We wanted to revolutionize the membership system by making it an asset on the blockchain.”

“Furthermore, we want to bring more trust into the NFT space and show the world what NFTs are able to do. Our goal is to bridge the Web3 world with the offline world.”

That last goal brings Popsteak into perfect alignment with Venly, who is working to onboard the next billion users to Web3, and has supplied the wallet technology to power Popsteak’s membership program. 

“Venly's commitment to user-friendliness and security makes it an ideal partner for our project,” says Tsitsovits.

With the first restaurant set to open in Q3 of this year, Popsteak already has a strong following. Their Discord channel has surged in recent days in anticipation of the release of the membership NFTs for purchase next week, on the 29th of March. 

Registration to enter a raffle for discounted tokens is currently open, and closing on the 28th. It’s a prime opportunity to not only get a taste of some of the best meat on the planet, but also claim one of the first of a new generation of premium membership experiences. 

You can’t argue with that on your plate.

Find out more about Popsteak here.

Register for discounted access here.

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