Metaverse Article 1: "Feasting in the Fifth Dimension"

The Metaverse is defined as a virtual shared space, created by the convergence of virtually enhanced physical reality and physically persistent virtual space. It is the synthesis of all virtual worlds, augmented reality, and the internet. As the Metaverse continues to grow and evolve, it is increasingly being seen as a new frontier for businesses to explore and expand into. Throughout the Meta-Luxe series, we looked at the way luxury brands have utilized the Metaverse to expand their reach — from creating surreal digital experiences to showcase their artistic creativity (such as the Gucci Garden), to recreating luxury experiences that were previously unattainable for the masses (like the Louis Vuitton private flagship store tour). However, it’s imperative to also look at industries that would not be as easily considered transmuted by the metaverse — for example: dining. On paper, the victuals industry seems to have no place in the metaverse. After all, you cannot digitally consume food. However, that does not mean restaurants and food chains should not get a head start to stay abreast of this next technological shift.

The evident method for restaurant brands to utilize the Metaverse is to create unique dining experiences. Although virtual reality is not yet ready for adaptation in restaurants, the technological advancements of augmented reality allow restaurants to provide customers with unprecedented surreal experiences. Marc Routh’s is already testing the technology with his new restaurant, Journey. Located in New York, Journey houses three unique dining experiences under one roof: JOURNEY 360, where the 360-degree projections transport diners from the communal table to five exotic locations — one for every course of the prix fixe meal — from a waterfall in a rainforest to the side of a volcano and then to an underwater shipwreck; JOURNEY Odyssey, where immersive background projections accompanied by live Broadway performances bring diners to a different city around the world with every course; and JOURNEY AR Café, where augmented reality brings the dinner plates to life by projecting three dimension designs on the custom dishware. Routh states that since costs for developing these experiences are immense, immersive dining adaptations are currently only possible within the fine dining realm. However, these ventures serve as experimentation to determine demand for avant-garde eating experiences, potentially paving the way for mass conversion.

The metaverse allows food brands to interact with customers beyond the simple consumption of perishables. It takes marketing beyond the traditional visual posters and video advertisements. In April 2022, Chipotle Mexican Grill launched a Burrito Builder experience on the metaverse platform Roblox. The simulation challenged players to roll a burrito behind a virtual Chipotle countertop. This introduced a fun roleplay-esque way for the brand to engage with its customers that would previously only be possible with the extreme overhead cost of setting up an operation in-store, not to mention the associated physical and geographical constraints. In addition, players had the opportunity to earn Burrito Bucks, which could be transferred to the Chipotle app in exchange for a free entrée in physical stores. This project served as an important milestone for food brands within the Metaverse as it marked the first time a victuals-based company made an interactive experience in the metaverse beyond simple dining, opening the floodgates for future innovation. This also served as a milestone for Roblox as Chipotle pioneered the ability for players to exchange in-experience currency for real-world value on the platform.

One avenue dining brands can better engage with consumers utilizing the metaverse is loyalty programs through NFTs. Many brands already use internal programs to incentivize user loyalty. Starbucks is a great example — every time you use your prepaid Starbucks balance through their app, you are rewarded with two Starbucks stars instead of one. You can then trade these stars for snacks or even a drink. This, in a way, is signing up for a paid membership in the hopes of receiving benefits from the restaurant. Although the practical functionality of NFTs would not be any different than these traditional reward cards, the on-chain nature of the NFT allows the assets to be tradable, as well as truly finite and digitally exclusive. The forerunner in this current market is the Chubby Cattle NFT. Chubby Cattle is a hotpot chain with restaurants all over the states, and they recently launched their Silver, Gold, and Black tier NFTs. Holders of these NFTs can visit restaurants under the Chubby Cattle umbrella and display their NFT to receive a variety of benefits ranging from a complimentary round of drinks/dessert with the Silver tier to a complimentary tasting menu year-round with the Black tier. David Zhao, co-founder of Chubby Cattle, states that the NFT project aims to be a pioneer in creating a community aspect to restaurant rewards programs, as well as a utility aspect towards NFTs. In addition, many rewards programs used in the dining industry offer little to no transparency. Consumers are easily able to pick up someone else’s physical membership card, just as restaurants can easily inflate the exclusivity of a membership tier. With the decentralized nature of NFTs, both concerns are eliminated.

Despite the inability to eat digitally, the metaverse offers new channels of engagement for food brands and the adoption of victuals-based Web3 concepts that may prove crucial in ensuring the industry’s relevance in the metaverse for years to come. The technological revolution of the metaverse is not likely to slow down, and brands that adapt to this technology early on will be well-positioned to take advantage of the opportunities it presents.