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Empire
Why Resy Founder is Building in Crypto | Ben Leventhal & Li Jin
Nov 7, 2023
Ben Leventhal, co-founder of Resy and Blackbird, and Li Jin from Variant Fund discuss the intersection of the consumer market and crypto. They explore the potential of crypto as a new computing platform and its impact on ownership. Other topics include passive CRM for restaurants, global token compensation, loyalty as a use case for crypto, emotional attachment to restaurants, and creating a marketplace for restaurant reservations.
56:27
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Quick takeaways
- Treating crypto as an enabling technology, rather than the primary focus, allows consumer builders to create new value by improving existing use cases like loyalty programs.
- Building successful consumer crypto applications requires thoughtful tokenomics and utility that genuinely address human needs beyond speculation.
Deep dives
Blackbird: Redefining Loyalty Programs in the Restaurant Industry
Blackbird is an innovative app that is redefining loyalty programs in the restaurant industry. The app allows users to earn points by checking in at participating restaurants, which can be redeemed for rewards. The focus is on creating a seamless user experience and improving customer retention and engagement for restaurants. Blackbird utilizes NFTs as membership cards, giving users ownership of their loyalty points and enhancing the overall user experience. The app also explores the potential of crypto as a new computing platform, offering new possibilities for consumer builders and applications. While there may be skepticism towards consumer crypto, Blackbird aims to leverage crypto as an enabling technology rather than the primary focus. The team is patient and focuses on building utility and value, gradually opening up the ecosystem and considering the future potential of token ownership. With a focus on restaurants for now, Blackbird aims to provide new opportunities for connectivity between consumers and restaurants, enhancing customer experiences and revolutionizing loyalty programs in the industry.
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