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Bored & Hungry in Long Beach will no longer accept cryptocurrency – Robb Report

By on June 24, 2022 0

The dream of cryptocurrency‘s most ardent evangelists of becoming a real currency — not just a speculative asset — has taken a hit with this year’s wild market swings. Even some of his boosters are temporarily withdrawing.

Bored & Hungry, a burger restaurant in Long Beach, California, launched a few months ago claiming to be the first restaurant to accept Ethereum and Apecoin. Except that now the establishment does not seem to accept either form of payment, according to the Los Angeles Times. On a recent afternoon, the newspaper’s Brian Contreras visited the restaurant and saw that the prices were only listed in US dollars, no cryptocurrency allowed.

Restaurant owner Andy Nguyen did not respond to several emails from the Los Angeles Time ask about the change, but an anonymous employee told Contreras that the store does not accept crypto. However, they declined to say when the change happened and if it was permanent.

Bored & Hungry, which opened in April, is themed around the Bored Ape Yacht Club NFTs you’ve probably seen all over social media and late-night TV shows. The versions are owned by celebrities such as Paris Hilton, Justin Bieber and Snoop Dogg, and Nguyen spent more than $330,000 on those displayed at the restaurant. But just like the rest of the crypto economy, they are now facing market pressure, with the entry-level price of one of the NFTs recently dropping below $100,000 for the first time since. last August, according to Decrpyt, a crypto news outlet.

Luckily for the burger, it seems most of its customers are indifferent to its relationship with crypto. Many of the customers Contreras spoke to didn’t know much about cryptocurrencies — they were there primarily for the food (vegan and non-vegan smashburgers, fries, and soda, among other offerings). Still, it’s not a great look when you ditch the concept that inspired your entire company in the first place. Bored & Hungry may have taken its name a bit too literally and is jumping on the bandwagon of those who are disillusioned with crypto.