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NFTs
BusinessBanking & Finance

From actor Louis Koo to Michelin-star restaurateurs, Hong Kong businesses are turning to NFTs to keep customers hooked

  • Hong Kong business owners are embracing NFTs to keep foodies, movie fans hooked
  • New NFT project enables diners to get the top table, without the wait

Reading Time:3 minutes
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‘With [NFTs], we can now tap into the creator economy and generate additional value for the restaurateurs and chefs,’ says art collector Alan Lo. Photo: SCMP Handout
Georgina Lee
Hong Kong business owners are increasingly looking to non-fungible tokens (NFTs) to help monetise their brands and reward customers and staff.
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A local restaurant group has teamed up with a blockchain investor to create a marketplace for Michelin-starred tables and cut out the queue.

Jia Group, the owner of AndÕ, Louise, Mono and Duddell’s, which have all received one Michelin star this year, has partnered with Jehan Chu, the founder of blockchain-focused venture capital firm Kenetic, in an NFT project called Gourmeta.

Gourmeta’s co-founders, Yenn Wong, chairwoman of Hong Kong-listed Jia Group, and her husband, art collector Alan Lo, did a soft launch in May by auctioning off several tables – some with direct access to the head chefs. The highest bid was US$1,218 for an NFT entitling the winner to a reserved table for six.

“The restaurant business is capital-intensive, with thin margin and high costs. People get involved in it primarily as they are doing what they are really passionate about,” said Lo. “But with Web 3, we can now tap into the creator economy and generate additional value for the restaurateurs and chefs.”

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SCMP Explains: What are NFTs?

SCMP Explains: What are NFTs?
A new iteration of the internet based on decentralisation, blockchain and token-based economics, Web 3 promises to release the value of digital data back to the owner.
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