How can the Metaverse help the food industry?
Cryptocurrencies and the food industry might not seem like the most intuitive pairing — one based in the digital realm and the other firmly rooted in the physical. But going back to the earliest days of crypto, the very first real-world use case for Bitcoin (BTC) was food-related. On May 22, 2010, Laszlo Hanyecz enacted the first documented commercial BTC transaction, buying two Papa John’s pizzas for the princely sum of 10,000 BTC.
That day is now enshrined in the crypto calendar as Bitcoin Pizza Day. By itself, the event has ended up becoming an annual celebration with restaurant chains and crypto firms alike taking advantage of the marketing opportunities. However, as well as marking Bitcoin’s debut as a medium of exchange, Bitcoin Pizza Day also kicked off crypto’s relationship with the food sector — one that’s beginning to flourish and is set to solidify further as Web3 and the Metaverse take over.
Bitcoin Pizza Day notwithstanding, the crypto world has always seemed to embrace food-related fads. A glance through any list of “dead coins” and you’ll find plenty of examples of culinary-sounding tokens, including Baconbitscoin, Onioncoin and Barbequecoin. Pizzacoin even still shows up on Coinmarketcap.
Like most projects that piled onto the initial coin offering (ICO) bandwagon, these tended to be tokens without any underlying tech to support them. However, the advent of the DeFi era brought a fresh batch of food-related protocols to the table, many of which thrive to this day — SushiSwap and PancakeSwap being the most obvious examples.
Related: When and why did the word ‘altcoin’ lose its relevance?
Names aside, over the years between the ICO craze and the bull market of 2021, there’s been plenty of other development
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