BAYC’s Bored & Hungry Restaurant Stops Accepting Crypto

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As crypto markets continue to tumble with Bitcoin briefly dipping below $20,000 earlier this month and Ethereum nearing $1,200, recently opened Bored Ape Yacht Club restaurant Bored & Hungry has reportedly stopped trading. accept ApeCoin and all forms of cryptography.

The 1,700 square foot fast food joint in Long Beach, Calif., was opened by Los Angeles restaurateur Andy Nguyen in April to show off the branding and marketing potential of BAYC and NFTs. Nguyen’s Bored Ape #6184, which he purchased for US$267,000, and two mutant monkeys he has in his possession are proudly displayed on the food packaging and surrounding decor.

Opened at the height of Web3 optimism, the restaurant once displayed food prices in US dollars as well as some cryptocurrencies on the menu. However, just two months after becoming the first restaurant to accept ETH and ApeCoin, it was reported that recent volatility in the crypto markets has temporarily forced the restaurant to stop accepting crypto.

Update: After this story was published, co-founder Kevin Seo followed up with a comment. “We tested new systems for better transactions. We have just moved to a more direct system that we implemented at ApeFest. A backup system has now been implemented at Bored & Hungry so that there is no downtime. We use this as a learning opportunity to increase the training of our staff on new technology. In the world of Web3, technology changes day by day, so we always try to stay at the forefront of innovation and evolve.

In addition, Pharrell Williams has been appointed Chief Brand Officer of Doodles.

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