According to CoinDesk, Blackbird Labs, an app and loyalty program aiming to connect restaurants and customers through its crypto-powered app, has raised $24 million in a series A funding round led by venture capital firm Andreessen Horowitz (a16z). The app is built on Coinbase's Layer-2 Base blockchain and allows customers to create a non-fungible token (NFT) membership by tapping their phone on a near field communication (NFC) reader. Blackbird memberships offer rewards and insider perks such as off-menu items and SMS concierge.
The project has gained mainstream attention, partly due to its CEO, Ben Leventhal, who is also a co-founder of the dining network Resy. Blackbird's blockchain-based infrastructure and decentralized ethos allow diners to earn fungible $FLY tokens. The company's website links to a 'Flypaper' that outlines some of the mechanics, stating that Blackbird will be the first decentralized platform built specifically for the hospitality industry. Unlike traditional rewards marketplaces, the Blackbird protocol will eventually enable users to take their earned points anywhere on public blockchains.
Blackbird has partnered with Privy, allowing users to sign in with their phone number and automatically gain access to a self-custodial wallet without needing a crypto wallet beforehand. The app launched a few months ago and has already signed up around 80 restaurants in New York City. Arianna Simpson, general partner at a16z crypto, said that Web3 enables a powerful, new way for restaurants and guests to connect, making each dining experience unique and more meaningful. This development comes as several companies have attempted rewards-based systems via NFTs but struggled to maintain consistent usage.