As the cryptocurrency market crashed, a Bored Ape themed restaurant Bored & Hungry has stopped taking cryptocurrency as payment. A restaurant called Bored & Hungry adopted the aesthetics of cryptocurrency trends, including adorning Bored Ape cups and plates with non-fungible tokens (NFTs).
The Los Angeles restaurant Bored and Hungry has resumed the use of US dollars as its only form of payment.
The Los Angeles Times reported that when the fast food restaurant first debuted in April, it also accepted bitcoins. However, this was before the historic market crashes that wiped out millions of investor dollars and destroyed entire cryptocurrency coins.
The restaurant’s initial design included plates featuring Bored Ape NFT artwork and walls covered in memes to reflect all the aesthetics connected with the cryptocurrency era. The restaurant made its initial announcement about accepting Ape and Ethereum in April.
FIRST RESTAURANT TO ACCEPT ETH & $APE!!!!!! WE DID IT!!! pic.twitter.com/8DshJ2uI4v
— Bored & Hungry (@BoredNHngry) April 9, 2022
LA Times sent Andy Nguyen multiple emails inquiring about the move, but he never replied. An employee of Bored & Hungry declined to provide more information regarding suspending crypto payments when the publication questioned them.
ETH/USD trades at $1,200. Source: TradingView
Additionally, a staff member told the Times that when Bored & Hungry was first introduced in April, clients did not seem to care and mainly ignored the crypto payment option.
This further raised concerns about when they stopped accepting cryptocurrency and whether the option would ever return.
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Since the massive market collapse, cryptocurrency businesses have begun laying off workers, and Congress has even taken the first steps toward regulating the sector for the first time ever.
According to the story, patrons and buger enthusiasts didn’t exactly appear to be bothered by the restaurant’s U-turn.
“Yes, ethereum is a currency in a way where you can exchange NFTs and stuff … but as far as buying food and all that, maybe not,” a crypto investor told the LA Times.
However, some people simply didn’t understand the emerging form of money well enough to bother with it because of its complexity, while others are eager to hold onto their Ethereum for when the market shifts.
Although the crypto market has fallen, there are still consumers looking to buy cryptocurrencies. Customers are being encouraged by at least one financial advisor to work for a company that has increased employment. It will be interesting to see if Bored Ape serves as more than just a meal for those individuals.
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Featured image from Getty Images, chart from TradingView.com
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