Shiba Wings, an Australian fast-food diner that opened in March 2023, has seen a decline in crypto payments despite its Shiba Inu branding. The restaurant mostly trades in fiat, with crypto payments amounting to just $34 (50 AUD) per week on average, according to the pseudonymous owner “Elijah”. However, Elijah believes that crypto payments are not the focus of the business and are merely an add-on feature. He plans to leverage the Shiba Inu brand to create a fast food franchise that could compete with McDonald’s.
Elijah also announced an upcoming NFT release that would allow holders to own a share of the business itself, giving them quasi-shareholder status and quarterly dividends. According to a survey by Crypto.com, 55% of Australian merchants and consumers were interested in purchasing goods and services in cryptocurrency. Still, Elijah advises his customers not to spend too much crypto on food, as he believes it is not a practical use case for the asset.