,China

McDonald’s releases first NFT, launches new flagship restaurant

188 of the digital tokens will be given to some company employees and customers.

McDonald’s China has launched non-fungible tokens (NFT) and revealed plans to ramp up its expansion by next year.

The token, referred to as a “Big Mac Cube,” is based on the shape of the fast food chain’s eight-floor headquarters building in Shanghai’s central business district West Bund in southwest Xuhui.

McDonald’s China plans to distribute 188 NFTs at its newly opened Shanghai restaurant, located within the said headquarters,  to some company employees and customers.

“McDonald’s is a young and trendy brand that has always paid attention to fashion trends and cutting-edge technology,” McDonald’s China chief executive Zhang Jiaying said in a media release.

Investopedia defines NFTs as “cryptographic assets on blockchain with unique identification codes and metadata that distinguish them from each other,” which “cannot be traded or exchanged at equivalency.”

McDonald’s flagship China store can also serve as many as 200 customers and is home to Hamburger University, a training facility set up to train restaurant managers, middle managers and owner-operators.

Join QSR Media Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Lim Hee Liat and Chia Cher Khiang stepped down from their roles in the company after they were charged under Singapore’s Securities and Futures Act.
It previously announced it will be shutting down or suspending the operations of around 300 restaurants.
The owners of the Wagas business are seeking a valuation of US$800 million to US$1 billion or more.
The chain also launched its own ready-to-eat items under its own brand 7-SELECT.
It is also getting a majority stake in the firm that owns bubble tea chain Milksha.
Over eight neighbourhoods will be catered for by the new site.
The partnership will help Zomoz scale to more than 300 retail and cloud outlets pan India over the next 30 months.
Affected employees would be redeployed within the group.
The American seafood chain has 21 locations in Singapore.