The Bored Ape Yacht Club themed restaurant ‘Bored & Hungry’ made headlines earlier this year for being the first restaurant to fully embrace crypto and NFT culture. The joint also announced that it will accept Bitcoin, Ethereum, ApeCoin and other cryptos as means of payment. However, the Los Angeles Times reported that the market crash was taking its toll on the restaurant and that they no longer accept cryptos.
Bitcoin is hovering around $20,000 while Ethereum is hovering around $1,200. The crypto crash has wiped out profits from the restaurant, which currently only wants to take fiat, LA Times reported.
Also Read:Publicly Listed ‘Crypto Payment’ Company Lays Off 40% Of Its Staff
The leading daily reported that all signs in the restaurant proudly proclaiming they accept cryptocurrencies have been removed. It also reported that their marketing words Bitcoin, Ethereum and ApeCoin are no longer seen at the joint. They quoted a restaurant employee who replied if they accept cryptos as: “Not today, I don’t know.”
News of the restaurant not accepting cryptos spread like wildfire in the crypto and NFT space. The word on the street remained negative, hurting the prospects of being an “NFT and crypto friendly” restaurant.
But the owner, Andy Nguyen responded on Twitter today, assuring that the restaurant still accepts cryptocurrencies. He called the recently published articles against the restaurant “not accepting” cryptos “fake news.”
Also read: Nexo breaks silence on allegations of stolen funds
“Lmao! fake news! Why on earth should we stop accepting crypto at @BoredNHngry? We would just adjust crypto prices to USD,” I tweeted. The owner assured guests, “We will still and always accept ETH & ApeCoin in our store.”
Also read: Did the Celsius Network CEO try to flee the country?
Did people pay cryptos at Bored Ape Yacht Club Themed Restaurant?
LA Times had also revealed that not many diners at the restaurant pay with cryptos, choosing cash and cards instead.
“Yes, Ethereum is a currency in a way that you can exchange NFTs and stuff. But in terms of buying food and stuff, maybe not. People want to hold onto their Ethereum. They won’t want to use it.” one crypto enthusiast told the leading newspaper.
However, the restaurant has not disclosed how many transactions have taken place with cryptos at the outlet.