Block Says Grab Some Bitcoin With Your Shake Shack Burger
Fast Food Has Taste for Blockchain
Promotions are nothing new for the fast-food industry, which often includes limited-time menu options and similar offers. As companies look to reach a younger audience, this can sometimes include the use of new technology to boost consumer interaction.
The latest promotional trend involves blockchain technology such as cryptocurrency and non-fungible tokens (NFTs). Burger King (QSR) gave customers the chance to win one bitcoin (BTC) with eligible promotions last year, while McDonald’s created an NFT to coincide with the 40th anniversary of the McRib sandwich. Now, Shake Shack (SHAK) is partnering with Block (SQ) in a Bitcoin promo.
Shake Shack’s Bitcoin Rewards
According to Shake Shack executives, it is offering a cash-back rewards program involving Bitcoin as a way to explore if customers would like the option to pay in crypto. In order to participate, customers must use Cash App’s debit card that’s known as Cash Card. Cash App is a popular digital payment service offered by Block, which is run by Jack Dorsey, who co-founded Twitter (TWTR).
Qualifying purchases using the card at Shake Shake will then earn 15% of the order amount back in bitcoin. The plan is to run the promotion through this month’s mid-way point. Shake Shack maintains this promo will make people more likely to use cryptocurrency.
How Block’s Dorsey Sees Crypto
Jack Dorsey co-founded Block in 2009, several years after the Twitter platform began its journey. He has been outspoken in his support of Bitcoin, and expresses hope the digital currency could play a role in achieving world peace. Dorsey has compared Bitcoin to the early stages of the internet in terms of its transformative potential.
Meanwhile, Shake Shack notes it’s a sort of guessing game when running promotions and investing in different areas. Executives explain they look to place bets on “meaningful” things in order to avoid wasting resources. Buying a burger because you’re hungry is well established — getting a side of bitcoin is the flavor of the month.
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