Food
 How the Restaurant and Food industry can tokenize food as D-commerce
Apr 08, 2024

How the Restaurant and Food industry can tokenize food as D-commerce

Viral trends on TikTok attempt to explain this “silent depression” due to a surge in inflation, which has resulted in food costs 2-3x more than 2-3 years ago.

Viral trends on TikTok attempt to explain this “silent depression” due to a surge in inflation, which has resulted in food costs 2-3x more than 2-3 years ago.

Food Affordability Problem

  • 66% of Americans struggle to afford groceries due to inflation.
  • 53% have adjusted budgets or shopping habits due to rising interest rates.
  • 82% use coupons and 34% use retail apps to save money.
  • 77% prefer in-store grocery shopping, with a preference for local stores.
  • Groceries represent a significant portion of consumer expenditure, following housing and transportation costs.

Wasted Food Problem

Amount of Food Wasted in America:

  • 108 billion pounds of food wasted each year
  • 30-40% of the food supply
  • $161 billion worth of food is wasted each year
  • Enough food to feed 200 million people

Sources of Food Waste:

  • Households (43%)
  • Restaurants and food service (39%)
  • Farms (18%)

Food Affordability Solution

Food waste is a major problem in the United States, with an estimated 108 billion pounds of food wasted each year. This not only hurts the environment but also represents a significant loss of money for restaurants and other food businesses.

One way to reduce food waste is to tokenize it as a LUV NFT (non-fungible token).

The solution is simple, take a picture of the food that will be converted into an LUV NFT. Here’s how it works:

  1. Restaurants and food businesses tokenize their surplus food as LUV NFTs.
  2. LUV NFTs are airdropped to local residents in need or auctioned for a fraction of the original cost to create a new crypto income stream for businesses in the food industry to offset increasing food costs.
  3. Recipients of a LUV NFT can go to a participating local business to pick up food at the end of the night.
  4. To claim their food, recipients simply show their LUV NFT with a What3Words address, date, and time to claim the food.

Purpose Marketing Campaign

Many small businesses in the food industry are failing because they don’t have the capital to spend thousands a month on digital marketing campaigns to compete with funded businesses.

As a solution, residents who want to win free tokenized LUV NFT food airdrops must promote small businesses on social media participating in the solution.

Benefits of Tokenizing Food Waste as LUV NFTs:

  • Reduces food waste and its negative environmental impact.
  • Saves restaurants and food businesses money.
  • Helps to feed residents in need.
  • Provides organic marketing for participating businesses.
  • We can feed the homeless by paying volunteers in crypto to drive around and hand out food every night.

How to Get Involved:

  • Restaurants and food businesses can subscribe to ATL5D Discord to tokenize their surplus food as D-commerce.

By working together, restaurants, food businesses, and residents can reduce food waste and help to feed those in need.

Promote this solution, tag local food businesses, politicians, and blockchains to start solving this problem today.

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