Michael Symon, a Cleveland-area chef, is joining a soon-to-launch NFT and cryptocurrency venture called the Crypto Culinary Club.
The NFT (non-fungible token) will double as an entry pass into an international dinner club that offers members the opportunity to dine with celebrity chefs at numerous restaurants.
Iron Chef host and John Wick actor Mark Dacascos is now serving as the chairman on the Crypto Culinary Club with his son Kapono, who co-founded the company with its president, Jackson Hren.
Kapono, who is also CEO at Crypto Culinary Club, said this NFT sets itself apart by offering a service.
“Ninty-nine percent of NFTs are trash. The 1 percent that are utility (are the ones that) matter,” Kapono said. “Most dining clubs are at one central location, but we’re going to be hosting events all over the world.”
“I think what it’s like is coming to our house for dinner,” Mark said. “It’s not like the pace of Iron Chef, but it’s like the inside sneak peek of what’s going on behind the curtains.”
The Crypto Culinary Club plans to launch on Jan. 27. The first event, “Rooftop Champagne and Caviar,” will be hosted in Los Angeles by Michael Symon in March.
“We’ll do something that’s very fun and unique not only to me, but to Los Angeles,” Symon said. “I think we’ll bring our own unique style, but we’ll also make it like the city that we’re in at that time. I want to gather things around California to put on a very California-product-inspired dinner showing how I like to interpret food.”
Symon owns Mabel’s BBQ on East 4th St. Two of his acclaimed restaurants, Lola and Lolita, closed in Cleveland after years in business. His B-Spot restaurants also closed in the area between late 2020 and mid 2021.
He owns several other restaurants throughout the country, such as Angeline in New Jersey, Mabel’s in Las Vegas, Roast Detroit in Detroit, and Bar Symon, which is in multiple airports.
The full group of restaurateurs on board are the following: Esther Choi, Kristen Kish, Brooke Williamson, Jose Garces, Shota Nakajima, Jet Tila, Alan Wong, Cat Cora, Michael Voltaggio, Eric Adjepong, and Curtis Duffy.
No plans are listed for Cleveland at this time, but Crypto Culinary Club’s future events will be scheduled based on member demand, founders said on a call. Choi’s event will follow several weeks after Symon’s dinner in Los Angeles.
Customers can acquire Crypto Culinary Club’s NFT through Coinbase and other cryptocurrency exchange platforms for 3 ethereum (ETH), which as of Jan. 2023, is valued at more than $4,200. The membership will also be available to purchase directly from the Crypto Culinary Club’s website for a one-time fee, which is set to range between $3,500 to $4,000, Kapono said.
Because the NFT is tradable, the value of the Crypto Culinary Club membership can increase or decrease. If the value of Ethereum changes value, then so will the Crypto Culinary Club’s NFT. As of Jan. 13, ethereum is valued at less than $1,500, down from early 2022 when it opened the year above $3,000.
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