Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
In its latest campaign, Chipotle seeks to distribute $200,000 worth of prizes in multiple cryptocurrencies such as Bitcoin, Ethereum, Solana, Avalanche, and Dogecoin.
America’s fast casual restaurant Chipotle is among the latest to start accepting cryptocurrency payments at its outlets. As part of its new “Buy the Dip” promotional campaign, Chipotle is giving its customers the chance to win free cryptocurrencies worth $200,000, including Bitcoin, Dogecoin, and others.
The Colorado-based fast food company asked customers to play a game on its promotional website with each player getting three attempts every day. The entire promotional event will carry out throughout the week. However, Chipotle has distributed these prices across multiple cryptocurrencies.
By this Saturday, Chipotle customers will receive its customers can win $10,000 worth of Bitcoin (BTC), $5,000 worth of Ethereum (ETH), $1,250 worth of Solana (SOL), $3,000 worth of Avalanche (AVAX) and $3,000 Dogecoin (DOGE).
Five customers every day will get $2,000 in Bitcoin. Another five customers will get $1,000 in Ethereum (ETH), five will get $250 in Solana, and 20 fans each will get $150 in Avalanche or $150 in Dogecoin.
In total there are 650,516 prizes available in the game. As of July 31, all Chiptole Rewards members will also get 1-cent guac or queso blanco. All the crypto prizes will be deposited to Coinbase accounts of verified users.
Speaking of the development, Chipotle chief marketing officer Chris Brandt said:
“We want to build the next generation of Chipotle fandom by connecting with the Web3 community. “We’re excited to bring positivity to the crypto conversation by empowering fans to ‘Buy The Dip.’”
Furthermore, Chipotle has also partnered with payments app Flexa in order to start accepting 98 different cryptocurrencies as payment across its 3000 restaurant outlets. Chipotle started this facility in the last month of June. Whosoever paid using the Flexa-enabled app got a 10% discount over the period of one month.
The Crypto Push
This is not the first time that Chipotle has taken a crypto initiative. Last year in April 2021, the restaurant chain gave away $100,000 in BTC as part of the promotion around National Burrito Day. Also, Chipotle is not the first restaurant to announce this kind of crypto giveaway.
Last year in November 2021, fast-food giant Burger King partnered with Robinhood to giveaway BTC, ETH and DOGE to customers.
This shows that restaurants have been leveraging the crypto fad to attract customers. Furthermore, it also shows that businesses have become comfortable with accepting cryptocurrency payments at their outlets.