TORONTO – The NBA is using them to sell highlight videos. Jack Dorsey, founder of Twitter, turned the very first tweet into one and is selling it at auction for a couple cool millions. Now, Pizza Hut Canada has joined the “non-fungible token” cryptocurrency craze to sell pizza — sort of.
Pizza Hut Canada announced the debut of 1 Byte Favourites, the world’s first “non-fungible pizza (NFP).” The company will offer the 8-bit slices (8 bits = 1 byte) for approximately the cost of one real bite of pizza, or 0.0001 ETH (the cryptocurrency of Ethereum). The offering will feature Hawaiian, Pepperoni, Canadian and Margherita pizzas. Collectors can find 1 Byte Favourites on Rarible, a platform created to sell NFTs, for a limited time.
Non-fungible tokens (NFT) are unique digital files stored on a blockchain (digital ledger). The creation and ownership of media are verified using blockchain technology, allowing original digital creations to become rare and collectible in the same way as trading cards or famous paintings in the physical world, according to Pizza Hut.
“We’re really excited to launch 1 Byte Favourites as an opportunity to give fans another way to get their hands on their favorite Pizza Hut recipes, even if it’s virtually,” said Daniel Meynen, chief marketing officer, Pizza Hut Canada. “It’s a fun way to deliver our Favourites on an emerging platform where people can truly appreciate the perfect pan pizza forever.”
Pizza Hut began offering the NFPs on March 16 and will release a new pizza slice every day “… right when the world is hungriest: lunchtime,” the company said.