The evolution of blockchain in the food industry started with establishing a Bitcoin Pizza Day and is now making its way into the Metaverse.
Cryptocurrencies and the food industry are deeply rooted, one in the digital realm and the other physically. Going back to when crypto first emerged, the first real-world use case for Bitcoin (BTC) was about food. On May 22 2010, Laszlo Hanyecz made the first documented commercial BTC transaction by purchasing two Papa John’s pizzas for as much as 10,000 BTC.
That day is now celebrated as Bitcoin Pizza Day in the crypto calendar. The event in itself has become an annual celebration, taking advantage of the marketing opportunities of restaurant chains and crypto firms. However, Bitcoin Pizza Day, in addition to marking Bitcoin’s debut as a medium of exchange, also kicked off crypto’s relationship with the food industry.
Appetizing Altcoins on Crypto Exchange
Despite Bitcoin Pizza Day, the crypto world has always seemed to embrace food-related fads. Take a look at any “dead coin” list and you’ll find plenty of examples of tokens that sound good, including Baconbitcoin, Onioncoin, and Barbequecoin. Pizzacoin still appears on Coinmarketcap.
Like most projects that piled into the initial coin offering (ICO) wagon, these tended to be tokens without any underlying technology to support them. However, the advent of the DeFi era brought to the table a fresh batch of food-related protocols, many of which have evolved to this day. SushiSwap and PancakeSwap are the most obvious examples.
All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.