In 2020, the company secured $8 million in Series A funding. Observers were curious about the app, which at first glance appeared to be nothing more than a food delivery app. What could possibly make such a low-key idea to accept cryptocurrency as a form of payment for your food attract such a large following within the crypto community? It is the first real step Crypto Eats has taken to allow users to use cryptocurrency as a means of payment in the real world.
The company has bridged the gap and found a way for cryptocurrency to be usable in the real world. It’s an answer that goes beyond its humble beginnings. Crypto eats founder Wade Phillips. Founders of Crypto Eats were frustrated with the lack of real-world use factors for cryptocurrencies for the general public.
The launch of its native token, Eats, offers a 5% discount on its total per order cost to customers who pay in the native token. The initiative aims to use the 1.5 trillion crypto market cap to spur the development of a decentralized food delivery system. In anticipation of the launch of the Eats, token analysts have predicted it will reach a 1 billion market cap within 6 months with its Series A investors unable to sell until 2025. With crypto eats becoming profitable by 2023 many private investors have been waiting for the launch to invest.
The market is expected to grow by 20% annually in the next four years with Crypto Eats emerging as the main contender and funding to become the leader in crypto currency-led food delivery.
Cryptocurrency holders are looking for new ways of spending their digital currency in the real world, with first-time users expected to boost the market cap of Crypto Eats, which announced over 100,000 customers had signed up on their website to download the app on launch day.
Successful beta testing took place in the summer of 2021 in and around London, with Nando’s and McDonald’s participating. By taking its time and not rushing the development stage, the owner claims that the app has been a resounding success with its 1,000 private users who have used and tested the app to improve efficiency and customer service. Using algorithms based on blockchain technology, Crypto Eats is now able to compete head-to-head with Uber eats and Delivaroo, ensuring an efficient food delivery service. more drivers at a speed never seen before in the business and further staff at Crypto Eats.