A Shiba Inu Coin-branded fast-food restaurant will use SHIB’s Doggy DAO to expand and develop its business, it announced.
Welly, an Italian fast-food restaurant that opened in 2021, was revealed to be the SHIB food partnership first teased in a cryptic video from January. Previously featuring a smiling face as its logo, Welly has now updated its branding to incorporate Shiba Inu.
Here’s the rundown of the announcement.
Welly x Shiba Inu Coin
As posted by Welly in a Medium blog, the fast-food store plans to decentralise itself by partnering with Shiba Inu. Through this arrangement, Welly claims the ShibArmy will have a voice in the direction of the business. Part of this will come through the Doggy DAO.
According to Welly, it is:
The first fast-food chain governed and powered by its community through the help of SHIB and its DOGGY DAO.
Little is known about the specifics of how truly ‘decentralised’ Welly will be regarding ownership and decision-making, but we’ll hopefully learn more in the future. As for now, the only detail included is that the SHIB community will help “take part in the deployment of new stores” - suggesting it could choose where new locations will be.
Aside from this, Welly plans to incorporate further aspects of the Shiba ecosystem, including SHIB, LEASH, and BONE. SHIB will likely be used as a payment method, while BONE will form the governance token. According to Shytoshi Kusama, LEASH and Shiboshi NFT holders will gain “exclusive access to perks, discounts and rewards”.
Welly said it plans to track the supply chain, using the Shibarium Layer-2, allowing users to follow the ingredients used.
Of course, both the Doggy DAO and Shibarium have yet to launch, meaning this will all come at some point in the future. Based on our Shiba Inu roadmap, they could release later in 2022.
Anticipating criticism over a partnership with a single restaurant in Naples, the Shiba project lead, Shytoshi Kusama, wrote his own blog post sharing further details. He said:
Their business model and our ethos meld perfectly and with the power of Shib, and already proven high-quality food and excellent backend practices, Welly’s is the perfect fit to scale globally. Already the team is in discussions to release multiple stores in 2022 and 2023 so that we can scale to compete with [larger] chains.
Indeed, posting in the Shiba Inu Discord, Shytoshi further added that this was not a partnership, but could instead be seen as a takeover. He also said Welly could scale and open new stores within the next two years.
Of course, we’ll need to wait to see how successful the initial flagship store is, and how its food tastes, before this can happen.