McDonald’s offers digital token ‘Big Mac Cube’ in Shanghai as fast-food chain ramps up China expansion
- A limited number of the digital tokens will be given to some company employees and customers as a gift amid opening of new Shanghai HQ
- McDonald’s also plans to ramp up new restaurant openings across the mainland from about 250 new outlets per year in 2017 to 500 per year by 2022
McDonald’s China has become the first mainland-based restaurant chain to launch non-fungible tokens (NFT) amid a surge of interest from young consumers in digital retail trends.
A limited number of the digital tokens will be given to some company employees and customers as a gift after the fast-food giant opened its largest store in Shanghai over the weekend, the mainland’s commercial and financial capital.
The fast-food chain also put a new office tower in the city, where its China headquarters and flagship outlet are located, into operation.
“McDonald’s is a young and trendy brand that has always paid attention to fashion trends and cutting-edge technology,” said McDonald’s China chief executive Zhang Jiaying in a statement.
NFTs are unique and non-interchangeable units of data stored on a digital ledger, such as a blockchain. The digital assets link ownership to easily-reproducible physical or digital items, such as works of art, real estate, music or videos.
McDonald’s China plans to distribute only 188 NFTs at its newly opened Shanghai restaurant. The token, called a “Big Mac Cube,” is based on the shape of the new headquarters building – an eight-floor tower in Shanghai’s emerging central business district, West Bund in southwest Xuhui district.