These under-30s have bet big on NFTs – will it pay off?

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It all started with the desire to bring authentic Asian cuisine to the mainstream. But Forbes 2022 30 Under 30 Food and Drink Lists David Zhao and Habin Yang took it a step beyond conventional, opening 10 restaurants across the US full of robots, conveyor belts and lasers.

And despite the bear market and the lingering effects of the pandemic on the food industry, the couple managed to double revenue at their Chubby Cattle restaurants over the past two years. They raised $55 million in 2022 and now plan to open six more locations with the lofty goal of opening 50 locations by 2025. But first, they’re making an even riskier venture: NFTs.

Next week, Chubby Cattle will release its first 2,000 of 8,800 NFTs for sale. They will be offered in three tiers — ranging from $250 to $1,000 — that provide certain lifetime benefits for the holder, such as free drinks and competitive tasting menus. Zhao and Yang say they expect the NFTs, even at their below-market average price, to generate between $4 million and $5 million in revenue this year.

Is this wise at a time when NFT trading volume has plunged since its early heyday in 2022? They wouldn’t be the first members of the under-30 community to continue betting on the space. RTFKT co-founder Steven Vasilev, who was recently featured in our Forbes 2023 30 Under 30 Retail & e-commerce list, had its digital clothing and sneaker brand acquired by Nike two years ago. In April, as NFT mania peaked, RTFKT teamed up with Nike to release 20,000 digital sneakers called the Nike Dunk Genesis CRYPTOKICKS, with some special editions going for upwards of $130,000.

Ex-Coinbase product designer Jacob Horne – who was featured on Forbes 2023 30 Under 30 Art & Style list – also hard at work at Zora, which he founded in 2020 to help musicians and creatives monetize NFTs with easy-to-use building and design tools.

One sign of optimism: In January, NFT trading values ​​reached their highest level since June 2022, according to this Dapp Industry Report.

Me? I like to keep my art, and my hot pot, where I can see it.

We want to see the room..

How TikTok and Bill Nye are winning the Edutainment Wars

The bow-tie-wearing star of Bill Nye the Science Guy is still going strong. He has 9.2 million followers on TikTok, with his most popular videos lasting 13 to 90 seconds. No problem for Nye. On his Emmy Award-winning show from the 1990s, he had a rule that no segment could last more than one minute and 49 seconds. “What I used to tell people before TikTok, before the internet, was – take care of yourself the next time you’re at the dentist’s office, when you pick up that magazine or, today, pick up the phone. Notice how quickly you flip through it,” Nye says. “One minute and 49 seconds is actually pretty good.”

On our radars

• The instant ramen company Immi has raised approx 15 million dollars total in funding after its latest star-studded round led by Touch Capital and alongside Naomi Osaka, Usher, Apolo Ohno, David Grutman, Kygo’s Palm Tree Crew and Gryffin. (TechCrunch)

• With offices around the country finally back at 50% occupancy, the public, along with business owners, researchers and experts, have declared: the future is hybrid. But we wonder: how many of the early benefits offered to employees to lure them out of the living room on Wednesdays and Thursdays are sustainable? (New York Times)
• Nashville just got much less fun (and much scarier). Tennessee Gov. Bill Lee (R) signed a bill Thursday that would restrict public drag shows — the first state to pass such legislation — after a wave of criticism from conservative commentators who argue that drag-related events sexualize children, though opponents say the bill is “part of one large-scale attack on the LGBTQ+ community.” (Forbes)

Lists Lowdown

Under 30 2023 Social Impact Lists Leon Ford’s second book, “An Unspeakable Hope,” is available for pre-order this week. The Pittsburgh-based activist and author describes his experience of being shot five times by a Pittsburgh police officer during a case of mistaken identity. “My life has been shaped by my experience with police brutality, and the journey toward healing and justice has been long and difficult,” says Ford. He hopes the memoir will “spread a message of hope and resilience to others who may need it.” Ford is a co-founder of the Hear Foundation, a non-profit organization that convenes programs that address gun violence reduction, trauma and workforce development.