Flyfish Club: Embracing Cash Memberships

Published at: April 23, 2024

New York's Flyfish Club Now Accepts Cash for Memberships


The Flyfish Club, once dubbed the world's first NFT restaurant, is changing its tune by allowing membership purchases with traditional U.S. dollars.

Set to open its doors in New York this summer, the private members club is shifting gears by offering memberships priced at $3,500 a year for individuals and $4,000 a year for couples, both with a $1,500 initiation fee.

The club's website states, "We believe our approach, blending technology with tradition, is truly unique. We offer the best of both worlds, providing a new dimension to the club industry while maintaining the successful framework of traditional private clubs."

Behind the concept are the minds of VCR Group, which includes Resy co-founder Gary Vaynerchuk, and chefs Josh Capon and Conor Hanlon. The venue will feature a lounge, a private dining room, and an omakase counter exclusively for select members. Designed by architects Roger Ferris and Garrett Singer Design, the 11,000-square-foot space is located in downtown Manhattan.

Inside Flyfish Club's Membership Evolution and Market Landscape


Even before its physical opening, the Flyfish Club had already secured $14 million in memberships. These blockchain-based memberships initially offered additional perks like a private dining credit and exclusive event access, priced between $8,000 to $14,000. However, blockchain memberships are now only available through secondary markets.

With the decline of cryptocurrency since its peak, the move to accept cash for memberships may not come as a surprise. Other ventures with NFT-based membership structures have faltered, with a San Francisco restaurant calling it quits before even opening its doors last September.

For those eyeing standard memberships, an application process akin to exclusive clubs like Soho House or Zero Bond is required. However, with the saturated market of exclusive spaces in New York City, the Flyfish Club's success remains to be seen, especially if it attracts a crowd of cryptocurrency enthusiasts incessantly promoting digital currency.

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Shubham Sahu
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