A new DAO aimed at purchasing fast-food restaurants called Fries DAO has raised more than $5.4 million to achieve the goal.
<h2><strong> Fries DAO Raises $5.4 Million
</strong></h2>
Fries DAO has raised more than $5.4 million over the week ending on February 20 and has given out FRIES tokens to those who participated. The tokens don't grant any ownership of the restaurants or give holders any share of profits but will be used to vote on proposals with regards to how they operate.

https://twitter.com/friesdao/status/1495455077703770114

&nbsp;

Starting this week, token holders can stake their FRIES to receive KCHUP tokens, which can then be used to purchase NFTs that include utility perks like free burgers.

https://twitter.com/friesdao/status/1497342685992075268

The DAO plans to 'negotiate with franchise owners and brands to buy well-known fast food stores using the Fries DAO community treasury.' For this, the DAO is planning to buy at least one fast-food restaurant in the first year. If this doesn't happen, the funds raised will be returned to the community without any expenses.
<h2><strong>Fries DAO Could Buy a Subway Branch</strong></h2>
According to the community’s Discord server, the first restaurant the DAO has planned on acquiring is a branch of Subway and has even asked token holders to review the financial details ahead of a potential vote on the purchase.

https://twitter.com/friesdao/status/1497220001421574148

The former president of Domino’s Pizza, Kory Spiroff, is an advisor to the project. The community also includes several people with experience in the fast-food industry.

Fries DAO Has Raised $5.4M to Buy Fast Food Restaurants

A new DAO aimed at purchasing fast-food restaurants called Fries DAO has raised more than $5.4 million to achieve the goal.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Fries DAO Has Raised $5.4M to Buy Fast Food Restaurants

Top Picks