FinTech News
Chipotle Launches “Buy the Dip” Game, Adds Crypto Payments
So far, 2022 has proven to be a tumultuous year for cryptocurrencies. Not only have individual investors felt some pain as prices for numerous assets have taken some tumbles but some crypto-centric firms have even had to lay off staff or file for bankruptcy. But, despite so-called “crypto winter” in effect, one popular restaurant is taking the opporunity to further embrace cyrpto — while also poking a bit of fun at the current situation.
Today, the fast-casual Mexican grill chain Chipotle announced the launch of their “Buy the Dip” game. Named for the fact that the restaurant happens to sell dips such as queso, salsa, and guacamole for their chips, as well as the instinct among crypto investors to purchase more assets before prices rise back up, this promotion will see the company giving away more than $200,000 in free crypto (along with some coupons for heavily discounted food). This is actually the second time that Chipotle has attempted such an offer, having previously celebrated National Burrito Day with a “Burritos or Bitcoin” promo in 2021.
From now through July 31st, customers can visit ChipotleBuytheDip.xyz to try the game. Each day, users will have three tries at winning a prize. These prizes include free crypto as well as coupons for 1-cent guac or 1-cent Queso Blanco. Each day through July 30th, the company will give away $10,000 in BTC, $5,000 in ETH, $1,250 in SOL, $3,000 in AVAX, and $3,000 in DOGE. Then, on National Avocado Day (July 31st), the prizes will be increased, including the chain giving away a total of $35,000 of BTC on that day alone. In total, 500 fans will win crypto assets during the promotion, with distributions starting at $150 each.
While the “Buy the Dip” is meant to tie in with National Avocado Day, it’s also designed to raise awareness for Chipotle’s recent partnership with Flexa. As a result, customers can now use a Flexa-enabled app to pay for their purchases at Chipotle. Some of the 98 currently-supported assets include the five featured in the giveaway: Bitcoin, Ethereum, Solana, Avalanche, and Dogecoin.
In a statement regarding the crypto promotion, Chipotle’s CMO Chris Brandt remarked, “We want to build the next generation of Chipotle fandom by connecting with the Web3 community. We’re excited to bring positivity to the crypto conversation by empowering fans to ‘Buy The Dip.'”
Although Chipotle isn’t the first national brand to offer a cryptocurrency promotion or giveaway, this latest example does seem a bit different given the timing, the tie-in, and the fact that it comes on the heels of the company rolling out crypto payment integration. Of course, while $200,000 in cryptocurrency is certainly a lot, with only 500 winners, the odds of scoring are quite low. Still, with players likely having a better chance at earning discount food and, hopefully, having a bit of fun along the way, Chipotle’s “Buy the Dip” game could well be a winner.
