The ongoing crypto price dip has caused some investors to lose their appetite, but American grill restaurant chain Chipotle has a plan on how to use crypto to promote its jalapeño-rich food.
The US fast food chain has unveiled a new interactive game called “Buy The Dip” under which players are eligible to win more than USD 200,000 worth of free crypto, as well as promo codes for USD 0.01 guacamole and Queso Blanco until the end of this month. The online game will be open between 10 am PT (5 pm UTC) and 6 pm PT every day.
The initiative demonstrates that, even during a market downturn, major companies are using their marketing budgets to compete for crypto users, who are perceived as an attractive customer segment eager to spend its money on services and entertainment.
A 2021 study by Finder.com found that younger generations dominate the ranks of crypto investors, with millennials leading the way at 44.3%, and Gen X ranked second at 28.6%, respectively.
The latest venture marks another crypto-focused initiative to be carried out by Chipotle. Under its partnership with crypto payment company Flexa, the restaurant chain currently accepts a number of cryptoassets as means of payment, including bitcoin (BTC), ethereum (ETH), and dogecoin (DOGE).
Players can compete to win amounts of each of the above-mentioned cryptos.
“Chipotle first immersed itself in the crypto space in April of 2021 when it became the first U.S. restaurant brand to launch a cryptocurrency giveaway through its “Burritos or Bitcoin” promotion, which dished out [USD] 100,000 in Bitcoin to celebrate National Burrito Day,” according to the statement.
Chris Brandt, Chief Marketing Officer at Chipotle, said that the chain aims to “build the next generation of Chipotle fandom by connecting with the Web3 community”.
The game is open only to legal US residents who are 18 years of age or older and own a Chipotle Rewards account.