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Wednesday, September 28, 2022

Chipotle Buying The Dip With Their New $200k Giveaway of Crypto.

The restaurant chain will distribute Bitcoin, Ether, Solana, Avalanche, and Dogecoin through its online game.

Chipotle, a chain of fast-casual restaurants based in the United States, has launched an online game that allows players to win well over $200,000 worth of cryptocurrency.

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Chipotle announced Monday that through July 31, customers might use their rewards accounts to play the “Buy The Dip” and “Eat the Dip” games. With the help of the game, the corporation will award $45,000 in Bitcoins (BTC), $10,000 in Ethereum (ETH), $13,750 in Sola (SOL), $14,250 in AVAX, plus $14,250 in Dogecoin (DOGE).

By engaging with the Web3 community, the restaurant’s Chief Marketing Executive Chris Brandt remarked that they want to create the next generation of Chipotle fandom.

Chipotle Taking Buying The Dip Too Literally: 

As part of a campaign for National Burrito Day in April 2021, the restaurant company, gave out $100,000 in Bitcoin. Chipotle said in June that 98 cryptocurrencies would be accepted as payment at its roughly 3,000 US locations through digital payment service provider Flexa.

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Similar crypto giveaways were staged by other significant fast food businesses in the U.S., Burger King, as the space evolved. Robinhood teamed together in November 2021 to offer free BTC, ETH, and DOGE consumer purchases. In honor of its 31st anniversary, McDonald’s China branch launched a promotion in which guests could win 188 nonfungible tokens, and its U.S. operations subsequently submitted numerous trademark applications indicating a foray into the metaverse.

As a result of the overall cryptocurrency market experiencing tremendous volatility, many consumers have started buying Bitcoin when its price declines. Chipotle said that rather than after the campaign, it would distribute rewards based on the currency rate on the day before the award. However, ProShares intervened amid several reports that a crypto winter had arrived by providing investment vehicles with access to short-selling BTC.

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