Metaverse mania grips Indian QSR player Wow! Momo; will others rush in?

[Representative image]

Wow! Momo, a quick service restaurant (QSR) chain, has launched all its three brands in the metaverse, joining a long list of international and Indian companies that expect the new virtual phenomenon to be the next big thing in e-commerce.

The Tiger Global-backed firm said on October 4 Wow! Momo, Wow! China and Wow! Chicken have been launched in the 'festivemverse'  curated to celebrate all the festivals of the country round the year.

The service is available for Android users and would soon be extended to iOS users. It will allow consumers to trade on their metaverse stores and convert their non-fungible tokens (NFTs) and redeem them at Wow’s physical outlets.

The launch of the three brands on metaverse is first-of-its-kind in the Indian QSR space, the company said in a press release.

"Its imperative to stay relevant and stay up to speed today; Metaverse is an investment for the future; whilst we are launch partners for 'festivemverse' today; our aim is to grow this and at the same time also be part of all the popular metaverse platforms," CEO & Co-founder Sagar Daryani said.

Wow! Momo had in September raised Rs 125 crore at a valuation of Rs 2,125 crore.

Also read | Wow! Momo Foods raises Rs 125 crore from OAKS Asset Management

Muralikrishnan, CMO and Co-founder at Wow! Momo, added, "We have always pioneered every new initiative. To us metaverse is a step that gets us closer to the modern consumer and closer you are to the consumer the stronger is your pull."

Several global food chains are also creating experiences within the metaverse to look for new and innovative ways to connect the digital and real-world through food.

Chipotle, an American chain of Mexican cuisine, recently launched a game in which participants roll their own burritos and win currency they can spend on real-world food items.

As part of Burger King's Keep it Real promotion, diners were awarded NFTs upon scanning the QR codes of particular meal items. And, Wendy's has unveiled a fully-functional world on Meta's Horizon Worlds app, offering the option of linking activities there to real purchases.

Last year Applebee's, an American restaurant company, released the 'Metaverse Meal' NFT as a part of the restaurant's 'Metaverse Mondays' to engage with fans of the restaurant.

The metaverse refers to a shared virtual platform that people can access through different devices and move through digital environments.