Home » No Joke: Chipotle to Give Away $200K in Free Burritos and Bitcoin on April 1
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No Joke: Chipotle to Give Away $200K in Free Burritos and Bitcoin on April 1

Chipotle to Give Away $200K in Free Burritos and Bitcoin on April 1

by Ravi Sharma

In honor of National Burrito Day on April 1,

The fast-casual eatery Chipotle Mexican Grill (NYSE: CMG) announced that it will give away $100,000 in complimentary burritos and $100,000 in bitcoin.

The restaurant announced that it has partnered with Stefan Thomas, a former CTO of Ripple Labs, to introduce the interactive game “Burritos or Bitcoin.

Thomas, who notoriously forgot the password to his hard drive and had $387 million worth of bitcoin stashed on it, served as the inspiration for the game.Players will decipher the coding of a virtual wallet and complete a mock “chiptocurrency” rescue mission.

On this website, burritosorbitcoin.com, participants can enter to win a free burrito or bitcoin by correctly guessing a six-digit code ten times.10,000 gamers will receive a free burrito, 50 will receive $500 in bitcoin, and three will receive $25,000 in bitcoin, according to Chipotle.According to Chris Brandt, chief marketing officer of Chipotle, “National Burrito Day is a major event for Chipotle as our customers traditionally throng to our restaurants and internet platforms to order their favorites.”

Chipotle is hardly the only Tex-Mex restaurant brand to make fun of the current cryptocurrency bull run.

Earlier this month, Taco Bell offered a selection of non-fungible tokens (NFTs) with a taco motif.Yesterday, the news was first teased on Twitter, leading some uninformed observers to believe it was all a scam.Players will decipher the coding of a virtual wallet and complete a mock “chiptocurrency” rescue mission.

On April 1, also known as National Burrito Day, Chipotle fans will have the chance to try their luck and win either a free burrito or free bitcoin.(And, hopefully, it’s not an April Fool’s joke.)

sed restaurant chain and the CEO of Coil.

Players will have 10 chances to try to decipher the digital wallet’s code in Chipotle’s game as part of a “chiptocurrency rescue mission.”Even then, the company’s press release states that even unsuccessful gamers “may be surprised and pleased with a special bonus from Chipotle.”

Chipotle has a history of utilizing popular culture to motivate its marketing initiatives and grow the number of members in its loyalty programme, from secret phrases in its television advertisements to burrito-rolling Roblox activations.

By developing a web-based simulator, the restaurant is also interacting with the gaming community while capitalizing on the frenzy surrounding digital money.

As part of a collaboration with bitcoin payment provider Flexa, the endeavor also promotes customers’ ability to purchase with cryptocurrencies at Chipotle.

The objective of the game is for participants to follow a fictitious cryptocurrency tracker as it experiences highs and lows in order to “buy the dip,” or invest when the asset price declines in the hope that it will eventually rise again.

The volatile cryptocurrency market, which has bottomed out and lost $2 trillion in value since a rise last year, appears to be referred to in the game.

Nevertheless, with a market worth of $1.01 trillion as of the time of publication, marketing in the crypto space offers a means of connecting with the brand’s essential digital-first customers.

Chipotle will distribute $10,000 in Bitcoin, $5,000 in Ethereum, $1,250 in Solana, and $3,000 in Avalanche and Dogecoin every day from July 25 until July 30.

On July 31, awards will rise for a number of the currencies; the total reward for Bitcoin will grow to $35,000 and be distribute among six players.

Winners have 15 seconds to pick up their gift or try again for another chance to win.Chipotle has already used cryptocurrency as a marketing strategy.

Customers were challenged to guess a six-digit passcode to open the chain’s “Burritos or Bitcoin” microsite in order to win $100,000 in free burritos and $100,000 in bitcoin.Others have adopted the idea as well. Burger King teamed up with Robinhood to distribute Bitcoin, Ethereum, and Dogecoin.

Shake Shack stated in March 2022 that customers who use Cash App to pay for their orders will receive bitcoin prizes.Due to the impending demise of third-party cookies, Chipotle Rewards, which has 28 million U.S. subscribers since its launch in 2019, is using cryptocurrency to entice customers to sign up for the loyalty programme.As more people look at the potential of cryptocurrencies as a primary payment option in the face of a shifting economy toward a digital-first model, Chipotle locations now accept cryptocurrency as payment.

 

Brief Dive:
  • According to a press release, Chipotle Mexican Grill is commemorating National Avocado Day (July 31) by releasing the limited-time stock market simulation game “Buy the Dip,” which will award players with $200,000 in various cryptocurrencies.
  • Using their Chipotle Rewards account, burritos players can access the game online every day from 10 a.m. to 6 p.m. PT starting today (July 25) and continuing through July 31.Users must “purchase the dip” in order to play and have a chance to win cryptocurrency or a 1-cent serving of guacamole or queso.
  • More than 500 players will win cryptocurrency while the game is live, and participants are allow three plays per day.Following the growth of Web3 and digital currencies, the promotion indicates a rising push by brands to market to consumers in new ways.

 

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