Blackbird
A Web3 platform reshaping restaurant loyalty and payments with blockchain
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About Blackbird
Blackbird is a Web3 loyalty and payment platform built specifically for restaurants. Its core business is a blockchain-based CRM system that lets restaurants issue tokenized loyalty points and accept payments through the Blackbird app, while diners use the app to manage memberships, check $FLY balances, and pay bills seamlessly.
Its core value proposition is disintermediation: by moving restaurant payments and loyalty onto its own Layer 3 network (Flynet, built on Base), it bypasses traditional credit card processors and third-party delivery platforms. This gives restaurants a fixed 2% transaction fee (vs. 3.75%+ for cards), returns 1.5% of revenue back to restaurants for customer acquisition, and restores data ownership to both restaurants and diners. Instead of conventional points-for-purchase loyalty, Blackbird Club emphasizes experiential recognition—rewarding regulars with exclusive events, hidden menu items, and cultural belonging rather than pure spending.
The market pain points it addresses: restaurants lose 3-5% of revenue to third-party intermediaries, have no direct customer relationship (data is controlled by platforms), and face razor-thin margins (average profit down from 20% to 4%). Blackbird solves this by creating a direct restaurant-diner connection on-chain, enabling low-cost payments, shared data, and cross-restaurant loyalty programs.
Regarding the past six months (March 12, 2026 – September 12, 2026): no reliable public information was found in the provided sources. However, within the last two years, notable challenges include regulatory uncertainty, market volatility, and concerns that token price speculation could undermine the project's core value. There is also ongoing debate about whether blockchain is truly necessary infrastructure for restaurant loyalty systems.
Blackbird, a Web3 loyalty and payments company, completed a $50 million Series B round led by Spark Capital, with participation from Coinbase, a16z crypto, and others, bringing total funding to $85 million, signaling strong capital market recognition.
The company launched Blackbird Pay, a payment platform that deeply integrates payments with loyalty programs, enabling on-chain transactions and unified points, offering restaurants and customers a more efficient interaction model.
Blackbird is committed to reshaping the dining loyalty market through blockchain, leveraging a decentralized network to reduce transaction costs and give users control over their data, driving the industry's shift from traditional points to experiential loyalty.
Key progress in the past six months (Mar–Sep 2026):
Raised $50M in May 2026 to expand its blockchain-based loyalty and payment platform, targeting independent restaurants with lower fees (2% vs industry 3-4%) via Blackbird Pay on Base.
Partnered with MetaMask Card in March 2026, enabling 5x FLY rewards at participating restaurants, plus metal-card perks like 7x rewards and priority reservations.
Launched Blackbird Pay (July 2026) on Base using USDC, reducing payment costs and allowing FLY to pay bills with 10x reward multipliers.
Official future focus: scale both restaurant supply and diner demand through cluster-based city rollouts (NYC, SF, Charleston live), deepen POS integrations, and position Blackbird as a consumer account layer for dining — while hiding blockchain complexity behind everyday rewards.
Ben Leventhal (Founder & CEO): Co-founded Eater (2005, sold to Vox Media) and Resy (2013, acquired by American Express in 2019). Previously served as Resy's CEO and later GM/Vice President at Amex. Founded Blackbird in 2022.
Phil Toronto (Co-founder): No reliable public details on his role or past experience found.