WhopperCoin was a loyalty program of Burger King Russia. Customers could earn WhopperCoins for each purchase they made and later exchange them for burgers or trade them with others. Unfortunately, there was no market for such a sophisticated investment tool.
As of November 2016, bitcoins are “not illegal” in Russia, according to the Federal Tax Service of Russia. However, Bitcoin market sites are blocked and a court decision stated that Bitcoin is a currency surrogate that is outlawed on the territory of Russia.
The Russian government may not be a Bitcoin fan, but Burger King Russia is definitely into crypto. In 2017, it launched its own cryptocurrency – called the “WhopperCoin.”
Whoppercoin’s value proposition: Eat US$ 26 worth of junk food and get a free Whopper
Whoppercoin was created as a loyalty program. Burger King customers could get one Whoppercoin for each ruble spent on purchases. In sum, you would need 1,700 Whoppercoins to get a free Whopper. At the time, 1 U.S. dollar was equivalent to 65 Russian rubles. Thus, you’d have to eat US$ 26 worth of junk food to get another burger.
WhopperCoin transactions were powered by Waves’ distributed ledger network, which allows users to issue and transfer custom blockchain tokens – like the WhopperCoin – and to trade them on an integrated peer-to-peer exchange.
Customers could receive WhopperCoin tokens via their digital wallet and either sell them via the exchange to other Whopper-enthusiasts or exchange them for Whoppers themselves. Or to say it with Ivan Shestov, Head of External Communications at Burger King Russia, “Now Whopper is not only a burger that people in 90 different countries love – it’s an investment tool as well.”
He goes on with his analysis, “According to the forecasts, cryptocurrencies will increase exponentially in value. Eating Whoppers now is a strategy for financial prosperity tomorrow.” – Yeah, right!
What happened to WhopperCoin?
Burger King Russia had issued a supply of 1 billion WhopperCoins and even planned to release an app for the digital tokens in both the Apple Store and Google Play. It had its own dedicated asset page, which described it as “a token for buying burgers in Russian Burger King and for the stock exchange.”
Then what happened to the WhopperCoin? We don’t really know, but pretty much nothing. Folks who wanted a Whopper – they simple went to Burger King and bought a Whopper. 2018 wasn’t the year that WhopperCoin took off, and neither was 2019. Just weeks after it was announced pretty much all talk of the cryptocurrency had disappeared – even on Reddit. The WhopperCoin website is down as well and so is the official press release from 2017.
Theoretically, WhopperCoin is still tradeable, but it’s quite dead. Since 2018, nobody is trading it anymore at all. Thus, if you want to get a Whopper in Russia, just buy it.
By the way, Burger King Corporation, the brand’s central corporate entity, did not respond to a request for comment.