PANews reported on April 8 that according to Fortune magazine, the encrypted catering application Blackbird Labs completed a $50 million Series B financing, led by Spark Capital, with participation from Coinbase, a16z crypto, Union Square Ventures and Amex Ventures. The financing is used for company equity and token warrants, which are allocations of unreleased cryptocurrencies. Founder Ben Leventhal said he raised the money in the fourth quarter of 2024, and he declined to disclose the implied valuation of the round. Since 2022, Blackbird Labs has raised $85 million.

According to reports, Blackbird is a restaurant loyalty and payment application. Every time a user visits a restaurant registered on the app, they will receive rewards in the form of an internal cryptocurrency FLY. Users can use this cryptocurrency to pay for meals anywhere in the Blackbird network, which covers more than 600 restaurants in New York City, San Francisco, and Charleston, South Carolina. Blackbird Labs released its own blockchain in February, which is built on Coinbase's Base and is called Flynet.