The restaurant is named after the year in which the Society for the Good and Charitable (GGG) was formed, on 30 March 1777. The GGG runs the town library, located in the same place, and is the owner of the Schmiedenhof, where 1777 is located. The area is named after the guild of smiths, who in 1887 had to sell the building together with the square to the GGG. Prior to that time, the square had been used for guild purposes for 400 years. Information on the history of the smithing guild can be found here.
The Basel GGG is an association founded in 1777 by the Basel town secretary, Isaak Iselin. Since its inception, its purpose has been to promote public welfare, particularly in the areas of education, social affairs and culture. Today around 2,000 employees and over 1,000 unpaid volunteers undertake work for around 90 different GGG organisations. You can find more information about this fantastic association here.