Remember when everyone was obsessed with Tamagotchis? We all promised they were the future of animal possession. Now they’re just sitting in a drawer, a colourful, anachronistic oddity. That's the question nagging at me as I watch the rise of "drink-to-earn" schemes like Rekt Brands' Abstract Apple sparkling water. Fad or future, we may be seeing the transformation of loyalty programs.

Crypto meets fizzy water – genius?

Let's break it down. Rekt Brands launched a sparkling water, Abstract Apple, that throws in an Abstract NFT and DRANK points with each purchase. It’s simple, really—you purchase a case of our bubbly, we hook you up with awesome digital swag. That first launch sold out in a matter of minutes, and that’s nothing short of extraordinary. So, okay, what’s all that digital swag really worth?

Each case earns you Abstract XP, 25,000 DRANK points (Rekt’s rewards points), and an Abstract NFT. The problem? It's complicated. This is not your grandmother’s grocery rewards card. To just be there, you probably already need a crypto wallet and at least a rudimentary knowledge of NFTs. Are we honestly hoping to make the average consumer—the one who really just wanted a nice cold beverage—find his or her way through this digital battlefield?

And this is where the “unexpected connection” part comes in. Think of chess. Of course, you can just fidget with the pieces and you’ll eventually get lucky and find a winning combination. Genuine chess grandmasters look many moves ahead, considering future strategy and the possible moves of their opponent. Drink-to-earn, to be more than just a fad, باید similarly ambition و بشقاب آینده. Currently, all we see is how Rekt Brands rushed to the defense without having thought it through. They never considered how to design the game to make it accessible to all.

NFTs are not inherently evil, okay?

One of the biggest hurdles drink-to-earn programs face is the widespread skepticism surrounding NFTs. However, to most outsiders, they are viewed as overhyped, overpriced JPEGs, scam ponzis. And, honestly, some of them are. The media is eager to promote the outrageous sums that NFT digital art sells for only to rapidly decline in value. This leads to the story that all NFTs are scams and garbage.

That's simply not true. An NFT, at its most basic, is a unique digital token that can denote an ownership of something. Whether it’s providing proof of authenticity or unlocking access to premium experiences, they can be leveraged across a multitude of venues and events. The Abstract NFT included with the sparkling water could, theoretically, unlock special perks, discounts, or even access to future Rekt Brands events. The potential is there.

The issue is that many companies launching NFT-related initiatives haven't figured out how to create real utility for these tokens. Others see NFTs as just a fad and a marketing move. Rather than acknowledging the real opportunity, they miss the point about how NFTs can improve customer experience. If your Abstract NFT is just a cute green square that you’re letting collect digital dust, ’nuff said. Otherwise, it’s no better than those lost Tamagotchis of yore.

Accessibility: The biggest hurdle to adoption

Let's be real. We know that the crypto world can be daunting—even for tech-savvy folks. Terms such as “gas fees,” “wallets,” and “private keys” really start to hurt your brain. If you don’t have a great understanding of all of these things, jumping straight into a drink-to-earn program is very intimidating. You might as well be learning a new language… in one day!

This is a massive psychological barrier to entry for the average consumer. So how do we make this drink-to-earn experience accessible for non-crypto natives? That’s the million-dollar question.

Golden Goose No More Rekt Brands started out by focusing on “Crypto Twitter”, a genius primary audience, but an extremely niche secondary audience. The goal, they say, is mainstream distribution. But how do you bridge that gap?

I was lucky enough to get the chance to speak with Sarah who participated in the first Abstract Apple launch. To tell you the truth, I was overwhelmed in the beginning, she confessed. The process ended up being confusing, and I found myself Googling several aspects to understand how I would go about claiming my NFT. But once I learned the ropes, it was pretty exciting. My sense is that if they took some steps to streamline that process, I think a lot more people would be engaged. That’s the point – keep it enjoyable, not exasperating.

  • Simplified Onboarding: Create a user-friendly interface that guides users through the process of setting up a wallet and claiming their rewards.
  • Educational Resources: Provide clear and concise explanations of NFTs and crypto concepts.
  • Alternative Redemption Methods: Offer options for redeeming DRANK points that don't require crypto, such as discounts on future purchases.
  • Partnerships: Collaborate with established brands that already have loyalty programs in place.

Those bonus DRANK points that we accidentally distributed? So that’s just one example of some of the dangers that could come with crypto. It’s an unfortunate but acknowledged bug that serves as a reminder of how things can go awry.

I’m not so sure that NFT-drink-to-earn is the magical customer loyalty silver bullet. Sure, it's novel and generates buzz. True loyalty is built on authentic connections to your consumers. By creating outstanding products and services, you create an engaged and passionate community.

Will this even create brand loyalty?

The long-term success of drink-to-earn will depend on brands making real-world value to their digital incentives. Yet, they have to work to make that experience accessible for all. If they succeed, then perhaps, just perhaps, we’re witnessing the future of loyalty programs. If it's just a gimmick, a way to capitalize on the NFT hype, then it's destined to become another forgotten fad, like those dusty Tamagotchis. The potential is great, but the proposal needs a reality check of epic proportions.

Ultimately, the success of drink-to-earn will depend on whether companies can create real value for their digital rewards and make the experience accessible to everyone. If they can, then maybe, just maybe, we're looking at the future of loyalty programs. But if it's just a gimmick, a way to capitalize on the NFT hype, then it's destined to become another forgotten fad, like those dusty Tamagotchis. The potential is there, but the execution needs a serious dose of reality.