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NFTs

March 10, 2022

Emily Elyse Miller Wants to Reinvent Breakfast Cereal. That Means Vegan Ingredients, Edgy Mascots, and (Of Course) NFTs

Emily Elyse Miller knows a thing or two about breakfast.

Not only has the one-time journalist and fashion trends forecaster written a book on the topic (complete with 380 recipes from 80 countries), but she’d also run a consulting company that helped world-renowned chefs like Enrique Olvera develop breakfast events.

But after years of writing and teaching about first-meal, Miller realized that cereal, the centerpiece of the American breakfast for generations of kids and adults, had gone stale. So she decided to start a cereal company of her own to reinvent the category.

Called OffLimits, Miller’s company created a line of irreverent brands like Dash and Zombie, each with its own ‘moody mascot’ and a clean ingredient list.

The funky mascots were important for Miller, because while she loved the rainbow-colored pop culture she grew up with in the cereal aisle, she felt it was time for something new.

“Tony the Tiger is not cool,” said Miller. “Cereal is one of the only products that carry culture in this unique way, and that culture has not been updated in decades.”

Emily Elyse Miller

Miller worked with artists to design the cereal brands’ characters and boxes. Now, she sees NFTs as a natural evolution to bring the creations to life and connect directly with the OffLimits’ community.

“The mascots have moody personalities, and there are highs and lows to those personalities too,” said Miller. “They have mental health issues as much as they have kind of successes and wins, and I think that’s what makes the brand so right for building out in the Web3 space.”

New to Web3, Miller initially started small by giving away NFTs during a pop-up at the Art Basel art fair last December in Miami Beach. Attendees of the pop-up scanned a QR code to claim an NFT for what Miller describes as the first-ever “NFT cereal toy.” The giveaway was gamified, so some who scanned got an “exploding cereal” NFT and given an OffLimits cereal variety pack.

The Art Basel NFT giveaway gave Miller confidence to go bigger. “My first NFT protect was just so I could understand who would claim it and if people would care at all,” said Miller. “People very much cared, so that helped just like solidify that I get to pay a lot more attention to this.”

That extra attention resulted in a new NFT project announced this week called “Best Cereal in the Metaverse.” The project will feature a collection of 2,500 NFTs (.111 Etherium (~$290)), each with its own unique artist-created spin on an OffLimits’ mascot. In addition to unique artwork, NFT owners gain access to the private discord and can participate in the custom cereal box design process by submitting an NFT they own to be featured on a custom-designed cereal box. Each NFT holder will also get four of the custom-designed boxes of cereal shipped to their home.

OffLimits is part of a bigger trend of upstart food brands pushing into NFTs. Startups like Bored Breakfast Club, Liquid Death, and Yerb have all launched NFT projects over the past few months as a way to directly connect with their customers and create a new commerce model. For Miller, while all of this is exciting and represents opportunity, there’s still lots of work to do.

“While people were excited to learn about an NFT (with the first project) and potentially claim it, the amount of questions that we got and education that we have to do for our community who are not crypto native is a lot,” said Miller. “So brands need to take their responsibility.”

That responsibility also means talking to other brands curious about the Web3 space and conveying what she’s learned.

“I’ve been talking to so many brands about how they can be more involved in the space,” said Miller. “For me, everything’s about functionality, which is why I wanted this project to have a lot of layers. I wanted to involve our existing community to help grow a larger community of artists and just keep a circle of engagement going. That’s why I feel like there needs to be a physical product for something digital, trying to keep a good balance.”

If you want to sign up for the OffLimits NFT, you can do so here.

November 1, 2021

Restaurants, Welcome to the Metaverse

Restaurants, welcome to the metaverse.

It’s not just a vision that’s 5 or 10 years away. It’s here now. 

For Halloween, Chipotle created a virtual restaurant inside the online game platform Roblox to give away $1 million in free burritos. Fans and gamers could enter the restaurant, experience a Halloween-themed Chipotle, and get a promo code for a free burrito in the real world.

This is a preview of what we can expect to see in the years to come. The next generation of diners will order their food and discover where they are going for their next night out from inside augmented and virtual worlds created by the likes of Epic, Roblox, and Facebook. And the best hospitality companies (and hospitality tech companies) will not wait too long to adapt.

Here are seven ways that restaurants will change in the metaverse:

  1. Marketplaces – apps won’t be the primary ordering channel anymore once more people begin to participate in the metaverse. Companies like Doordash, UberEats and GrubHub will need to rethink their strategy as ordering and discovery will be embedded in more interoperable experiences. Doordash moving to become a pure logistics API is smart because they will be protected if they lose the ordering portal in the metaverse — someone still has to deliver the food after all.
  2. Marketing – brands will start integrating food into virtual experiences. Instead of traditional email marketing, restaurants will be able to recreate their physical space in the metaverse and invite guests from around the world. The metaverse will create new opportunities to test promotions and loyalty programs, just like Chipotle showed by launching their Boorito promo as digital-only this year.
  3. Reservations – the interface for booking a table will completely change. Diners will do a quick virtual tour before booking the specific table they want. Pricing will be dynamic for the very best tables.
  4. Delivery – ghost kitchens will be the building blocks of group ordering in the metaverse. You’ll be able to share a meal with your friends delivered to you at the same time even if you are halfway across the globe.
  5. QR codes – QR codes will be more than just menus. They will be the access point for augmented reality. Friends from the metaverse who can’t make the night out will be able to join in on the fun and send your party a bottle of champagne to celebrate.
  6. Payments – while we expect restaurants to always take dollars, we think the metaverse will have a few different major cryptocurrencies that rise to the top over the next 5 years. The currency that a restaurant accepts will be part of its identity and marketing efforts.
  7. Membership – members-only hospitality experiences like SOHO house will extend their house into the digital realm. Members will have access to exclusive digital worlds if they own the right (non-fungible token) NFT to get in the front door. These NFTs will be traded on open marketplaces as keys to different clubs.

Most of us love sitting down with friends at a restaurant with a chill vibe and having a great conversation in the real world. The metaverse will not change that. Restaurants will continue to provide those unique experiences. But within the metaverse, restaurants will be able to reach more guests that might not always be able to show up in person.

Steve Simoni is CEO of BBot, a maker of smart ordering technology for restaurants and the hospitality industry.

October 21, 2021

Yes, Crockpot Has an NFT Too

Remember when your mom started using Facebook, TikTok or some other technology-related thing, and you thought, ‘ok, now everyone’s doing it?’ I just had that moment with NFTs. Only instead of my mom, it’s her slow cooker that’s jumping on the technology bandwagon.

That’s because Crockpot, the genericized brand of slow cooker from Newell, has released an NFT to celebrate its 50th anniversary. The NFT, which you can bid on until midnight tonight on Opensea, is basically an animated GIF that shows a bunch of different cartoon renderings of the Crockpot from its origin in 1971 up to today.

Watch for yourself:

Listen, I get it, brands that want to tap into the pop culture zeitgeist will often jump on the latest trend, and the effort by Crockpot is part of a push by the brand at what it is calling “newness.”

“We wanted to celebrate our history without getting too nostalgic,” said Christine Robins, CEO of Home Appliances at Newell Brands, via a press release. “Minting an NFT might seem like an unexpected move from the Crockpot team, but expect to see more newness from our brand as we embark on the next 50 years.” 

But unfortunately for Crockpot, NFTs are tricky. Unlike ostensibly owning something like the first tweet ever, an NFT like Crockpot’s doesn’t have a history behind it that adds to the perceived value. For most, it just appears like another animated GIF.

As I’ve written before, NFTs will find the most success in the food market if they act as a golden ticket to some unique real-world experience. So if Crockpot had created, say, a one-off unique 50th-anniversary collective Crockpot that came with the NFT, I think they may have had something.

But maybe I’m wrong, and there’s someone who wants a Crockpot’s NFT. So if that person is you, hurry up and head on over to place your bid before time expires.

September 28, 2021

The Culinary NFT Trend Is Just Beginning

If you thought the romance between the culinary world and NFTs was a quick spring fling, I have some news for you: This relationship looks set for the long haul.

The latest evidence of an embrace of non-fungible tokens by restaurants comes in the form of new promotion launches over the past few weeks by both Burger King and Dave & Buster’s.

The Burger King NFT promotion is part of an effort to raise awareness around the company’s Keep It Real campaign, a marketing initiative in which it is eliminating 120 artificial ingredients from its menu. Here’s how the program, which is powered by the Sweet NFT platform, is described in Restaurant Dive:

“Guests can scan a QR code on each Keep It Real Meal box to receive one of three collective NFT game pieces, according to details shared with Marketing Dive. When the full set is collected, guests are programmatically provided a fourth NFT, a reward that could be a 3D digital collectible, free Whopper sandwiches for a year, autographed merchandise or a call with one of the campaign’s celebrity ambassadors.

In short, the burger chain is creating a loyalty program that entices consumers with real-world rewards like burgers. In other words, a modern equivalent of the old McDonald’s Monopoly game, only built on the blockchain.

Much like Burger King’s effort, Dave & Buster’s is an NFT powered loyalty program that promises prizes, even if the odds are longer and prizes are essentially just more game tokens. The program, which also uses Sweet’s NFT platform, offers digital cards and tokens in exchange for tickets won by customers playing games in the restaurant. According to the announcement, each location will offer a unique game card and coin, and the first customer to collect all the locations will win a “1 of 1 Super Master NFT and a $10,000 Dave & Buster’s Power Card.”

Beyond these efforts by the big chains, NFTs are also making their way into higher-end cuisine. In July, chef Marcus Samuelsson turned his chicken recipe into an NFT and threw in the opportunity to eat at the chef’s restaurant. In August, food critic Agnes Chee Yan-Wei announced she’s collaborating with NOIZchain.com to create an NFT marketplace for chefs. And then there’s Gary Vaynerchuk’s NFT restaurant, where he plans to offer exclusive membership dining privileges for owners of one of the restaurant’s NFTs.

While much of the early forays into the NFT trend seemed a bit forced, the latest efforts are encouraging for a few reasons:

These NFTs offer real-world rewards, not just digital art. Digital art isn’t a bad thing, but the reality is if NFTs are ever to become mainstream, they need to translate to tangible rewards. Burger King is offering free food, while Buster & Dave’s offers the promise of free gameplay.

The rewards are available to everyone. Sweet, whose NFT platform underlies both Burger King and Dave & Buster’s offerings, call their approach “broad-scale”. What this means is there’s more than just one single copy of a digital asset everyone bids up to the stratosphere, and instead the programs offer rewards that are seemingly within reach and have similar odds to other more traditional game contests.

For those that want it: exclusive real-world experiences. For those who want to pay the price for membership, NFTs can also be a blockchain-powered ticket to exclusive real-world experiences. Vaynerchuk’s NFT restaurant and Chef Samuelsson’s NFT offer tangible but exclusive things high-end foodies would be excited about, like actual food.

So while early efforts to capitalize on NFTs may have been slightly cringe-inducing, the world of food is beginning to fine-tune their crypto offerings into something that real-world consumers might actually want.

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