A newsletter on upcoming food and beverage trends that offers a curation of brands and aesthetics written by Andrea Hernández.
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Neopets Crawled, So NFTs Can Thrive
As a 90s kid myself, I’ve been seeing web3 commentary that is inherently just recycled web1, buying internet assets or being part of digital communities isn’t novel for a generation who had webrings and Neopets. The same reason why I think “drop culture” is so predominant in genZ is for lack of web1 friction that millennials grew up with, remember buffering? And wanting to create that friction growing up with instant gratification as default, more on this on another day, I promise.
Back to Neopets comparison, these collection drops are so reminiscent of omelettes you could obtain for free in Tyrannia, they even had “rarity” like when you received a dinosaur egg omelette. Of course there are major differences and the fact that we are fully grown adults now, though 12 year olds are trading NFTs alike, web3 is shaping up to be what web1 always intended for at the dawn of the internet, collective wealth , connectivity and community.
This isn’t the first time we mention NFTs at Snaxshot, and it won’t be the last, it’s essential to our predictions of Food in 2025. For those just joining us and wondering WHAT THE FUCK IS SHE TALKING ABOUT?! Let’s catch you up:
NFT—non fungible token, a unique, non interchangeable data point, stored on a blockchain. They represent “certificate of ownership” and can take many forms.
Blockchain—a ledger, blocks linked together using cryptography. This is also why it’s called “crypto.” Know that there are different “chains” like Bitcoin, Ethereum, Solana, etc
DAO —Decentralized Autonomous Organization
web3 —a very broad term but it’s commonly used to reference a more “decentralized” internet
As we are talking about a major shift happening, the coming of web3 is already being heralded and even welcomed in the food space. NFTs becoming building blocks that offer an array of endless possibilities, and since we last wrote about them, some interesting concepts have emerged. Care to explore them with me? Buckle up, fuck the metaverse, Zuckerberg already owns the IP to that, around here we call it snaxverse, hop on your favorite chain and let’s get moving.
—Food & beverages ecommerce is expected to grew from $25 billion in 2020 to $31 billion in 2021!
—NFT sales volume surged to $10.7 billion in Q3 2021, up more than 8x from the previous quarter
—On the biggest NFT marketplace, OpenSea, sales volumes hit $3.4 billion in August.
—In the second quarter of 2021, gaming company Roblox Corporation generated total revenues of over $454 million.
DAO Supper Club
After spending 1.5 years indoors, the world saw the resurgence of the supper/dinner club, Bettina Makalintal from Bon Appetit wrote about this recently, we all want to dine out and dine together. The Economist beautifully broke down where this craving of a dining experience comes from, hint: it’s inherent human nature as much as animals feed together at watering holes. This is tale as old as time meets a new kind of mechanism, enter Dinner Dao, breaking bread with internet friends, artist Austin Robey conceived the idea in New York, following similar DAO guidelines, this is how DD works:
Members join a chapter by purchasing a season pass NFT.
Funds are pooled in a shared treasury (dinnerdao.eth)
Unlock NFT allows for gated access to the Dinner DAO’s private Discord channels
Members vote on dinner proposals via snapshot
For the meal itself, and almost ironically, a member pays via a card (fiat) and is reimbursed through DAO treasury (though this might evolve as more restaurant get into accepting crypto)
For context, this checks the boxes of why one would want to start a DAO in the first place:
Ease of capital formation
The NYC chapter was the first iteration, they all had dinner at Shoo Shoo Nolita. Portland is the next chapter and is already a sold out experience. Dinner Dao wants to expand to cities around the world, and to be fair their inherent utility at the moment is making large group payments easier than splitting the bill, for real though, why hasn’t anyone come up with this mechanism a la Uber?! In all seriousness, what differentiates this from any web2 version of it out there, is the ability to give stake and equity to your community, participation is the new signaling.
Where does this go from here? Dinner Dao is a very simple example of what can be done using a decentralized mechanism, here are some communities I believe are primed to go web3:
Alimentari Flaneur —which is basically transporting you to a European dinner at every one of their events, and imagine them self funding these not through “catered affairs” but community support, can imagine them leveraging their NYC fandom to bring AF aesthetics and delectables across boroughs.
Her Name is Nala —also based in NYC, a supper club that curates community, aesthetics and cuisine to create delightful dining experiences, this mechanism could allow them to expand this concept further.
Minimun Wines —Based in Australia, a vineyard that has built a community that involves poetry submissions and monthly zines, as well as wine subscriptions, it would be wonderful to see them use web3 to open up their community (ethical vineyards) and invite folks from all around the world.
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NFTs to Eateries
Another concept that has emerged out of web3 dynamics is NFT to eatery, take for example, Breakfast World, which has started as a collection of 6969 breakfast sandwich NFTs and has highlighted on their roadmap they aim to open physical locations, though in all honesty it’s something that can be easily spun up as a popup instead. Will the next Waffle House or IHOP come out of similar projects? Only time will tell, in the meantime this is a good way to crowdsource IMO, food concepts that are supported via community.
Earlier this year Pizza Dao sold thousands of pizza NFTs from over 300 artists and netted roughly $1.5 million in the span of two months! The plan was to give 1 million slices in honor of Bitcoin Pizza day, in the US they partnered with SLICE to deliver 2,500 pizzas across the nation. Can someone confirm if this has been essentially the largest pizza party ever hosted?!
Communities like Fast Food Punks whose NFTs that are a mesh between Cryptopunks and fast food chains have sold for thousands of dollars, could also easily partner with the chains they are spinning up their NFTs around, imagine that holding FFP gave you access to a secret menu at any IRL Burger King, Wendy’s or McDonald’s these behemoth chains could benefit from the creativity and community sentiment form around this NFTs that could transcend into their eateries.
Ordering On Chain
What does ordering food look like in a virtual world? From virtual food trucks that actually order delivery for you to opening your own restaurant inside the snaxverse, here are some present examples of what this looks like.
ComplexLand Food Trucks
Last year we got a preview of what food ordering inside the snaxverse would look like, thanks to Complex, they hosted the now prophetic Complexland, pioneering how fashion, art, music, shopping and eating can look like virtually, emulating IRL scenarios.
Once inside ComplexLand, there were food trucks from spots like Uncle Paulie’s Deli, Artichoke Pizza, Teranga, and Sweet Chick parked throughout the different neighborhoods. You could open a delivery menu at each truck and check out which IRL cities they were serving, and, if you found something in your area, you could literally order a meal, straight from your avatar to your door.
Chipotle x Roblox
Ordering inside the snaxverse is becoming mainstream through partnerships like Chipotle and Roblox, the campaign was such a hit, it literally broke Roblox for 3 days straight (though they deny it had anything to do with it) —hello, offering $1 million in free burritos is going to spike traffic regardless of what “verse” you’re in. The Chipotle in Roblox was similar to it’s IRL countertpart, they even adopted their employee to fit Roblox aesthetics, it also involved completing a maze to be able to redeem the free #boorito.
Chipotle just paved the way for more mainstream food chains to go on chain (lol, someone please take my computer away from me) by serving as example of meeting folks in their medium natively, in a way that works so well, you too may break the snaxverse. This also presents a new dimension for URL to IRL promotions, that feel less extractive like an Instagram ad, and more natively and rewarding consumers for a behavior they actually enjoy, ie gaming.
Members Only Meals
Gary Vee is launching the first NFT restaurant, even though a lot of people felt it was “cringe” the concept isn’t novel, member only restaurants exist, this concept just switches up membership via an NFT. The NFT represents ownership of membership, it will provide access to the restaurant throughout the month, in addition to unlimited enjoyment of the cocktail lounge and access to private culinary experiences. There will be 3 different NFT Tokens representing a multitude of experiences in the restaurant. Each NFT is an asset and can be sold or transferred in the secondary market, something that currently doesn’t exist and isn’t allowed in web2 dynamics.
Where does this go from here? Here are some examples of concepts that would do well in this dynamic:
Planque: A wine clubhouse based in the UK, it’s a beautiful space and access to it requires a membership. It’s become a trendy hotspot, imagine being able to sell your membership at a place that’s become increasingly valuable? Talk about ROI, and I can even imagine being an OG member coming along with added perks (making it more rare and encouraging the initial investment)
Poolsuite: They are soon introducing their vision of web3, but no one seems more primed to becoming a desirable members only lounge than this community. Can imagine cabana access, unlimited tiki cocktails not just through their own iterations, but imagine having Poolsuite lounges at the airport?!
It’s 2021 and Burger King has recently partnered with Robinhood to give out crypto to customers, yes you read this right. Regardless of what you may think of this, the idea of getting crypto into the hands of mainstream folk is amazing as it removes friction of obtaining it in the first place, and this comes in handy when you’re trying to “crypto pill” folks in the first place.
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This also represents a future where “crypto” becomes norm, considering entire countries are adapting it and actually encouraging its use, think El Salvador, where even the street vendors are using Bitcoin in a region where so many folks are unbanked because of the exhaustive and bureaucratic process that entails, hence the rise of fintech. Crypto even fixes the friction some fintech apps come along with, example Stripe, Square, Venmo and CashApp not being available in majority of places outside of UK/US. This is also a way for their NFT marketing initiatives to take off more mainstream, making it easier for folks to be able to “ape” into them because they’ve got some ETH to spend, and who knows, could be good for the floor prices of these fast food collections overall.
Rarities, Reservations and Recipes
This week, American celebrity chef, Rocco Dispirito is launching a recipe NFT, as a way to commemorate an NFT festival taking place in New York this week. What is it specifically? The NFT will be unveiled during NFT.NYC, along with the company Metaversal, this recipe will be paired with “The Fractals of Taste” by Dustin Chan, a loopable 5-min video that complements the flavors and reflects colors referenced in DiSpirito’s first cookbook.
Not just for celebrity chefs, and as previously mentioned in Food in 2025, web3 allows for a different way of publishing, not just recipes, but cookbooks, that empower their creators in ways that could not be done before, consider that you still earn % of sale in perpetuity, regardless of how many times an NFT is sold. A great platform that serves as an example of this is Mirror, where not only can one think of crowdsourcing their new book, but consider that even now media companies are being born through it.
IMO, legacy restaurants should also leverage this, imagine if you could be owner of the OG sazerac recipe from The Roosevelt Hotel in New Orleans, that not only is a signaler but also something that could accrue value, or the seasoning recipe that makes Popeye’s cajun fries so addictive, please for fuck sake, stop making cards of your food and making that an NFT, no one gives a shit, truly, what’s the fucking utility of that and how does that garner any value over time?! Looking at you McRib.
What if NFTs could provide x-amount of reservations to your favorite place, to be “burned” or redemeed throughout a certain period of time? Not to mention having the ability to “cash in” on having reservations at a trendy place that you no longer can make, those are the promises of web3 dynamics, maybe if Patrick Bateman could have bought Paul Allen’s Dorsia reservation for 8:30PM, he wouldn’t have ended up a psychotic killer, think of the possibilities!
FWB is a good example of how this dynamic looks like, they threw an event last night where you could purchase an NFT, “Proof of Raver” it sold for 11 ETH or almost $50,000, all going towards the venue they partnered with, imagine what this means for the future of events. The NFT came with its own perks, including 5+ guests, 12 drink tickets and of course, the collectible of a one-of-a-kind event.
Spoonful of News 🥄
Speaking of web3, Snaxshot is also excited to partner with Friends with Benefits (FWB) to host an Afterschool Special event at Highly Likely while in LA. Details to follow.
Coca Cola makes its most expensive acquisition yet, Body Armor sports drink, for $5.6 Billion, taking the company valuation to $8 Billion.
Cultured is yet another company working on lab grown chocolate, recently raised $4 Million.
Bon Appetit takes a page from Food52 and dives further into ecommerce launching their own marketplace.
Re: CPG Celebrity Packaged Goods:
Snax Concierge 🛎️
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