Kate Irwin

This is a segment from The Drop newsletter. To read full editions, <a href="https://blockworks.co/newsletter/thedrop" target="_blank" rel="noreferrer noopener">subscribe</a>.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



There’s now sparkling water that comes with an Abstract NFT and points attached.



Rekt Brands — a crypto startup from the traders known on X as OSF (Ovie Faruq) and RektMando on social media — has launched a new drink. It’s a sparkling water dubbed Abstract Apple.



Like its name suggests, Abstract Apple offers rewards for the Ethereum L2 chain Abstract. Each case of 24 cans <a href="https://x.com/rektdrinks/status/1919436083495874907">grants</a> the buyer <a href="https://x.com/AbstractChain/status/1880035786772607487">Abstract XP</a> and 25,000 DRANK points (Rekt’s rewards points), plus an Abstract NFT. Next week, case buyers <a href="https://x.com/rektdrinks/status/1919436103536324689">can collect</a> their Abstract NFTs.&nbsp;



Each case costs $69.69 (plus shipping and applicable tax, of course), and can be bought using crypto or fiat currencies.



Buyers could purchase up to 250 cases per order, but could place multiple orders.&nbsp;



That’s a LOT of cans.



<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcDqFQMe7tm3TdpwYmP8X3Kg5PtfMjKct8FSCmWCRp-98-KU2Pb_1Rsu6MUVHoWgAkds0U7lJQJcDqIcc3eVZaDckOkZvMKFtSUDipuZPjjLNArQ9M9z_lOrC4vKjjr07OzqEGE?key=OT2IUAxfUKjU_-OIb83isQ" alt=""/></figure>



From Abstract team member <a href="https://x.com/Rajp_14">Raj on X</a>.



While the launch sold out on Wednesday, with over 220,000 cans of sparkling water purchased, the Rekt team said extra DRANK points were being given out by mistake.



“Devs are on it, will get it fixed,” the brand <a href="https://x.com/rektdrinks/status/1920187030505488411">said</a> in a post.



A member of the Abstract team confirmed to me that they aren’t involved in this project, but they said that future collabs between Rekt and Abstract are being explored.



Rekt Brands’ first drink, a lime-flavored sparkling water, was announced in November and similarly sold <a href="https://x.com/rektdrinks/status/1852734297985417511">over 220,000 cans</a> within 48 hours.



Rekt Brands previously <a href="https://chainwire.org/2024/11/07/rekt-raises-1-5m-seed-round-backed-by-angels-and-community-following-sell-out-success-of-rekt-drinks/">raised $1.5 million</a> in seeding funding late last year. Their brand was created following the 2022 NFT collection OSF launched called Rektguy.



Others have tried to bring crypto to the food and drink industry before, though the efforts thus far have primarily come from holders of <a href="https://blockworks.co/tag/bored-ape-yacht-club">Bored Ape Yacht Club</a> NFTs. There’s Ape Water, for instance, which is canned water with a Bored Ape emblazoned across it. In 2023, Snoop Dogg released ice cream inspired by his Bored Ape.



There was also a short-lived Bored Ape-themed burger joint, Bored &amp; Hungry, which I visited back in 2022 (food was good, but most of the people there had zero clue what the Apes were, and didn’t care).



In the case of Rekt Brands, its limited-edition runs of sparkling water that you only hear about on Crypto Twitter don’t seem to be targeting the masses — but broader distribution may be coming soon.



Rekt is planning to release new flavors and bring back older ones, too, in future drops. It may also expand beyond just sparkling water.



“Our goal is to have mainstream distribution and we have been actively working on it over the past few months. There will be a point where people can get their hands on Rekt in their local store,” OSF told me in a DM, adding: “Maybe for some that&#8217;s sooner than they think.”



<hr class="wp-block-separator has-alpha-channel-opacity"/>



Get the news in your inbox. Explore Blockworks newsletters:



<ul class="wp-block-list">
<li><a href="https://blockworks.co/newsletter/thebreakdown">The Breakdown</a>: Decoding crypto and the markets. Daily.</li>



<li><a href="https://blockworks.co/newsletter/empire">Empire</a>: Crypto news and analysis to start your day.</li>



<li><a href="https://blockworks.co/newsletter/forwardguidance">Forward Guidance</a>: The intersection of crypto, macro and policy.</li>



<li><a href="https://blockworks.co/newsletter/0xresearch">0xResearch</a>: Alpha directly in your inbox.</li>



<li><a href="https://blockworks.co/newsletter/lightspeed">Lightspeed</a>: All things Solana.</li>



<li><a href="https://blockworks.co/newsletter/thedrop">The Drop</a>: Apps, games, memes and more.</li>



<li><a href="https://blockworks.co/newsletter/supplyshock">Supply Shock</a>: Bitcoin, bitcoin, bitcoin.</li>
</ul>

food

Drink-to-earn? A new sparkling water comes with an NFT and points

On this episode of &#8220;<a href="https://youtu.be/ZP-8UcAkjUA" target="_blank" rel="noreferrer noopener">On the Margin</a>,&#8221; Blockworks Co-founder Mike Ippolito is joined by returning guest and former hedge fund manager Russell Clark of Russell Clark Investment Management. After spending over a decade as an investment manager, Russell joins &#8220;On The Margin&#8221; to discuss the period of change we find ourselves in. 



From trends in inflation to the evolution of market structure and reliance on clearing houses, Russell provides a big picture macro framework for thinking about markets and the world more broadly. 



Russell also shares his thoughts on the connection between real wages and food prices and what the conflict in Ukraine means for food.



They also cover: 



<ul class="wp-block-list"><li>Russell&#8217;s market outlook</li><li>the unwinding of the petrodollar system</li><li>Russian debt default and market volatility</li><li>recent price action in commodities</li><li>and so much more</li></ul>



Watch the full episode below! 👇



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Food Inflation is Starting to Bite with Russell Clark" width="1024" height="576" src="https://www.youtube.com/embed/ZP-8UcAkjUA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
</div></figure>



&#8220;On the Margin&#8221; is a two-part show.&nbsp;Once a week, Mike interviews industry experts. At the end of the week, he is joined by a co-host where they break down the top crypto and macro stories. Episodes go live every Wednesday and Saturday morning.



Subscribe to &#8220;On the Margin&#8221; today on <a href="https://podcasts.apple.com/us/podcast/on-the-margin/id1558223079" target="_blank" rel="noreferrer noopener">Apple</a> or <a href="https://open.spotify.com/show/2yFL2nSsQucf1rzdEKbFZY" target="_blank" rel="noreferrer noopener">Spotify</a>, or watch episodes on <a href="https://youtube.com/playlist?list=PLvER9nHSRN3xVs_p-dl7L7K_ZgL6lSudu" target="_blank" rel="noreferrer noopener">YouTube</a>.



<hr class="wp-block-separator"/>



Get the day’s top crypto news and insights delivered to your inbox every evening.&nbsp;<a target="_blank" href="https://cms.blockworks.co/newsletter/?source=end" rel="noreferrer noopener">Subscribe to Blockworks’ free newsletter</a>&nbsp;now. 



<hr class="wp-block-separator"/>