A meal in the metaverse?

It’s getting cold in the crypto land. What’s better than having good food in the metaverse to survive crypto winters?

In recent times, many food brands have joined forces with those in the blockchain industry. One such popular collaboration is OneRare which is the first-ever project to build a metaverse for food, gaming, and NFTs (Non-Fungible Tokens) on the blockchain ecosystem. Similarly, Michelin Star Chef Vikas Khanna, who is no less than a brand himself, has launched his 38th book Sacred Foods of India as an NFT.

Globally, brands like Starbucks, Coca-Cola, McDonald’s, Burger King, and Taco Bell are also venturing into the concept. While experts call such a collaboration a “natural progression,” youngsters are nothing but very excited about this idea.

“Food chains getting into the crypto scene is a natural progression. In fact, the NFT and crypto strategy is no different from their current rewards programmes,” Anndy Lian, chairman, of BigONE Exchange believes. Lian suggested that food chains can start giving NFTs to their young customers instead of giving away toys with meals.

“They can from there start to build more stickiness with their customers at a very young age, from NFT to games to “eat-to-earn” in their own metaverse,” he explained.

NFTs for a ‘Happy Meal’ quotient?

Everyone’s favourite burger chain McDonald’s has shown keen interest in diving into the NFT scene at a global level. While it is not clear if they would introduce any reward programmes any sooner in India, youngsters we got in touch with, say that they would be delighted to be served with a digital gift instead of a happy meal.

“Collecting NFTs instead of a 'Happy Meal' is a good idea as it is about having something that is about or represents something. Before NFT was cool, tangible things had much more value. But nowadays giving NFT as a token of gift is a cool idea,” says Samarth Malhotra, 21, crypto enthusiast. Similarly, Anshita Mathur, 26, IT BA Manager, Axis Bank, also doesn’t mind redeeming reward points into crypto or having NFT collections over physical stuff like happy meals.

“I think we’re over the age of physical collectables and digital art is easier to hold and make a strong collection out of. I don’t think you can hold as much physical art as you can a digital collection,” she said.

On the other hand, while Mukul Jain, 25, Product Manager, ICICI Lombard, also loves the idea of NFTs instead of physical collectables, he is still doubtful whether food chains are going to use blockchain for currency given the government’s compliances in the country.

These digital collectables are valuable as they would come as a form of investment as well. From a very young age, this could become a way to make them learn about finances, which is very rare to experience.

How about a date in the metaverse?

As the restaurant business took a nosedive during the Covid-19 pandemic, fast food brands used a digital-first strategy to their rescue.

One strategy is to introduce NFTs or cryptos to their reward system, the other is to accept cryptocurrencies, and one possible strategy could be to allow customers to have a metaverse experience along with their physical date.

A metaverse dating experience would be different from a Zoom call or a virtual meetup we usually prefer nowadays as it will bring your avatars to meet in another world. Tasting food might not be possible but you can experience meeting someone new in a virtual restaurant-like environment and having conversations over a cup of virtual coffee.

Although it seems to be a good idea to many, people are still sceptical about how it will all turn out.

Raj Kapoor, founder and CEO of India Blockchain Alliance said, “Whether you’re attending a virtual concert, exploring a foreign country, or watching a sporting event, and now the option of meta dating, virtual and augmented reality could make you feel like you’re there and it seems a great immersive experience for long-distance dates and meetups.” However, he finds the concept of metaverse dating a bit scary too at the same time.

“The entire concept could be intriguing, exciting, and even scary. We also may be looking to a future where we are always hooked into a virtual world. I fear it will be a dystopian nightmare,” he added.

Mathur also finds the idea of metaverse dating interesting however she would want to keep the physical element alive too.

“The physical intimacy and emotional aspect might not be the same for me but I am open to trying it out,” she said.

Rhea Mehta, 26, believes that with metaverse dates people would be able to discover more of each other’s personalities in a safer virtual space before actually meeting up. “It would be interesting to see how food companies will create online experiences for dating,” she said.

We are not there yet at our fullest potential but the future of food chains collaborating with blockchain firms seems bright as we speak. It would be really exciting to go on a metaverse date or be able to collect digital gifts which are a form of investment as well. What do you think?