ONERARE PRESENTS FOOD METAVERSE THAT WILL TRANSFORM THE FOOD AND BEVERAGE INDUSTRY

How do you think blockchain technology will transform the food and beverage industry?

Blockchain technology has the potential to revolutionize the food and beverage industry by providing an environment that is well-suited to support innovation. What I believe blockchain technology brings most powerfully to this industry is the ability to celebrate the customer, which has not been possible through traditional one-way brand communication. What happens is that you are reaching out and selling a direct package to a restaurant, and if somebody loves the restaurant, they are not able to give back in any way. So, what we are doing with blockchain is that we are allowing people to own NFTS and have these loyalty clubs that also give back to them, making the whole experience more of community led.

How is the foodverse or food metaverse different from other food technologies, and what advantages does it have over them?

Our company was actually one of the pioneers of the food metaverse concept, having started in January 2021. While there are now many others attempting to do what we do, we differentiate ourselves by starting with an NFT game. Our approach involved using smart contracts and a unique tech stack that sets us apart from our competitors. In terms of advantages, the food metaverse concept allows for greater community involvement and ownership of food-related experiences. It also provides a more engaging and immersive way to interact with food and beverage brands, as well as the potential for new revenue streams through the use of NFTs and loyalty clubs.

Can you tell us more about OneRare and how it uses the technology to make the F&B industry of Middle East grow?

At OneRare, we use technology to help brands create their first NFTs and launch virtual restaurant experiences. For example we worked with Papa Johns, which will help them not to just show themselves to the UAE market, but actually to the global market. Similarly, we partnered with smaller brands such as Bhukkad Cafs to help them launch their first NFTs, which has given them exposure to a wider audience and enabled them to consider franchising to other parts of the world.

In addition to launching NFTs, we also work with larger brands like Farzi Café to create immersive metaverse experiences. For example, we are currently building a Farzi Café treasure hunt game where players can win NFTs that they can redeem for a meal at the restaurant. This type of experience not only engages customers virtually but also drives traffic back to the physical restaurant.

How do you plan to ensure the security of the food metaverse against cyber attacks?

We are a brand-led metaverse, working only with verified food and beverage businesses. This allows us to control the content that goes out and ensure that everyone knows who their neighbors are, reducing the risk of cyber attacks. Unlike userowned metaverses like Sandbox or Decentraland, where anyone can buy a plot of land and build on it, we have a more controlled environment that prioritizes security.