In brief
- Rekt Brands sold its 1 millionth can of its Rekt Drinks flavored sparkling water.
- The Web3 firm collaborated with payments infrastructure company MoonPay on a peach-raspberry flavor called “Moon Crush.”
- Rekt incentivizes purchasers of its drinks with the REKT token, which hit an all-time high market cap of $583 million in August.
Web3 consumer firm Rekt Brands sold its 1 millionth can of its Rekt Drinks sparkling water on Friday, surpassing its first major milestone with the sold-out drop of its “Moon Crush” flavor—a peach raspberry-flavored collaboration with payments infrastructure firm MoonPay.
The sale follows Rekt’s previous sellout collaborations with leading Web3 brands like Solana DeFi protocol Jupiter, Ethereum layer-2 network Abstract, and Coinbase’s layer-2 network, Base. Rekt has already worked with a number of crypto-native brands, but says it has been choosy when cultivating collabs.
“We have received a large amount of incoming enquiries from some of crypto’s biggest brands, but it’s super important for us to be selective in order to maintain the premium feel of Rekt,” Rekt Brands co-founder and CEO Ovie Faruq told Decrypt.
(Disclosure: Ovie Faruq’s Canary Labs is an investor in DASTAN, the parent company of Decrypt.)
“We look to work with brands who are able to form partnerships that we feel are truly strategic to Rekt’s goal of becoming one of the largest global beverage brands,” he added.
In particular, Faruq highlighted MoonPay’s role as a “gateway” between non-crypto and crypto users as a reason the collaboration made “perfect sense.”
“We’re thrilled to bring something to life that is both delicious and deeply connected to the crypto community,” MoonPay President Keith Grossman told Decrypt.
Rekt Brands has been bridging the gap between Web3 and the real world with sales of its sparkling water since November 2024. In its first sale, Rekt sold 220,000 cans of its “Liquidated Lime” flavor in less than 48 hours, incentivizing drink buyers with “Drank Points”—the brand’s points program that ultimately manifested in the launch of the REKT crypto token.
While few outside of crypto had heard of the brand at that point, Faruq told Decrypt in June that momentum started to build after it sold out collaborations with Abstract and NFT marketplace OpenSea.
Shortly after, the brand earned placement in three different Southern California 7/11 locations.
Rekt’s Ethereum token reached an all-time high market cap of around $583 million in August, growing nearly 1,400% from its November 2024 launch. It is now trading around a $341 million market cap.
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