Tezarekt bridges Web2 and Web3, introduces traditional brands to crypto

For Web3 users, this experience goes even further. “When they use the random cocktail generator, they’ll gain points which can be converted into $TEZA (Tezarekt’s native crypto token).” These tokens will then be redeemable for NFTs.

With time, Tezarekt plans to further build this link between its real-world installations and Web3 capabilities such as partnering with Web3 games.

“If a player’s character runs out of health, they’d be able to rejuvenate by buying a drink from one of our installations,” explains Dharni.

Changing dynamics: Web2 and Web3

On face value, one might look at Web3 as a successor to Web2. However, companies like Tezarekt are finding more value in exploring their coexistence.

“Have you seen the market recently?,” Dharni jokes. “We can’t go completely Web3.”

“Our model is more of a hybrid. There’s still a lot of friction in the Web3 space and that’s where our Web2 offerings come in.”

Tezarekt plans to use its real-world installations to support its Web3 ecosystem. For each sale, a percentage of revenue will be used by the company to buy back the $TEZA token and help sustain its value.

While the ultimate goal is to bring people over to Web3, consumers will be able to learn about it at their own pace while making use of Tezarekt’s products.

For businesses and brands, this is a way to adapt to the changing times without alienating a section of their consumer base. With its team of designers and animators, Tezarekt personalises each product and caters to the respective industry of its clients.

“We work with a variety of clients, from dance and e-sports communities to F&B brands,” says Koh. “We’re very versatile in that sense.”

Built for the long run

Trends come and go especially quickly in the Web3 space. There are plenty of projects which die within weeks of inception.

“Everything is just hype-based, and I don’t know how long that can keep going for,” Dharni says. “A lot of projects are simply forcing the Web3 narrative to draw attention before they even come up with a product. They raise funds and exit just as quickly.”

Even projects which have seen immense success can’t seem to make it last because of unsustainable models. Koh cites Axie Infinity as an example. At one point of time, the play-to-earn game allowed users to earn hundreds of dollars through gameplay.

However, the rewards were reliant on new users continuously joining and investing in the ecosystem. Following the crypto market crash, Axie Infinity — along with a host of other play-to-earn games — has suffered immense losses in value.

“You can’t keep pumping the project when there’s no input,” says Koh.

Real-world utility is what separates Tezarekt from a plethora of other Web3 projects which focus on trends rather than their product.

“We offer refreshing social experiences which have never been seen before in the world of commerce,” says Dharni. “Normally, if you go to a merchant, you just pay and get what you want. Tezarekt offers an additional experiential element which a lot of people love.”

“It’s very new for everybody and I think the novelty is here to stay. We believe that Tezarekt will be sustainable over the next 100 years.”

Featured Image Credit: Tezarekt