Rekt Brands announced that its token, REKT, will launch on Friday at 5am ET. Those who earned Drank Points by purchasing Rekt Drinks brand sparkling water or through participation in the drink brand’s rewards campaign will be eligible to claim the token, along with Rektguy NFT holders.
The token, which had previously been hinted at via the Rekt Coin account on Twitter (aka X), will have a total supply of 420.69 trillion tokens and launch on the Ethereum blockchain.
A total of 63.5% of the token supply is set aside for the community, with 24.3% earmarked for the token generation event (TGE) and airdrop on Friday. The remaining 39.2% will be set aside for future community initiatives, aimed at growing the Rekt Brands ecosystem.
Upon launch, trading of REKT as “REKTCOIN” will be available on Gate.io in select jurisdictions. The token will trade using the REKT ticker elsewhere. Friday’s launch marks the next step for Rekt Brands following the recent Rekt Drinks launch.
“The thing I’m looking forward to the most is being able to onboard thousands of normies into the Rekt ecosystem through Rekt Drinks,” co-founder Ovie Faruq told Decrypt. “From our sales, 50% of them were fiat and only 50% of people claimed DRANK points. That tells me a lot of people out there literally just wanted to buy the drinks, but there is a massive onboarding opportunity.”
(Disclosure: Ovie Faruq’s Canary Labs is an investor in DASTAN, the parent company of Rug Radio and Decrypt.)
Rekt Brands sold out its initial supply of 222,000 “Liquidated Lime” flavored Rekt Drinks in under 48 hours earlier this month, as Decrypt previously covered.
The company spun out of the Rektguy community, a profile picture NFT project that matches the aesthetic of Faruq’s other artworks. Rektguys were created and minted for free on the Ethereum blockchain in May 2022.
Edited by Andrew Hayward
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