The world’s premier destination for OK pancakes, IHOP, recently disappointed Web3 enthusiasts with a bogus NFT drop. Instead of serving up some tasty Non-Fungible Tokens, the dessert maker dished out a mediocre ‘New French Toast’.
Over the preceding week, IHOP had teased details of an exclusive NFT drop, leaving pancake lovers of the Web3 variety salivating in anticipation. When the day finally arrived however, joy turned to devastation as neither NFTs or pancakes were on the menu. Just eggy bread with some fruit on it.
— IHOP (@IHOP) October 6, 2022
Through the campaign, IHOP seemingly looked to leverage the hype of NFTs while simultaneously appeasing the naysayers. Essentially, trying to straddle the middle ground while keeping dessert firmly at the forefront. All in all, a sneaky move from the company who declared ‘National Pancake Day’ on a day that wasn’t shrove Tuesday.
Following the announcement, IHOP told its followers they can purchase the ‘New French Toast’ for 10 PanCoins. The utility coin of its in-house loyalty program dubbed the ‘International Bank of Pancakes’. A not-quite crypto platform that the company could enhance greatly by tying it to a blockchain. Instead, following an archaic model from the dark realms of traditional finance.