Toast the cocoa nibs in a dry skillet over medium heat, shaking the pan occasionally, until they become aromatic (about 2–3 minutes). Watch carefully to avoid burning.

Combine toasted cocoa nibs, water, and sugar in a small saucepan. Bring to a gentle simmer over medium-low heat, stirring until the sugar dissolves. Simmer 5 minutes to extract flavor, then remove from heat.

Let the mixture steep for 20–30 minutes at room temperature. Strain through a fine-mesh sieve or cheesecloth into a jar, pressing the nibs to extract syrup. Cool completely. Refrigerate up to 2 weeks.

Cocktail assembly

Chill glass

Place an Old Fashioned (rocks) glass in the freezer for a few minutes or add a handful of ice to chill while you prepare the cocktail.

Add 2 oz Jack Daniel's, 0.5 oz Nixta (or substitute), 0.5 oz banana liqueur (or 0.5 oz banana syrup), 0.5 oz cocoa-nib syrup, 3 dashes orange bitters and 1 dash Angostura bitters (optional) into a mixing glass.

Fill the mixing glass with large ice and stir gently but thoroughly for 20–30 seconds until the cocktail is well chilled and slightly diluted (should be glossy and cold to the touch).

Discard ice from the chilled Old Fashioned glass (if you used it), place one large clear ice cube into the glass, and strain the stirred cocktail over the cube.

Express an orange peel over the drink by holding it skin-side down above the glass and giving it a firm twist to release oils; rub the peel around the rim and drop it into the drink.

Lightly sprinkle the crushed toasted cocoa nibs (about 1 tsp) on the surface of the cocktail for aroma and a slight crunch. Serve immediately.