This is a fun game! I like the premise and the immersive elements. It was fun turning boxes into gold and discovering the impact of different potions on the world. Timed levels is a perfect way to encourage players to keep playing, and that works well.
Feedback wise I think you need a bit of movement refinement, the mouse controls were too responsive. I'd also move your first person camera further back in relation to the player. It also felt strange that the items in the game were just lying around, maybe try and think of some world motivated position for them, i.e. in a special box. on a table looking like they are stored or about to be drunk, this can help with player immersion.
If you go further with the game it would be awesome to see some elemental interactions and spreadable effects e.g. fire spreads from box to box etc.
Overall an awesome jam game well done!