Budweiser Joins NFT Frenzy, Purchases Ethereum Beer-Themed Domain Name
Budweiser has become the latest global firm to jump on the non-fungible tokens (NFTs) bandwagon. The company purchased the Ethereum domain name, Beer.eth, alongside an NFT rocket ship.
Budweiser Changes Twitter Profile Picture To Rocket Design
The NFT rocket ship is a rocket artwork that features three components with the Budweiser name and logo. It was custom named “Life of the Party” and purchased 8 ETH (about $25,000 at press time).
Budweiser also bought the domain “beer.eth” for 30 ETH (around $100,000 at press time).
Reflecting on the multiple purchases, Budweiser changed its Twitter profile picture to a rocket ship designed by renowned NFT artist and owner of the NFT platform Rocket Factory Tom Sachs. The Tom Sachs Rocket Factory was launched earlier this month. The factory is a trans-dimensional manufacturing plan, according to a post by Sachs published last month.
Budweiser is yet to announce the NFT purchase officially. However, the beer outfit's social media channels posted an update with three rocket emojis.
Budweiser is the largest-selling beer company in the United States by volume. The brand has become a household name and is available in over 80 countries.
Richard Oppy, VP of global brands at Anheuser-Busch, Budweiser's parent company, had previously announced the company's plan to invest in an NFT media shop in partnership with internet entrepreneur Gary Vaynerchuk.
According to him, NFTs are a huge opportunity for a brand like Budweiser that's been closely associated with art, music, sports, and culture for decades.
Companies Continue To Experiment With NFT
AB InBev has had success with NFTs, having released a project under beer brand Stella Artois for National Fried Chicken Day. The brewer believes NFTs can play a role in limited edition packaging, merchandise drops, collectible items, and others.
Payment giant Visa has also jumped into the NFT scene. A few days ago, the firm announced the purchase of CryptoPunk 7610, one of the thousands of NFT-based digital avatars, for nearly $150,000 in Ethereum.