NFT’s Are All the Rage; Charmin to Release First-Ever Non-Fungible Token by a Toilet Paper Brand
After Taco Bell, Pizza Hut, and Quartz, the toilet paper brand Charmin has joined the hot trend of launching NFTs as well.
Manufactured by Procter & Gamble, Charmin announced last week that they are rolling out their first-ever non-fungible token by a toilet paper brand because “Sometimes a better bathroom experience goes beyond the seat.”
Currently, there are six digital collectibles on sale on the NFT marketplace Rarible, with the bids on them ranging between 0.3 WETH to 1.25 WETH. As of writing, 1 WETH is worth $1,790.
Each of the virtual rolls comes with a physical display whose proceeds will be donated to Direct Relief.
Charmin is no stranger to joining the up-and-coming trends, as just last year, it released a Bluetooth-enabled robot that delivers toilet paper to the bathroom when users run out.
NFTs are all the rage right now, exploding in popularity this year as people spend millions of dollars on digital collectibles. Interest in NFTs, as per Google Trends, is now outpacing decentralized finance (DeFi) by a wide margin.
Just last week, Kansas City Chiefs Patrick Mahomes also jumped in by announcing a selection of NFT artworks and collectibles, which raked in $3.4 Million in a matter of 30 minutes. All of this NFT mania has the shares of the companies hopping on the NFT trend also enjoying an explosive performance.
Prices of shipping and logistics company Sino-Global Shipping America have risen over 300% this year. In recent weeks, the $123 million market cap company said it would accept BTC as payment and that it will launch an exchange for NFTs with e-commerce public chain CyberMiles.
Another company, pipe maker ZK International Group, said its subsidiary xSigma Corp would develop an NFT marketplace, resulting in its stocks surging, up 240% YTD.
One of the world's largest brokers of fine and decorative art, collectibles, and others, auction company Sotheby's is also working with anonymous digital artist PAK. “It's still very early with crypto art in general,” said CEO Charles Stewart on NFTs. “This has the potential to bypass a lot of the traditional gatekeepers.
According to the crypto market, NFTs are just the beginning “as a new form of value storage and transmission.”