Brand Investments on NFTs Soaring

Non-Fungible Tokens (NFTs) have become important components of digital collectibles, and brand NFTs are gaining traction, as companies recognize new opportunities that require developing new marketing strategies.

Let's look at some of the top brands that have invested in NFTs recently:

E-commerce Platforms: eBay and Shopify

The eBay website now allows customers to buy and sell NFT collections. Additionally, the company recently acquired KnownOrigin, a popular NFT marketplace. eBay also launched its first collection of NFTs on May 23 in partnership with the NFT platform OneOf.

Further, NFT merchants can now sell directly to collectors through their storefronts in Shopify, similar to how other businesses use the platform. In addition, the Ottawa-based company hopes to make NFTs more accessible by allowing credit and debit card payments.

Sneakers: Adidas and Nike

With a collaboration with Bored Ape Yacht Club, Adidas released its first digital and physical NFT drop. In addition, Adidas NFTs offered access to virtual wearables in the metaverse platform, The Sandbox. Adidas also announced a collaboration with Prada for an NFT project in January 2022.

Another popular sneaker brand, Nike, recently launched Cryptokicks with RFTFKT studios, its first virtual sneaker collection featuring 20,000 unique NFTs. Taking advantage of personalization and curiosity, the Nike Cryptokicks NFT collection generated considerable buzz.

Luxury Fashion: Louis Vuitton, Prada, Ray-Ban

For the 200th birth anniversary of Louis Vuitton in August 2021, the brand created Louis The Game, highlighting its history through NFTs and in-game innovations. As part of the video game, there was even a character named Vivienne, who is designed to resemble Louis Vuitton.

In addition, Prada launched around 100 Ethereum-based NFTs in June 2022, as part of its ongoing Timecapsule collection. Those who purchased items from Prada's latest collection through Timecapsule would receive a free NFT airdrop.

The NFTs are GIFs of a black or white capsule with a serial number. However, there are also physical apparel items included in the NFTs by Prada.

In addition, Gucci and Balenciaga had also joined the NFT trend earlier.

Further, Ray-Ban entered the NFT space in october 2021, featuring the brand's iconic Aviator sunglasses. The NFT was designed by Oliver Latta, a German artist known for his provocative 3D motion designs. Ray-Ban auctioned the NFT collection on OpenSea, with proceeds benefiting the Italian Art Trust.

Fast Food: McDonald's and Burger King

In November 2021, McDonald's celebrated the 40th anniversary of the McRib with a limited edition of McRib NFTs. There were around 10 MCNFTs with a virtual collectible art collection to be won by retweeting the brand's invitation.

Additionally, Burger King announced in September 2021 that it would launch a campaign called "Keep It Real Meals" in collaboration with the NFT marketplace Sweet.

Nearly 6 million meal boxes were tethered to QR codes as part of this NFT initiative. The QR codes unlocked a digital collectible from Burger King; by scanning them, you could unlock bonus NFTs.

Soft Drinks: Coca-Cola and Pepsi

Coca-Cola introduced its first NFT collection in 2021 and has introduced new NFT collectibles in 2022. For Pride Month in July 2022, the company released 136 NFTs; for International Friendship Day in August 2022, it released a new set of NFTs.

Additionally, the soft drink company sold its first NFT collection on the OpenSea NFT marketplace as a single "loot box." The proceeds from the auction of Coca-Cola NFTs were donated to Special Olympics International.

Further, with the “Pepsi Mic Drop” genesis NFT collection, Pepsi made its first foray into the world of NFTs. In honor of Pepsi's birth year, Pepsi announced it would create 1,893 unique generative-style NFTs.

Pepsi Mic Drop NFTs were based on variations of a microphone visual and inspired by iconic Pepsi flavors, including classic blue Pepsi and silver diet Pepsi.

Apart from the above, other notable brands that announced their move into the NFT space are TicketMaster, Lamborghini, Formula 1, Samsung and Mattel.

As you can see, NFTs have gained traction among major established companies in many sectors, and the debate continues over how brands can and should use NFTs.

Next week we will be back with more exciting developments in the NFT space. Until then, stay tuned. Buh-bye!