NFT
Introduction
N-F-T (non fungible token), a word with 3 letters that every day is becoming more and more relevant around the world…
And in order to introduce us to it, we must understand that NFTs are not a resource that only artists use, NFTs are not just for tech guys, NFTs are not a scam, NFTs are not a small market…. NFTs are the new way to interact through the digital economy, the new way to market and brand, the new way to develop business, NFTs are part of a billion dollar market that now the biggest brands in the world are paying attention to.
Since the big sale of Beeple ($69,3 M) the market evolved in such a way that thousands of projects started to appear, new infrastructure started to be created and thousands of people started to invest. The market changed and evolved to receive mass adoption.
Today we are seeing how this is starting to happen, and much of this work will be the responsibility of the companies that run the world.
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Let’s look at the most interesting cases of companies developing NFTs:
Coca Cola NFT Collection
Coca-Cola’s foray into the fast-growing metaverse was a big hit with fans and the crypto community, with the brand’s first-ever NFT (Non-Fungible Token) collectibles garnering a winning bid of $575,883.61 in an online auction.
For its digital asset debut, Coca-Cola reimagined some of the brand’s iconic assets for the metaverse — with dynamic motion, movement and multisensorial elements—inspired by shared moments of friendship.
Coca-Cola partnered with Tafi, a Utah-based startup that makes avatars and other virtual content to resurrect a pixelated version of Coke’s classic 1956 vending machine. However, instead of cans of soda inside, the “Friendship Box” is meant to be like a “loot box” in video games.
In this collection, the winning bidder was promised that will also receive an in-real-life Coca-Cola refrigerator. The retro, made-in-Italy SMEG FAB28—which officially hits the market in November—will be fully stocked with ice-cold Coca-Cola to share with friends.
Another surprise to go with our NFTs. A real-life, retro Coca-Cola fridge! Made in Italy. Custom-made and stocked with ice-cold Coca-Cola to be shared with friends. https://t.co/SIJ0HnNfdu#smegusa #NFTcommunity #OpenSeaNFT pic.twitter.com/onCnYveOJw
— Coca-Cola (@CocaCola) July 30, 2021
Metamask allows you to add different networks such as Ethereum, Binance Smartchain, Fantom, and Avalanche. Which makes it easy to manage your cryptocurrencies all under one wallet. To add an extra layer of security, you could connect your Ledger hardwallet to Metamask.
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Mclaren Racing Collective
McLaren announced the creation of the McLaren Racing Collective, a global community of collectors and fans served through an innovative digital platform, where fans can buy McLaren Racing digital collectables in the form of non-fungible tokens (NFTs).
The platform will be McLaren Racing’s primary location to allow fans and blockchain enthusiasts alike to engage with the brand, with the first drop featuring different digital components of the MCL35M 2021 Formula 1 race cars, originated from the McLaren Racing CAD system.
The initial digital components will be gifted free to fans who join the McLaren Racing Collective platform. From there, fans can collect one or multiple components as they are released in an experience which enables fans to accumulate all 22 available components and assemble the full digital MCL35M race car.
But why should a person think of collecting all the pieces? Because of the incredible reward! The first person to complete a full MCL35M will win a trip to a McLaren Formula 1 VIP race weekend experience in 2022.
Budweiser & His Collection: “Key to the Budverse”
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Popular beer brand Budweiser was a surprising entrant to the NFT space in August, when it purchased a Bud-themed piece from Tom Sachs’ Rocket Factory collection and used it for the brand’s official Twitter page. Now Budweiser is launching its own NFTs, and they’ll be an entry pass to the company’s larger ambitions in the crypto space.
Budweiser released its first series of NFTs, dubbed Budverse Cans: Heritage Edition. The series span 1,936 individual NFT collectibles, referencing the year the company first started releasing beer in cans. Each NFT features elements of classic photos, ads, and design documents charting the history of the brand.
The NFTs could be purchased by consumers above drinking age through Budweiser’s website using cryptocurrency or regular credit cards. The pricing of the item depended on their scarcity, as Budweiser launched two collections Core Heritage and Gold Heritage. A total of 1900 Core Heritage NFTs were minted and priced at $499. The other 36 NFTs were part of the Gold Heritage set and sold for $999 each.
The collection was dropped last week and sold out in less than one hour. Within a matter of hours, 400 have already been sold for around $2,000 each, representing a quick $1,500 profit for early buyers. Almost 1500 of the NFTs, or 75%, are currently listed for sale on NFT marketplace OpenSea.
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Robert Mondavi
Robert Mondavi Winery is experimenting with non-fungible tokens as a way to authenticate the wine from its vineyards for collectors worried about counterfeit vintages.
Is one of the first major wineries to dive into this arena with their Robert Mondavi Winery x Bernardaud collection; three exclusive wines in 1,966 magnum-size porcelain bottles (after the winery’s founding year) that will be sold by NFT and featuring a work of generative art by artist Clay Heaton. Each bottle will sell for $3,500.
Hanson believes that the NFTs will help towards solving another problem for many in the wine world. “There’s a large amount of fine wine in circulation that is counterfeit,” says Hanson. “There will be a QR code attached to each bottle that will enable people to track it. Once someone has taken ownership it’s their choice to trade it or keep it — but I think they’re going to want to keep it.”
Robert Mondavi worked with VaynerX, a division of VaynerMedia run by NFT-enthusiast Gary Vaynerchuk, to launch this limited series of artistically designed wine bottles.
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Gary Vaynerchuk mints NFTs for his Book Launch
The publishing world has been trying to figure out how to work NFTs into the business model, and it makes sense that Gary Vaynerchuk cracked it with his latest book that comes with a non-fungible token.
Gary, has been promoting his new book “Twelve and a Half: Leveraging the Emotional Ingredients Necessary for Business Success” by offering a new NFT to those who buy a dozen copies.
Those who bought at least a dozen copies, about $240 worth of books, will also receive an NFT called “Veefriends: Book Games.” Vaynerchuk, the motivational marketer, has been on an NFT high all year, bullish about the prospects of the crypto-technology.
The number of presales for Twelve and a Half caused its release date to be pushed back by two weeks, factoring into the ongoing delays in much of the publishing industry. It’s a logistical challenge multiple times over, but people seem to be eager to embrace this approach. The Wall Street Journal writes that the average person who took advantage of this NFT preorder offer bought 36 books. One of the people interviewed ordered quite a bit more: 1,008.
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Baby Shark creates an NFT collection for the kids
SmartStudy, the South Korean company behind brand Pinkfong and viral children’s song-turned-cultural phenomenon “Baby Shark,” has announced its first foray into the NFT marketplace. It is partnering with non-fungible token hub MakersPlace and Sony Music to launch the Baby Shark Collection.
Since debuting on YouTube in June 2016, “Baby Shark” has received a Diamond certification from the RIAA based on sales of more than 11 million copies; the song also reached a peak of Nro. 32 on Billboard’s Hot 100. It’s currently the most-watched YouTube video of all time with over 9.8 billion views to date.
The six-piece collection, now available on MakersPlace, includes one unique (1/1) piece and five limited edition pieces that feature Baby Shark and his family in original, loop-able animations inspired by holographic collectors’ playing cards. Each piece is accompanied by audio referencing the “Baby Shark” song.
The unique piece, titled “Baby Shark No. 1,” is a one-minute long digital NFT that shows Baby Shark journeying “through a newly reimagined dream-like underwater world, seen through a lens that portrays Baby Shark in a captivating new light,” according to a press release. The music that plays over the visual is described as “a classically composed, bespoke, electronic movement built around” the original song. The winner of the piece will receive a custom vinyl, created by Pinkfong to accompany the NFT, that will feature music from the digital piece along with accompanying artwork.
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Bacardi Empowers Women With NFTs
Bacardi is taking its approach to the next level by pairing purpose with blockchain technology and empowering people to invest in women in music production.
Bacardi and BBDO NY teamed with Grammy-winning producer Boi-1da to launch a collection of music NFTs aimed at addressing gender disparities in the music industry. According to a representative from BBDO, only 2% of music producers are women. That’s why the NFT collection, called “Music Liberates Music,” included three tracks from female Caribbean producers Bambii, Denise De’ion and Perfxn.
Bacardi’s latest campaign takes this engagement one step further by allowing buyers to have an ongoing financial investment in their NFTs. As streams go up, so do the royalties that consumers can earn, which could establish a deeper connection among consumer, artist and brand.
The holders of the three NFTs will also receive unique animated art from Serwah Arrufuah, an afrofuturist designer, and promotional kits to promote their track’s artist and build up streaming figures.
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State Farm launches NFT treasure hunt
State Farm launched an augmented reality (AR) treasure hunt for mobile users to find more than 500,000 virtual footballs. The experience, which started quarterbacks Aaron Rodgers and Patrick Mahomes, debuts ahead of the Packers-Chiefs game on Nov. 7.
Participants of the AR treasure hunt can find and collect virtual footballs on a microsite via smartphone to redeem for prizes like non fungible tokens (NFTs), autographed merchandise, apparel and gift cards. All players will win an NFT after completing the game’s first level and will have the chance to earn one of several limited-edition NFTs. Once a player clicks on a football in the game, other players will no longer see it.
The NFTs were designed by Florian, an award-winning generative simulation artist, and Karolina Sereikaite, an award-winning fluid and physics simulation artist.
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Arizona Iced Tea launches Bored Ape Yacht Club NFT Comic
On August 20, the popular beverage producer and brand Arizona Iced Tea revealed the firm has dipped its toes into the world of non-fungible token (NFT) assets. In fact, this did not stop there, the New York-based Arizona beverage company collaborated with the Bored Ape Yacht Club and introduced an “Arizona Aped” NFT comic.
The official Arizona Iced Tea Twitter handle also tweeted a shoutout to the Twitter handle @boredapecomic and the website boredapecomic.com. The website explains that the “Bored Ape Comic #1 is officially available to mint for 0.04 ETH & limited to 10,000 copies. Bored Ape Comic #1 introduces an amazing cast of Bored Apes as they enter the metaverse,” the web portal adds.
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Disney Joining the NFT Space
On Friday, November 12, the first Disney+ Day was held. On the occasion of this special event, the company will launch its first set of limited edition digital collectibles. It will do so through VeVe, a marketplace of NFTs that has the exclusivity for the moment of the Mickey Mouse brand collectibles.
These collectibles are called Disney Golden Moments. Each day from November 7 through November 12, batches were being released through the VeVe store, which can be easily accessed through their apps on iOS or Android.
Part of the “fun” of these boxes with Disney Golden Moments is that they are secret. We will not know the contents inside until we proceed to open them. Inside we can find figures of Disney characters, some of their accessories or even 3D recreations of their vehicles, houses or emblematic places of their universes.
All of the products that have been released are worth $60. Each edition has a total of 12,333 units and are available globally, so there is no regional restriction to access these NFTs.
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Adidas enter the Metaverse with Strategic Partnerships
Today we leap Into The Metaverse with @BoredApeYC, @gmoneyNFT & @punkscomic.
— adidas Originals (@adidasoriginals) December 2, 2021
It’s time to enter a world of limitless possibilities.https://t.co/LmgtrRn20c pic.twitter.com/40kU8tayrS
Adidas wants the world to know it is entering the world of blockchain technology and metaverse collectibles in a big way. On December 2, the company’s Twitter account announced that it teamed up with the cryptocurrency investor Gmoney, the Bored Ape Yacht Club (BAYC) NFT project, and Punks Comic.
The company has also updated its Twitter profile picture with a BAYC image. Adidas purchased Bored Ape Yacht Club #8,774 which was last sold for 46 ether or $156K at the time of settlement.
It has not yet been revealed when the BAYC and Adidas merged NFTs will be issued and released to the public. During last week’s reveal, Adidas detailed it was partnering with the crypto exchange giant Coinbase but also explained it was working with The Sandbox virtual blockchain world. The complete details of The Sandbox collaboration has yet to be revealed as well.
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RTFKT Digital Fashion
We can say that RTFKT is the leading company inside the metaverse developing fashion.
For Chinese New Year, the brand designed a unique Digital Sneaker and put it up for auction, unexpectedly reaching $28,000.
After that, the brand decided to do a collaboration with an artist called FEWOCiOUS to create a new collection generating more than 3 Million, totally insane.
They are also planning their collection of NFTs that at a glance you can recognize the quality of it. They were created under the following philosophy:
“CLONE X Corp was founded by three extraterrestrials who came from the planet of Orbitar in the Draco constellation. These interplanetary tourists have come to accelerate our evolution towards an immaterial existence. They plan to transfer all human consciousness into advanced clone forms to create the ultimate Metaverse”
Twitter involving with NFTs
NFTs can help you build your brand and create unique experiences, exactly what Twitter did recently. They released it’s own Collection dropping out 140 Twitter-themed NFTs to the users.
What’s the trick here? Twitter didn’t sell overpriced NFTs, people must reply to their tweets to have a chance of winning. Actually, they were free.
Yes, they could sell them and make a fortune but they didn’t do it. They launched this collection to make everyone talk good about their brand, that’s called branding. Who doesn’t want free stuff? They also put a single requirement to be able to win them, interact with their tweets.
By launching this collection Twitter got everything a brand wants, Visibility and Interaction.
Kings of Leon NFTs Collection
Back in March, Kings of Leon released their album titled “When You See Yourself”, in the form of a non-fungible token (NFT) — becoming the first band to ever do so.
The band actually dropped three types of tokens as part of a series called “NFT Yourself”. One type is a special album package, while a second type offers live show perks like front-row seats for life, and a third type is just for exclusive audiovisual art.
All three types of tokens offer art designed by the band’s longtime creative partner Night After Night; the smart contracts and intelligence within the tokens were developed by YellowHeart, a company that wants to use blockchain technology to bring value back to music and better direct-to-fan relationships.
By launching this collection Twitter got everything a brand wants, Visibility and Interaction.
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Summary
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