In recent years, the popularity of NFTs has soared. Many celebrities, companies and brands have decided to explore and break records in the fascinating world of NFTs. According to the latest report “Global Non-Fungible Token (NFT) Market 2022” by research firm Research and Markets, the global NFT market is projected to reach $211.72 billion by 2030, with a compound annual growth rate (CAGR) of 33.9% from 2022 to 2030. In this article, we are going to find out which brands recently succumbed to the charm of NFTs and the context in which they use them to connect with their communities.
In January, Lamborghini launched a collection of five exclusive NFTs in collaboration with Swiss artist Fabian Oefner. Created under the theme of space, these collectibles include a Lamborghini Aventador Ultimae blasting through the air, the lower half of which is decomposing. Each NFT symbolizes a piece of carbon fiber that Lamborghini sent into space. A QR code is written on each piece of carbon fiber that points to one of the collectibles. These NFTs sold at auction in February for a total of $659,636.
In July 2021, Coca-Cola released a series of 4 collectibles. Sold as one set, the collection included a vintage cooler and bubble jacket to wear on Decentraland, a sound visualizer that mimics the sound of a drink being poured over ice, and a Coco-Cola friendship card. The series was auctioned on OpenSea for over $575,000. These funds were donated entirely to the charity Special Olympics International. The company then launched a new collection of four NFTs featuring festive digital snow globes.
Adidas, the sportswear giant, teamed up with Prada in January to create an NFT artwork from 3,000 tiles from artists around the world. The work sold for 30 ETH on Supperare, with 15% of the proceeds going to the creators. That said, last month Adidas launched its first collection of NFTs featuring both physical and digital items. These can be used in The Sandbox metaverse. For the launch of these collectibles, Adidas partnered with Bored Ape Yacht Club (BAYC), GMoney and Pixel Vault. He also bought a Bored Ape avatar called “Indigo Hertz”†
Last May, Samsung launched a platform entirely dedicated to non-fungible tokens. baptized “Samsung NFT”, it allows users to search, buy and sell NFTs directly from their TVs. In addition, in January 2022, the leader in home appliances also implemented the Samsung 837X virtual store in the Decentraland metaverse.
In November 2021, on the 40th anniversary of its popular McRib, McDonald’s created a limited edition of 10 NFTs featuring this sandwich. In December, the company created NFTs for a scavenger hunt as part of a virtual event hosted by a California entertainment chain. Then, in February, the chain of fast food American has announced its intention to open a virtual store in the Metaverse, after submitting ten applications for registration of associated trademarks. This virtual restaurant aims to receive real food orders and market NFTs.
In December 2021, Nike entered the world of NFT by acquiring RTFKT Studios, a decentralized digital fashion company. Two months later, the two companies dropped their first collectible. In April 2022, Nike launched its first collection of NFT sneakers, called “Cryptococci”† It contains 20,000 virtual sneakers, including one that sold for $134,000.
Burger launched a marketing campaign around NFTs in September 2021. The company had placed QR codes on nearly 6 million meal boxes. Scanning these QR codes unlocked NFTs, the collection of which could lead to rewards. The operation was carried out in collaboration with the marketplace Sweet.
On the occasion of Louis Vuitton’s 200th anniversary, the luxury French fashion house has created an NFT game called “Louis the Game”† The latter illustrates the heritage of the French leather goods maker through a collection of exclusive collectibles. In addition, the world of video games invites players to discover its history by collecting postcards and other memorabilia.
In December 2021, Pepsi announced plans to create 1,893 NFTs to honor how he left his mark on the music industry. The Pepsi Mic Drop NFT are graphic versions of microphones, inheriting the colors and flavors of the brand. The collection was created in collaboration with VaynerNFT, a consultancy led by communication agency VaynerX.
In January 2022, fashion house Gucci announced its entry into the NFT space with the SuperGucci project. This is a ten-piece collection made in collaboration with toy and fashion brand Web3 Superplastic. Each NFT unlocks a ceramic figurine, handcrafted by the makers of Gucci.
NFTs are still in their infancy, but they have already shown some strengths. Brands adopt them for a variety of reasons, including the desire to: strengthen the bond with their customer base, diversify incentive mechanisms, position themselves as avant-garde, attract a younger audience, open up to a wider geographical audience, to have a unique brand identity on the Internet, etc. In short, the drivers from a commercial point of view are not lacking. So whether you like them or not, NFTs are here to stay.
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I came to blockchain out of curiosity and stayed with it out of passion. I was amazed at the possibilities it offers due to its different usage scenarios. With my pen, I hope to help democratize this technology and show how it can improve the world.