With absolutely everyone getting into the NFT hype, it was only a matter of time before the American multinational Coca Cola hopped on the bandwagon.
For those familiar with The Next Cartel, NFT’s are something that we are really getting into it’s an incredibly exciting, upcoming industry. But for those who are still not familiar with NFT’s, in short, NFT’s are collectible digital assets, which hold value as a form of cryptocurrency. They can be used to represent items such as photos, videos, audio, and other types of digital files or in the fashion world as digital clothing & sneakers and many other things.
Back to the soda company, Coca-Cola entered the world of non-fungible tokens (NFTs) together with Tafi, a software company which creates custom avatars and 3D branded content. The collection they’re bringing out is a celebration of International Friendship day which was on July 30th and an auction was held for ‘loot boxes’ for the NFT’s which Tafi created. The remarkable thing about the apparel they released is that the pieces can be worn in Decentraland, which is a decentralized open-access 3D virtual reality platform hosted on the Ethereum blockchain.
Profits from the auction will be donated to the Special Olympics – a cause that The Coca-Cola Company has supported since its founding in 1968.
Throughout the event, people were able to bid on the Coca Cola Friendship box, without knowing what was inside of it. The box is designed just like their classic vending machine, but instead of drinks it holds NFT goodies including a futuristic Coca-Cola Bubble Jacket, a refreshed version of the company’s 1940s Friendship Card and finally The Sound Visualizer, which is the bottle cap popped and the fizz of a freshly-poured Coke over ice, as we’ve seen and heard so many times on TV and the radio.
Source: Ledger Insights
The brand’s new NFTs are sensory and interactive, they can be enjoyed time and time again – just like Coke products – Josh Schwarber, Global Digital Design Senior Director for Coca-Cola, for The Drum.
But Coke is the latest of many others testing the waters with the ‘metaverse’ – a shared virtual space at the intersection of the physical and digital worlds. This new experimental brand marketing strategy is something that the huge multinational is eager to join in on, as it creates opportunities to connect with others like never before.
How do you feel about brands like Coca Cola creating these types of NFT collections?