Non-Fungible Tokens NFTs have grown to become a huge industry with compelling innovations and use cases. The numerous purposes NFTs serve have made them mainstream and widely accepted. A lot of traditional companies have leveraged this opportunity and have made giant strides in the NFT space. This article seeks to examine twelve of these traditional companies.
Nike acquired RTFKT, a firm that makes use of the latest in-game engines, blockchain authentication, NFTs, and real-life events to launch its virtual shoe store. Through this, the company can promote athletes, organizations, and themselves. In addition to this, to guarantee the authenticity of all sneakers purchased, Nike set up a platform called “CryptoKick.” On Cryptokick, digital versions of the sneakers purchased are uploaded. This digital version serves as a seal of authenticity to guarantee the authenticity of the purchased sneakers.
Coca-Cola made its first and official NFT decision on the 30th of July 2021. The day being an international friendship day, each of the NFTs in the collection was inspired by shared moments of friendship. One of the arts is a futuristic redesign of the Coca-Cola delivery jacket that can be worn digitally on Central Land. The main purpose of this campaign was to raise funds for Special Olympics International. Hence, all the proceeds from this auction went for this cause. Coca-Cola in July 2022 released a new set of collectibles to its community in celebration of its first year in the Metaverse.
3. Louis Vuitton
The French clothing line, Louis Vuitton has also dipped its toe into the world of NFTs. To navigate and explore the world of NFTs, Louis Vuitton created a game called “Louis The Game.” In the game, players can go to the in-game fashion store to collect monogram candles which is a necessity to advance to other levels. Players also get to customize their in-game characters with different Louis Vuitton digital items. These candle monograms and clothing items are NFTs that facilitate the playing of the game.
4. Authentic Brand Group (ABG)
The brand development, marketing, and entertainment agency ABG has partnered with NFT platforms Binance and NFkings to create a collection of Marilvn Monroe NFTs. The first collection was made in collaboration with Tokidoki, a Japanese-style lifestyle brand, which presents Monroe in the brand’s style. A total of 25,000 Marilyn Monroe NFTs were launched in December 2021 on Binance and it is available for buyers to purchase at $20 and each buyer can purchase 100 boxes.
5. Burger King
In September 2021, Burger king announced the launch of its NFT campaign called the “Keep It Real Meals” initiative. This campaign is a result of a collaboration with Sweet NFT marketplace. These NFTs are concealed in QR codes on about 6 million meal boxes. Scanning these QR codes unlocks the NFT.
Adidas just like its counterpart Nike has entered the Metaverse and the world of NFTs. In doing this, Adidas has partnered with Bored Ape Yacht Club, NFT influencer and collector Gmoney, and Pixel Vault, an intellectual property group focused on crypto assets. From this partnership, NFT collections are created. These NFTs provide owners access to virtual clothing designed for in-game characters. In addition to this, Adidas has developed a Polygon-based NFT project where fans can create their virtual apparel for their in-game characters.
7. Taco Bells
Taco Bell, one of the renowned fast foods in Europe and the United States has also explored the NFT space. In February 2021, Taco Bell made and put on sale a collection of NFT gifts on a community-centric marketplace Rarible, which sold out in under 30 minutes. This was to help raise funds for a scholarship program. An art that was originally sold for $1.79 later gained a resale value of $3000 which is still on the increase.
Lamborghini, an automobile company, launched a space-themed NFT collection in January 2022. The main story behind the creation of the NFT dates back to 2019 when Lamborghini sent a piece of carbon fibre composite to the International Space Station (ISS) for research purposes, as a part of a joint research project. The physical space keys are made from the material of this research project. Each of these keys has both the physical and the digital version. To gain access to the digital version which is the NFT, the QR code on the back of the physical key will be scanned.
In 2021, Pepsi took its first step into the vast world of NFTs with the ‘Pepsi Mic Drop’ genesis NFT collection. As announced by Pepsi, the aim is to create 1,893 unique generative-style NFTs. These 1,893 arts are to mark the year in which Pepsi was created. The exclusive generative traits of the Pepsi Mic Drop genesis NFT collection, are randomly generated by an algorithm that makes each NFT unique.
McDonald’ during the 40th anniversary of its McRib, released a limited edition of 10 McRib NFTs in the US. This is to commemorate the return of the special and limited collection of the McRib dish to the restaurant’s menu. The issuance of the limited McRib NFT features the McRib dish as a way of creating excitement about the product’s temporary return as well as limited availability. The 10 arts were only made available to those who retweeted the brand’s invitation.
Samsung has made use of NFTs for innovative solutions to be enjoyed by users. Samsung has created a TV screen-based NFT explorer and marketplace aggregator for people to browse, search, buy, and display NFTs right from their television. Furthermore, the aggregator allows the sharing of NTs among users around the world using their Television.
Playboy, a Men’s lifestyle and entertainment magazine has also hopped on the NFT bandwagon. Through its partnership with Nifty Gateway, playboy has launched NFT art collaborations with established digital artists. Popular among these collections is the “Liquid Summer” collection, which was created by Playboy and Slimesunday. The most iconic cover in the collection was sold for $250,000.
This is not an exhaustive list, more traditional companies are adopting NFTs through different methods either by partnering with a collection or launching their own collection. Some other traditional companies that have dipped their toes into the NFT space are Gucci and Tiffany & Co. These companies are leveraging the community, technology, and innovative use cases which NFT offers to drive business growth, deepen and expand community interactions and as well as drive sales. More companies will be joining the NFT market, and we’ll keep updating.
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