Billion dollar brands are flocking to Metaverse, NFT, and accepting crypto

Billion dollar brands are pouring into Metaverse by buying NFTs, buying ENS domains, and accepting cryptocurrencies.

Budweiser and Pepsi enter the NFT field

In August, at the height of “NFT summer”, Budweiser was one of the first names to get into crypto. Budweiser bought the “beer.eth” domain from Ethereum Name Service, a space rocket NFT, and uses both on his Twitter profile.

Budweiser followed this trend on November 30th when it announced its own series of NFTs with 1,900 digital collections. These tokens give holders access to “Budverse”, a platform that offers undisclosed benefits and rewards.

Budweiser isn’t the only beverage company entering the field. Pepsi announced the NFT collection “Pepsi Mic Drop” with 1,893 active NFTs on Ethereum.

Today the waiting list is up Website of the company opened so users can sign up for a wallet for an upcoming promotion on December 14th.

VaynerNFT, led by Gary Vaynerchuck, is helping Pepsi create these tokens. Vaynerchuck congratulated Pepsi on “embracing one of the most important technological changes in life,” adding that NFT “could forever change the culture of value creation.”

Nike and Adidas join the Metaverse

There are many examples from another sector that have joined the trend: sportswear like Adidas and Nike.

Adidas bought Bored Ape Yacht Club tokens for 46 ETH this month (now valued at $ 180,000), just as payment giant Visa bought NFT CryptoPunks in August.

In addition to this acquisition, Adidas is working with two other NFT market leaders: KOL gmoney.eth and the digital comic series PUNKS Comic. Details on these partnerships are yet to be announced.

Competitor Nike applied for several crypto-related patents for virtual goods in November; previously, the company had digitally patented CryptoKicks, physical shoes in connection with NFTs.

The company also developed Nikeland in the Roblox sandbox game, though that attempt doesn’t seem to take advantage of NFT.

Setback

The digital goods trend began in October when Mark Zuckerberg changed the name from Facebook to Meta with the aim of focusing on virtual reality rather than the social network.

NFT is especially noticeable at the beginning of the year when popular companies like Twitter, TikTok and Time Magazine shape their own NFTs and when large auction houses like Sotheby’s and Christie’s hold high-quality NFT auctions.

However, not everyone is happy that the brands are connecting with crypto. A good example that happened this week was Pepsi and Budweiser greeting each other Twitterwhich makes many people feel uncomfortable.

The social media managers of the two companies used crypto investor jargon like WAGMI (short for “We’re all gonna make it”) and called each other “fren” (friend). However, Solana derided Pepsi’s efforts to interact with cryptocurrencies as “seemingly catching them”.

Other companies have also encountered significantly more obstacles in a similar situation. Discord was forced to abandon its recent NFT plans after a backlash over the environmental cost of mining cryptocurrencies. Other companies with NFT plans such as Sega, Ubisoft and Artstation have also been heavily criticized. Even Kickstarter was convicted for this reason, despite opting for a carbon-free blockchain.

Despite this controversy, the widespread adoption of cryptocurrencies in the real world could lead some of the best-known global brands to enter the space more.

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