- Budweiser is the most recent significant corporation to enter the NFT and cryptocurrency markets.
- A Bud-themed space rocket NFT and the domain name ‘beer.eth’ were purchased by the beer maker.
- As digital assets become more widespread, more companies are capitalising on the excitement around NFTs.
Budweiser purchased the domain name beer and a non-fungible token (NFT) resembling a space rocket embossed with its emblem to use as its Twitter image. The beer producer acknowledged to Insider this week that it is eth.
The cryptocurrency world took notice of the Anheuser-Busch subsidiary on Wednesday after it posted a Bud-themed rocket as part of artist Tom Sachs’ Rocket Factory NFT project.
It also sent out three space-rocket emojis, which are frequently used by meme-stock purchasers and crypto enthusiasts to indicate that an asset is ‘going to the moon.’
Here’s the view of the new profile picture “the rocket” nft purchased by Budwieser.
Budwieser also posted a tweet showing three rockets in a row to indicate the new nft.
The Rocket Factory initiative, which began earlier this year, allows individuals to buy sections of an NFT rocket, which they may later assemble in the real world if all of the parts are assembled.
The physical rockets are then constructed and launched, with the first flights scheduled for August 28th, according to the project’s Medium page. According to NFT platform OpenSea, Budweiser spent 8 ether tokens (worth $25,000 at the time of writing) for the rocket.
According to records, the beer maker also paid 30 ether (worth $94,000 at the time of writing) for the domain name ‘beer.eth,’ under which the rocket and other NFTs are held on crypto platforms.
Budweiser is the latest major corporation to enter the NFT and cryptocurrency arena, joining Coca-Cola and Marvel in developing and selling digital assets to consumers.
According to data from nonfungible.com, the popularity of NFTs has soared throughout 2021, and the market shows no signs of slowing down.
Nearly $1 billion has been spent on NFTs across nearly 300,000 sales in the last 30 days. Experts think there is still a long way to go before the tokens become mainstream, and that improvements in terms of pricing and accessibility will be necessary.
Talking about NFTs, the market has seen a huge surge since the starting of 2021 and captured almost every sections from art to gaming to real estate.
CEO of India’s biggest crypto exchange WazirX, Nischal Shetty posted a tweet regarding generation wise asset acquisition where in 2021 it’s NFTs.
He also re-tweeted a post addressing metaverse.
WHAT ARE NFTs?
NFTs are digital assets linked to blockchain networks, such as artwork, audio samples, virtual sports cards, or even tweets. As a result, each NFT is one-of-a-kind and nearly hard to change or recreate, which makes them popular among artists. Although anybody with access to the internet can examine NFTs, there is only one validated owner of the token on the blockchain.
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