NFTs are one of the hottest trends, making headlines for months in a row now. The NFT market keeps expanding over various industries like gaming, sports, art, to name a few. It was a matter of time for the big brands to get on board and join the mainstream hype by creating their digital collectibles or acquiring popular NFTs.
NFTs can represent digital files, art, audio, video, and photos, which is one of the main reasons they are so important to brands. Brands may utilize NFTs to enhance their image, attract new consumers, interact differently with the existing ones, and create new sources of income.
The market is going to increasingly see brands, organizations, and businesses embrace NFTs over the coming months and years. It will start as a new way to connect with customers but eventually evolve entire industries.
Jesse Johnson, Founder and COO at Pixelcraft Studios for Cointelegraph
By releasing NFTs that their audience can collect, sell, and trade, brands can create more devoted followers. Collectors may experience a deeper connection with their favorite companies through ownership of special NFTs, which will lead to greater consumer loyalty. Purchasing a brand’s NFT could also be a way to invest in the company as NFT collectibles could be sold on secondary markets for profits in the future.
NFTs allow brands to control their digital assets and use new technology to promote innovation, retention of customers, and brand equity. Any brand that seeks to build brand loyalty, commitment, and long-lasting customer connections can employ NFTs.
We’ve put together a list of 27 famous brands that have embraced NFT and will further take a closer look at some of the names on the list.
Reebok has launched the “Reebok X NST2 Limited Edition” NFT collection with 200 NFTs based on its footwear. Reebok announced the project with a tweet on April 26 with the catchy slogan “blockchain meets streetwear.” The collection was dropped for sale on Wax AtomicHub. Upon release, the NFTs were selling between $500 and $2,000, some going as high as $20,000.
Beverage giant Coca-Cola entered the NFT market in a partnership with a Utah-based startup Tafi. The company releases an NFT digital collection that, among others, includes vintage Coca-Cola vending machines and versions of Coca-Cola’s 1940s trading cards. The items were available on OpenSea (an online marketplace for NFTs and other crypto-collectibles) from July 30 to August 2. The raised proceeds were donated to Special Olympics International, a longstanding partner of Coca-Cola.
Each NFT was created to celebrate elements that are core to the Coca-Cola brand, reinterpreted for a virtual world in new and exciting ways.
Taco Bell was one of the first brands to start offering NFTs. The company created a collection of 25 Taco Tokens, which were sold in 30 minutes. The NFTs were offered for sale for 0.001 ETH ($1.79), but some reached $200,000 on the resale market. Each Taco Token included a $500 Gift card to Taco Bell.
Not surprisingly, all companies on the list are operating on exact brand match .com names, a common practice among successful, global brands. Big companies often have a solid domain strategy inplace, as it is crucial to protecting their brand as well as driving revenue by making their marketing efforts more effective.