Which brands have created their own NFT and why?
NFT fever has spread like wildfire around the world. For the uninitiated, NFTs are a type of digital asset that use the blockchain to record ownership of assets. And this explosion of NFT fever is not just limited to world-famous celebrities, but even global brands are taking a huge liking to it.
Want to know more? Here's a list of the top brands that have caught NFT fever for good.
1- State Farm
State Farm, the insurance company, launched a virtual treasure hunt as part of its move to NFTs. However, this experiment went beyond simply selling a few NFTs online. Instead, the company encouraged participants to use their phones, a la AR Pokemon Go, to find footballs in the real world.
2- Coca-Cola
Coca-Cola recently joined the NFT industry, a decision that involved making its collection of digital collectibles available to re-imagine some of Coca-Cola's iconic assets for the metaverse, with each NFT inspired by shared moments of friendship."
3- Nike
Nike has begun using NFTs to certify the veracity of a pair of trainers. Purchasing a pair of the brand's shoes will now download a digital version of the product into your "virtual locker" as part of an initiative they have named Cryptokick. So incorporating a digital seal of authenticity into the physical counterpart of a token takes this to the next level.
4- L'Oréal
Make-up and skincare company L'Oréal has partnered with United Talent Agency to launch its own NFT collection, focused on initiatives that empower women. The move is part of the marketing campaign for their new lipstick collection 'Reds of Worth'. The NFT collection includes five different works inspired by the colour red and designed by a female artist. 50 % of the transaction value of secondary market sales will go to the Women of Worth charity.
5- Glenfiddich
Glenfiddich, every grandfather's favourite whisky brand, has partnered with BlockBar, an NFT marketplace for luxury wines and spirits, to launch its new collection. Each of the 15 limited edition NFTs of alcohol corresponds to a physical bottle of Single Malt Whisky. Like Robert Mondavi Winery, Glenfiddich hopes that NFTs will enable authentication and reduce adulteration, essentially allowing them to maintain an authentic and trustworthy brand image undiluted by counterfeits.
6- Under Armour
Under Armour has used its leap into the NFT space to honour Stephen Curry's 3-point record, marking his achievement by releasing an NFT of the sneaker he wore when he made the most 3-pointers in sports history. Once purchased, the sneaker will be available digitally for the buyer's avatar on a number of metaverse platforms, including Decentraland, Gala Games and The Sandbox.