Budweiser Goes Strong on NFTs, Purchases Beer.eth Domain

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by Babafemi Adebajo · 2 min read
Budweiser Goes Strong on NFTs, Purchases Beer.eth Domain
Photo: Unsplash

OpenSea reports that Budweiser purchased the NFT for eight ETHs.

The world’s most valuable beer brand Budweiser has given strong indicators of its growing interest NFTs. The famous beer brand opted to use the picture of a rocket ship designed by Tom Sachs. This was done in the latest update to its profile on August 25. The company also posted a tweet with the Rocket logo.

According to the popular NFT marketplace, OpenSea, the rocket on Budweiser’s Twitter profile was created by the Tom Sachs Rocket Factory as one of its multiple creations. This factory is responsible for creating NFT content for multiple brands. They are estimated to have about 2,200 NFTs with a current floor price is 3.75ETH and a total trading volume of 8400ETH.

OpenSea reports that Budweiser purchased the NFT for eight ETH. There are also suggestions that the beer company has bought the NFT for Beer.eth domain name for about 30 ETH which is about $95,000 at current market value.

The purchase of these NFTs is not Budweiser’s parent company’s first foray into the world of NFTs. Anheuser-Busch InBev had recorded success with NFTs and its Stella Artois brand and it wasn’t going to be long before the company also tried to bring it into one of its most successful brands, Budweiser.

Just last month, Vice President, Global Brands had informed CoinDesk that Anheuser-Busch InBev, Budweiser’s parent company, was “planning a major ramp-up of its NFT crossover content.” He announced that the company had plans to invest in a new NFT media shop. This was going to be handled by Gary Vaynerchuk associated with VaynerNFT.

According to his statement, the NFT media shop was a long-term business interest of the company executives. It was also expected that it would feature everything from ticketing to actual NFT products. Oppy stated that the company believed that NFTs are a thing for the future, and would change people’s mentality about sponsorship projects in the future. The change in the Twitter profile picture suggests that the company is even taking more concrete steps in line with its vision.

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