NFT Metaverse: How do Coca-Cola, Adidas, and GAP play?

Practicality has become the first test for big brands in the Metaverse field through NFT.

This article is from the WeChat public account “Retail Wei Watch” (ID: onRetailing), author: Retail Wei Watch 

2021 is a big year for the blockchain. The unit price of Bitcoin (BTC) will reach a maximum of $69,000, and Ethereum (ETH) will reach $4,867.81. What is more noteworthy is that non-fungible tokens (Non- Fungible Token (hereinafter referred to as NFT) is also developing rapidly. 

If at the beginning of 2021, NFT mainly engaged in the community through Discord, and then sold avatar pictures, then in the second half of 2021, many well-known brands also began to try NFT, corresponding to real objects, and even design their own Metaverse ). 

Obviously, utility has become the first test for big brands in the Metaverse field through NFT. 

Generally speaking, the practicality can be roughly understood as if a user purchases a concert NFT, then he can not only participate in the corresponding offline concert, become a special member, but even participate in the exclusive activities of the singer/performer in advance, product sale. 

From the current practice, Redeemability is the most mainstream utility of NFT. 

When a user holds a “convertible NFT”, it means that he can obtain the corresponding physical item, and the NFT becomes the connection certificate between the two parallel universes online and offline. 

Let’s take a look at how well-known foreign brands test the waters of the “Metaverse” era through NFT. 

one 

Adidas: Deepest NFT in the Metaverse? 

At the end of 2021, the sports brand Adidas began to try to enter the Metaverse. To this end, Adidas sold a total of 30,000 original NFTs, which were directly sold out within a few minutes after the release. 

Holders of these Adidas NFTs can open exclusive experiences in the Sandbox Metaverse, and can also exchange them for unique corresponding physical products. 

In addition, throughout 2022, these NFT holders have the opportunity to receive 4 exclusive physical products at no additional cost: when they choose to redeem the physical product, the NFT will be burned (burn), and then receive a new higher numbered product. NFT (such NFTs generally have a lower number and higher value). 

This kind of physical NFT is a good attempt for Adidas. After all, consumers are accustomed to queuing up a few days in advance in order to obtain limited edition sneakers and clothing as soon as possible. NFT essentially provides brands with a new way to launch limited-edition products, and the resulting community and word-of-mouth communication will expand to a wider range, which is equivalent to free communication and hot searches. 

two 

Coca-Cola: NFT of core elements 

In August 2021, the NFT collectible “Coca-Cola Friendship Box” jointly launched by Coca-Cola and 3D virtual avatar application platform Tafi was auctioned on the OpenSea platform, and the auction price was about 540,000 US dollars.Coca-Cola donated the funds to the Tokyo Paralympic Games. 

The “Friendship Box” includes a classic Coca-Cola cooler, a wearable jacket that can be used in the virtual reality world Decentraland, a friendship card, and a sound visual device that plays the sound of bottles being opened, drinks being poured over ice , and the bubbly sound commonly found in carbonated beverages. 

Coca-Cola said, “Each NFT in the Friendship Box commemorates core elements of the Coca-Cola brand. And reinterprets these elements in a new and exciting way in the virtual world.” 

Four months later, in December, Coca-Cola released the Christmas Snowball NFT in the form of a blind box through the VeVe platform. 

This collection of digital collectible snow globes features falling snow, the iconic Coca-Cola polar bear, and more, all priced at $29. 

Among them, there are 13,888 Polar Bear-themed NFTs, 10,888 4 Coke Bottles-themed NFTs, 7,888 rare Neon Coca-Cola Sign NFTs, and Coke bottles. There are 1,886 NFTs on the Bottle theme. 

three 

GAP: Limited to 100 pieces! 

In mid-January 2022, retail giant GAP also launched its first NFT, an NFT that unlocks the art of physical hoodies. 

The painting behind this NFT is a collaboration between GAP and artist Brandon Sines (who is the designer of Frank Ape), and this digital collection of NFTs is hosted on the Tezos blockchain for a “first come, first served” basis. way to obtain. 

In terms of physical objects, starting from the most iconic hoodie of the Gap brand, the NFTs released by GAP are divided into four grades: common, rare, epic and unique. The total circulation is only 100 sets, which is also the most limited edition of clothing in the history of GAP. 

The regular version is initially priced at 2 tez (XTZ), or about $8.30; other versions will be available in the next two weeks for 6 tez ($25) and 100 tez ($415). 

wantonly 

RTFKT: Metaverse Nike, Marketing Ceiling 

RTFKT can be described as the “Nike of the Metaverse”, which is a sneaker collection brand created by RTFKT for the Metaverse. 

In February 2020, a photo of Elon Musk wearing “CyberTruck” style sneakers to attend an event went viral on the Internet, and many people were amazed by this pair of sci-fi style sneakers. 

In fact, this pair of “sneakers” named “Cybersneaker” is not a real pair of sneakers, but was synthesized on Musk’s feet by the RTFKT team through PS. 

RTFKT auctioned this pair of NFT shoes on the NFT trading platform at a price of 30 ETH (the current price is about $3,000/piece). When the bidders realized that this pair of shoes was an NFT, the bidding once reached 65 ETH! 

In addition to this kind of crazy art marketing, RTFKT also makes each placement a unique experience: 

For example, the sneakers launched by RTFKT in partnership with FEWOCiOUS give collectors the opportunity to acquire physical shoes. Each “open version” of NFT has a pair of corresponding physical sneakers, and NFT holders who own NFT within 6 weeks after launch are eligible to redeem physical sneakers. 

In December 2021, one of the NFTs was already traded at 17.4 ETH. 

In December 2021, RTFKT was acquired by Nike, which also marked the beginning of Nike’s own “selling fake shoes”. 

Wu 

Damien Hirst: To live or to perish, that is the question! 

Damien Hirst is not a brand, but a well-known artist. 

In February 2022, he launched a physical NFT called “The Empresses”. Here, each NFT represents ownership of a physical print – this doesn’t seem new, but it’s interesting that NFT holders have 3 years to decide the future of this NFT: 

The first option is to exchange for physical items, then the NFT will be destroyed; 

The second option is to keep the NFT, but the physical item is destroyed; 

The third option is to trade NFTs and let the next holder choose. 

In fact, this is not Hearst’s first NFT. His first NFT is called “The Currency”. This NFT has a total of 10,000 pieces, and the holder has one year to decide the fate of the NFT held: Keep NFTs or redeem physical prints. 

On July 14, 2021, the “Currency” project went on sale, and it sold out within minutes. As of now, there have been 1,571 total sales of this set of NFTs on the secondary market, while only 522 NFTs have been exchanged for physical objects since the start of the exchange period (February 12, 2022). 

To live or to perish, that is the question, this NFT is a great attempt by traditional artists. 

land 

Patrón Tequila: Maybe some advice for Moutai? 

Patrón is a premium tequila brand owned by Bacardi. 

In January 2022, Patrón launched its first NFT in partnership with BlockBar. Each NFT corresponds to a rare and exclusive Chairman’s Reserve physical wine – only 150 bottles in total, and each corresponding NFT sells for 1.5 ETH (equivalent to about $4,500). 

Here, NFT, as a proof of authenticity, verifies the NFT holder’s ownership of the corresponding tequila, and has the right to redeem the corresponding tequila at any time. Of course, NFT holders can also choose to safely trade their NFT versions within the Blockbar marketplace. 

As for the physical tequila, BlockBar stores it in an undisclosed location in Singapore with 24/7 security, outside motion detection and temperature control, doesn’t that sound cool? 

Think about it, is this something similar to the annual “Mid-Autumn Mooncake Voucher” and “Yangcheng Lake Hairy Crab Exchange Voucher”? Perhaps, Moutai can also refer to this logic, and owning an NFT means owning a bottle of Moutai with the corresponding code (or year). 

Oh? Maybe Moutai is too traditional, but new-style liquor, fruit wine, and low-alcohol beverages targeting young people (Gen Z) can be marketed in this way and become the most technologically-rich liquor brand. 

Seven 

Papa John’s: Buy pizza and get NFT free! 

Papa John’s, one of the world’s largest pizza chains, has launched its first NFT, consisting of 19,840 NFTs hot bags – 19,840 NFTs were chosen because Papa John’s was founded in 1984.

These thermal insulation bags will include nine different designs, and the requirements for obtaining them are also very simple: users only need to place an order for Papa John’s goods, then scan the QR code to get NFT, and finally can exchange the following 9 thermal insulation according to their preferences. One of the thermal bags.

This NFT was designed by two artists, Tom Hoff and Ash Sketch, and minted on the Tezos blockchain.

In fact, it’s not the first time Papa John’s has done marketing with the help of blockchain: Papa John’s previously ran a promotion in the UK that offered customers £10 worth of free bitcoins when they spent £30 or more. As a result, the UK Advertising Standards Authority banned advertising for the promotion, claiming it encouraged consumers to make high-risk investments.

As for why Papa John’s likes cryptocurrencies so much, it’s mainly “Bitcoin Pizza Day” that year: On May 22, 2010, a developer named Laszlo Hanyecz exchanged 10,000 bitcoins For 2 Papa John’s pizzas, Hanyecz paid $690 million for these two pizzas at today’s maximum price of $69,000 in Bitcoin…

If the Metaverse is still difficult to realize at present, then the technologies related to the Metaverse—VR, AR, blockchain, etc. can be used first to become the link between enterprises, brands and consumers/users. In the future, it is completely possible to have a deeper connection with the enterprise’s membership system and user community.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/nft-metaverse-how-do-coca-cola-adidas-and-gap-play/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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