Budweiser has become the latest brand to become part of the NFT metaverse after registering the domain name Beer.eth and purchasing a unique NFT from the Tom Sachs Rocket Factory collection.
The beer company also changed its profile picture to the rocket – dubbed “Life of the Party” – a move that has now become synonymous in the crypto space with brands and users prominently displaying their NFTs.
The tweet was met with enthusiasm from users on Twitter, and when asked to reveal more about its NFT Budweiser replied: “It’s time to blast off”.
— Budweiser (@budweiserusa) August 24, 2021
From the data available from the ENS domain registry, the Beer.eth domain name was registered on August 21 2017 and looks to have been purchased by Budweiser on August 11 2021, according to the OpenSea listing.
The listings show that the domain name was bought for 30 ETH (96k) and the NFT was purchased for 8 ETH ($25k).
Although the domain name registry hasn’t been confirmed by Budweiser, the OpenSea wallet containing it also holds the rocket NFT which Budweiser now sports as its profile picture.
The domain name beyondbeer.eth was also registered, which is the slogan for the range of products produced by Budweiser manufacturer Anheuser-busch.
The Tom Sachs Rocket Factory collection is an NFT project where users can buy components to “construct” their own unique rocket. The components are bought on their OpenSea marketplace, which consists of a cone, body and tail. Once constructed, the components used are burned and the completed rocket NFT is minted. Only 1,000 rockets can ever be assembled.
Partnering with VaynerNFT
Budweiser has shown previous interest in the NFT space following a July partnership with VaynerNFT – a platform founded by NFT enthusiast Gary Vaynerchuk.
The partnership saw Budweiser invest in the platform and become VaynerNFT’s first client. The move is dedicated to “extending the Budweiser community into the Metaverse” and maximising the possibilities available through NFTs, which opens the door for ticketing, merchandise and sponsorship deals.
Richard Oppy, Head of Global Brands at AB InBev, believes that the partnership should help build the Budweiser brand even further.
“We believe this work will also pave the way for more innovative programs across all of our global brands,” he said.
“Our partnership with VaynerNFT, which has been built on nearly a decade of creative collaboration between AB InBev and VaynerX, is designed for long-term brand building around successful NFT programs.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.