Budweiser buys beer-themed Ethereum domain, joins NFT world
Budweiser buys beer-themed Ethereum domain, joins NFT world By Hannah Perez

The giant beer brand changed its Twitter image to a rocket NFT that carries Budweiser’s image. In addition, it also bought two Ethereum domains.

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One of the most popular beer brands around the world is diving into the non fungible token (NFT) craze

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The renowned Budweiser beer changed its profile image on its official Twitter account in the US on Wednesday to that of a rocket designed by NFT artist Tom Sachs. The profile image now features the “Life of the Party” piece, which shows a rocket with the brand’s theme and belongs to the ‘Tom Sachs Rocket Factory

‘ collection. Budweiser buys beer-themed Ethereum domain, joins NFT worldBudweiser buys beer-themed Ethereum domain, joins NFT worldNFT ‘Life ofthe Party’ – image taken from OpenSea

The rebranding suggests that Budweiser has made its first investment in the NFT marketplace to the tune of 8 ETH or USD $25,600, according to OpenSea data. A spokesperson for Anheuser-Busch InBev, the beer company in charge of producing the brand, also confirmed to media outlet CoinDesk

about the move.

Budweiser is taking its first steps into the NFT universe. We are excited to support Tom Sachs and his Rocket Factory project and join this amazing community.

Budweiser buys NFTs and Ethereum domains

The public information about the token purchase suggests that this isn’t Budweiser’

s first foray into the NFT space. The same management that owns the rocket also holds 13 other digital collectibles, though none related to the beer theme.

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More interestingly, the brand has its own Ethereum domains whose names reference beer. According to data from the NFT OpenSea marketplace, the same address that owns the rocket had also bought the beer.

recently purchased the ENS domain “beer.eth” for 30 ETH, or almost $100,000, and the domain “beyondbeer.eth“.

ENS stands for Ethereum Name Service, an app allows anyone to register a custom website or wallet name on the network Ethereum. Similar to how domain names can be bought and sold on the Internet, ENS domains can also be traded as NFTs.

While Budweiser did not officially announce the purchase of NFT, the official Twitter account posted three rocket emojis shortly after news of the company’s investment spread. The Tom Sachs Rocket Factory account also celebrated and welcomed the beer to the crypto art space.

According to CoinDesk, news of Budweiser’ s purchase of NFT comes shortly after the company first made its interest in collectibles known. In an interview last month, Richard Oppy, vice president of global brands at Anheuser-Busch InBev, previewed that the brand is investing in a new NFT media store.

Oppy described the initiative as a “long-term business play” and added that it was an opportunity for the brand to “go big.”

We don’t think this is just a fad. We think this is going to change the way people think about their sponsorship properties in the future.

NFTs are proving to be a success for brands.

This isn’t the first time the company behind the world’s most valuable beer brand – at USD $14 billion by 2020 – has made a move into the crypto industry. In 2019, Anheuser-Busch InBev made an investment in blockchain startup BanQu.

More recently, the company has already been testing the success of NFTs through its other beer brand Stella Artois. According to CoinDesk, in recent months, that brand has led several NFT charity auctions and has signed on to some notable projects, including a digital horse racing NFT auction through Ethereum-based horse racing platform ZED RUN.

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The news about Budweiser’ s investment in NFT comes the same week that the financial services giant <a href=”https://www.diariobitcoin.com/tecnologia/tokens/nft/visa-compra-su-primer-nft-por-usd-150-000-el-cryptopunk-7610/” target=”_blank” rel=”noopener”>Visaannounced that it had bought a CryptoPunk for USD $150,000. Facebook also announced Wednesday that it is looking at digital collectibles for possible integration into its Novi wallet.

These are just a few of the latest big-name companies to make inroads into the growing NFT market. This year, these digital assets have shown to be quite a lucrative business. OpenSea, one of the most popular NFT trading platforms, is approaching a record $2 billion in trading volume over the last 30 days.

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Sources: CoinDesk, CoinDesk, Twitter, OpenSea, archive

Version by Hannah Estefania Perez / DiarioBitcoin

Image by Unsplash