If you are looking for unique digital copies of Budweiser beer cans, you have to pay. On November 30th, the Anheuser-Busch InBev brand started its first sale of non-fungible tokens (NFT). The Heritage Collection, with 1,936 unique Budweiser designs for digital beer cans. These unique, generative art NFTs showcase iconic cans from the brewery’s rich history.
It took less than an hour for that Heritage Collection sold out and 20% of the purchases have already been turned over at a profit. You can still attach copies Open sea, the world’s largest NFT marketplace, but the cheapest resales are over $ 2,200 and rare cans are over $ 20,000.
NFTs, or “non-fungible tokens,” enable users to buy and sell unique digital items that are tracked through blockchain. Budweiser has adopted Web3 protocols (a decentralized platform based on blockchain technology) to provide a unique signature to legitimize NFT purchases. NFTs can include any digital item – clothing, animated GIFs, or, as in this case, exclusive photos. This is the culmination of Budweiser’s efforts to go fully digital by the end of August.
“The Budweiser Heritage Collection was designed to celebrate the brand’s iconic history while also bringing Budweiser into the metaverse, “said Spencer Gordon, Anheuser-Busch Vice President for Digital and Draftline, the brand’s in-house creative agency, in a statement. “The introduction of this NFT collection is another example of our innovative and consumer-centric approach to further strengthening our cult brands.”
On August 25th, Budweiser bought the ‘beer.eth’ domain to establish its NFT platform for 30 Ethereum – approximately $ 95,000. During November sales that @budweiserUSA The Twitter account exchanged memes with crypto influencers and discussed releases with a new Discord community and promised the owners of its NFTs that each “will act as a key to the Budverse and unlock exclusive benefits, rewards and surprises”.
36 of the non-fungible beer cans contain gold versions of the most iconic heritage cans of the classic American brewery. Each Gold NFT offers all of the core NFT benefits in addition to “hyper-exclusive, Gold-only access levels – your VIP ticket to the best experiences in Budverse and beyond”.
Budweiser is the next in a growing line of large corporations to move early in this potentially massive technological paradigm shift with Web3. That includes Nike, which just launched Nikeland on Roblox this month and acquired leading NFT and digital collector’s brand, RTFKT. In order not to be outdone by the competition, Adidas started trendy collaborations with Pixel Vaults Punks Comic and Bored Ape Yacht Club. Chipotle markets products in the Metaverse and Facebook has renamed itself to Meta.
This is a very different reaction than it did in the early 2000s, when large firms lost significant ground to newcomers on their first hesitant forays into the electronics world. If traditional brands like Budweiser are to survive and thrive in this emerging market, they seem to realize that they need to be on the next innovative wave of the internet.
Read more: Nike continues to delve into the metaverse with Virtual Shoe Company