In 2021, NFTs exploded into the mainstream as celebrities and big brands began to take interest in digital assets. In fact, we have seen a number of the world’s most powerful brands begin to dip their toes in the NFT universe. The question is, which of these brand’s NFT projects should you know about? Here’s a look at five top brand related NFTs that are now available.
1). McDonalds McDonalds is the best known fast food brand in the world. So it should be no surprise that they are diving head first into the NFT world. The brand’s first forway into the NFT world was a tie in to their seasonal McRib sandwich offering. The fast food restaurant company offered a limited number of NFTs known as McNFTs. This was a very limited run of just 10 NFTs for the entire promotion so this was not designed to be a moneymaker. Instead, this promotion was designed to generate social media engagement. The promotion gave away the 10 NFTs to random selected people who had retweeted the brand’s invitation. In a short time, McDonald’s Twitter account received over 92,000 retweets.
Thoughts A huge brand like McDonalds does not need to “make money.” However, even big brands have a hard time getting attention on social media sites. Using just a handful of NFTs to generate almost 100,000 retweets is a smart move. The promotion on Twitter costs nothing and creating 10 NFTs costs the company very little. It would not be surprising to see more McDonalds NFT giveaways in the future.
Coca-Cola's first series of NFTs includes this digital bubble jacket. Source: COCA-COLA
2). Coca Cola Coca-Cola has one of the most powerful brands on the planet. No matter where you go, you will be able to find people who can identify the brand’s iconic coke bottle shape. Therefore, we all knew that the number one beverage company would come out with its own NFT project. The brand’s NFT promotion was released during International Friendship Day on June 30. The brand released four animated NFTs. Each NFT unlocked surprise digital items for the first owner of these NFTs. For example, one of the items unlocked was a Coca-Cola bubble jacket that can be worn on the metaverse platform Decentraland. Overall, the four NFTs generated over $575,000 in revenue which went to Special Olympics International. Thoughts Coca-Cola’s brands have always been about sharing and smiles. So it is no surprise that the company decided to donate the proceeds from their four NFT auctions. The brand gained benefits from the publicity of the auction while also staying relevant in a world that is changing under the brand’s feet. In the future, one can expect more Coca-Cola NFT drops with partnerships in the metaverse.
3). Taco Bell Everyone’s favorite late night munchie fast food brand is also moving big in the NFT world. Taco Bell has one of the youngest demographics of any fast food brand. Therefore it makes sense that they would move in early with their own NFT offerings. The company launched 25 NFT Gifs on the marketplace Rariable. Each NFT came with a $550 Taco Bell electronic gift card. The result of the NFT auction? The auction sold out in less than 30 minutes with each NFT going for thousands of dollars a piece with proceeds going to the Live Mas Scholarship. Thoughts Out of all the fast food brands out there, Taco Bell potentially has the most to gain from an aggressive move into the NFT space. That’s because of their young demographic edge and the
company’s ability to have some more fun than other brands. We’ll see if Taco Bell comes out with anything NFT drop soon.
Ever-Crunching Tacos. Source: Taco Bell
4). Gucci It’s not just everyday brands that are getting into the NFT space. Luxury brand Gucci also made its NFT debut in 2021. The brand released their NFT during fashion week. However, the auction did not take place on a digital marketplace like the other brands. Instead, the Gucci NFTs were auctioned at Christies. With only one NFT available, bidding on the digital asset was rather intense with the winning bidder securing the single NFT for $25,000. The proceeds from the auction went to UNICEF USA. Thoughts It is quite surprising that luxury brands are getting into the NFT game. However, there could be some opportunities for these top brands to generate some more publicity at a lower cost. The idea of a single NFT auction is intriguing and it will be interesting to see if Gucci will repeat the idea in the future.
5). Adidas/Prada Finally, one of the biggest brand NFT launches came from a brand collaboration between Adidas and Prada. Known as the Re-Source project, this is by far the most ambitious brand NFT launch in 2021. These NFTs were created by user generated content of 3,000 pieces of digital artwork. These pieces were then pieced together into a single artwork and auctioned as an NFT. The auction was conducted by SuperRare with proceeds going to a non-profit known as the Slow Factory. Thoughts The user generated angle makes the Adidas/ Prada project one of the most unique and creative of the past 12 months. It will not be surprising to see Adias and Prada work together on future NFT projects. Both brands have power cache in the youth market and any future NFT auctions are sure to generate lots of attention.
Photo: adidas x Prada Re-Nylon Collection
More Brands to Come to the NFT World 2021 was a breakthrough year for brands and NFTs. We are sure to see more brands come into the fray in 2022. Also, it would not be surprising to see these five big brands come back with more NFT projects. The only question is whether the demand and the publicity will be there. As NFT values continue to hit new highs, it is almost a sure thing that these brand NFTs will boom again in 2022.
REFERENCES: https://businesschief.com/digital-strategy/top-10-nft-marketing-initiatives-leading-brands-2021 https://news.adidas.com/originals/adidas-originals-and-prada-announce-a-first-of-its-kind-open- metaverse---user-generated-nft-project/s/30a29dad-6ded-4302-ae40-f9f2338e7298