While Coca-Cola auctions its first NFT, no more brands enter the metavese

Coca-Cola operates its collection story with a first NFT while marketing specialists continue to experience the intersection of cryptocurrency and culture.

The Atlanta -based drinks giant sells a series of four NFTs – known as non -bubble tokens – which will be sold as a single asset with the product benefiting the special international Olympics. NFTs are digital assets supported by blockchain technology and have experienced rapid adoption this year by artists and cryptocurrency lovers. The interest in the sector has encouraged companies ranging from pringles to the superplastic entertainment brand to create NFT in the hope of drawing from the cryptocurrency zeitgeist.

For its beginnings on digital active ingredients, Coca -Cola has teamed up with Tafi – a startup based at UTAH which manufactures avatars and other virtual content – to resuscitate a pixelated version of the classic automatic distributor of Coke 1956. However , instead of soda cans inside, the “friendship box” is supposed to be like a “loot box” in video games. The own LOT Box NFT based in Ethereum de Coca-Cola includes a portable metal red bubble jacket which is inspired by the old company delivery uniforms, but that illuminates the farting. The series also includes digital versions of trading cards from the 1940s of Coca-Cola and a “audible viewer” which has conventional coke sounds such as a bottle opening and a drink paid on the ice. The Coca-Cola auction will start the auctions on July 30 and will take place until August 2 on Opensea, online Marketplace for NFTS and other Crypto collectibles.

“It really gave us the opportunity to explore the robust space that the digital space gives you. This really cool convergence of form, function and aesthetics, “said Joshua Schwarber, principal director of Global Digital Design At Coca-Cola. “Thus, the ability to do things in motion and come to life or be able to reinvent our assets in a new and unique way to create these multisensory opportunities.”

Coca-Cola has long history of creation and sale of collectibles in the real world. On the business websiteA Norman Rockwell set in limited edition of four Coca-Cola prints is at a price of $ 400 while a vintage German trumping plastic cooler can be purchased for $ 550. There is also a bottle of Steuben Crystal 125th Anniversary for $ 275, a 1970 Chevrolet carrier set for $ 34.95 and a “first year collector’s book” for $ 25.

“We were struck by the fact that the Coca-Cola brand has generated the collection and love over three centuries,” said Tafi president Matt Wilburn. “We are the 1800s, 1900, and now we are looking at how to create an NFT that reflects this brand’s love in such a period. You literally create an NFT which is completely appropriate that it is timeless-it does not exist in the real world today, but if you are impatiently waiting for the next century, what is it like?

According to Oana Vlad, principal director of the global strategy of the Coca-Cola brands division, the NFT space changes so quickly that the work of the company had to evolve “almost daily-perhaps more quickly than on another project”.

While culture evolves towards the digital worlds, the head of the exploitation of Tafi, Ty Duperron, thinks that people do not want the same kind of clothes that they can already get in real life. The company was already working on the Coca-Cola physical product team on other digital portable devices for Coca-Cola for other brands and platforms. And although they had planned to make a variety of laptops for the NFT, he said that they had decided on something “more significant than a simple piece of fashion”.

“We really wanted this beautiful play of show and it evolved in this laptop which reveals another which generates its own petile and has its own liquid inside,” said Duperron. “You did not have reference points because the things did not exist, so we could not simply execute the particle system and call it Fizz. There are clear moments and clear ways that Fizz must react. »»

Coca-Cola is only one of the many notable brands experimenting with NFT this year. On Wednesday, Campbell’s worked with the artist Sophia Chang and the NTWRK Shoppable video application to create an NFT collection that celebrates the newly designed label of the Soup company. And while Taco Bell was among the first to jump on the NFT Wagon when he published a series of Taco NFTS “Limited Edition”, even luxury brands like Dolce & Gabbana have published their own haute couture collections also recently that this month.

Interest also prompted marketing agencies to create NFT divisions. Earlier this month, Vaynernft – A new agency created in VaynerMedia – launched Anheuser -Busch Inbev as a NFT record for beer giant. (Stella Artois sold at auction several NFT earlier this summer even before her parent company begins to work with Vayner.)

The challenges are high for brand NFTs because people are more likely to buy one in a celebrity than a company, explains Gary Vaynerchuck – the co -founder and CEO of VaynerMedia known for its rapid adoption of digital platforms. This means that companies will have to compete on merit by having the right active ingredients and the right “cultural character”. And although it is optimistic about NFTS overall, Vaynerchuck predicts that most brand projects could be “a disaster” without the right approach.

“I know the brands, and they will compromise on something good for the consumer but not good for them,” he said. “And they are going to come from a place of selfishness -” I want that “,” I want it “to hurt them.

The united fans communities of crypto lovers and artists create a high bar for marketing specialists who want to play in space. Boye Fajinmi, co-founder and president of the future party, says that companies must “ensure that this cultural co-signs in space” to achieve it. (The future party worked on an NFT for Dole in collaboration with the artist David Datuna – who, in 2019, ate a banana work during Art Basel Miami.)

Fajinmi said that some brands seem more focused on creating an NFT than on connection with the right audience, adding that NFT should be taken seriously rather than freeing in jokes. For example, Charmin, belonging to P&G, sold an NFT on the theme of toilet paper.

“There is a really, really strong NFT community,” explains Fajinmi. “And I think most of the general population will cool, but I think the community will continue to drive media threw. And it will be a world where NFTs are just something that everyone does, like “Oh, we owe the NFT.” “”