NFTs (Non-Fungible Tokens) are currently one of the biggest trends in the industry and are poised to become a significant player in the trillion-dollar marketing industry by 2022. While some may view the growth of NFTs as just a passing fad, we believe they are here to stay and will continue to evolve in the years ahead. Many businesses have already recognized the immense potential behind NFTs and are anticipating more opportunities.
NFTs are still in their early stages, but they have the potential to reshape how brands engage with consumers. The pandemic has accelerated people’s interest in the digital space, and NFT collectibles have been gaining momentum. The success and insights gained by brands early on will only benefit them in the future.
Here is a brief overview of the 10 major brands that are embracing NFTs.
Lamborghini
Lamborghini has unveiled its first NFT in collaboration with Swedish artist Fabian Ofner. The NFT features a space-themed design with a Lamborghini car in the cosmos. The company aims to attract a younger audience to the NFT community and capitalize on the current NFT trend. Lamborghini is working closely with Fabian Oefner, NFT pro, and Sotheby’s.
Fabian Oefner designed a Lamborghini NFT called ‘Space-Time Memory’, which depicts a space-themed scene of a Lamborghini launching into space and breaking apart. The company has announced that it will auction five NFTs on its website, each with a duration of 75 hours and 50 minutes, symbolizing the exact time it took Apollo 11 to reach the Moon’s orbit.
NFTs serve as a digital fingerprint for media. These five carbon fiber squares with QR codes assigned by Lamborghini will be accompanied by a unique digital artwork. The specifics of the digital media linked to these Lamborghini NFTs are yet to be revealed. The luxury car brand is expected to disclose more details about the NFT soon, including the type of unique artwork and the artist behind it.
Adidas
In December 2021, sportswear giant Adidas announced that its upcoming collection would combine digital and physical goods sold as NFTs created in partnership with brands like Bored Ape Yacht Club. This marks Adidas’ first foray into NFTs.
Adidas views the launch as a way to engage with fans and be at the forefront of creativity. Adidas’ Chief Digital Officer, Scott Zalaznik, sees blockchain technology, which records the unique signature and ownership of NFTs, as a significant opportunity for brands. NFTs went on sale on December 17th, with digital and physical wearables for NFT owners set to be available in 2022.
Coca-Cola
Coca-Cola’s entry into the rapidly growing metaverse was well-received by fans and the crypto community, with the brand’s first NFT collectibles fetching a winning bid of $575,883.61 in an online auction. Auctioned as a single “loot box” through the OpenSea marketplace for 72 hours, the Friendship Day-themed NFTs put a virtual twist on iconic Coca-Cola merchandise.
The Friendship Box reimagines an old Coca-Cola cooler with dynamic motion and light and includes three other NFTs: a custom-designed Coca-Cola bubble jacket for use in the Decentraland 3D virtual reality platform, a sound visualizer representing the sound of enjoying a Coca-Cola, and a Coca-Cola friendship card featuring artwork from 1948.
The winning bidder will also receive a fully stocked Coca-Cola refrigerator in real life. All proceeds from the Coca-Cola NFT auction will go to Special Olympics International. The Coca-Cola Loot Box, now divided into separate NFTs for secondary sale, ranks among the top five NFTs ever sold on OpenSea.
Samsung
In early January 2022, Samsung announced its plans to expand support for NFTs, starting with the 2022 TV lineup. Samsung stated in a press release that “With the growing demand for NFTs, the need for an integrated viewing and purchasing experience has never been more critical.”
Samsung will introduce the world’s first TV screen-based NFT explorer and launch a marketplace aggregator, a revolutionary platform that allows users to browse, buy, and showcase their favorite art all in one place. The NFT platform is expected to be available as the new TVs begin shipping in 2022. Additionally, Samsung launched its ‘837X’ virtual world in the blockchain-powered Decentraland metaverse in January 2022.
McDonald’s
McDonald’s fast-food chain has entered the NFT space by releasing its first NFT collection of 10 limited-edition pieces. The collection celebrates the 40th anniversary of the McRib sandwich. The fast-food chain began offering NFTs to fans on Twitter starting November 1.
Ray-Ban
Ray-Ban has introduced the world’s first NFT eyewear, created in collaboration with German artist Oliver Latta, also known as Extraweg.
Ray-Ban’s iconic aviator glasses have been featured as an NFT, with the eyewear company auctioning the item through the NFT marketplace OpenSea. This marks Ray-Ban’s first virtual product and will immerse fans in the Metaverse. As the latest fashion brand to enter the NFT space, Ray-Ban is expected to release more NFTs in the future.
Gucci
Gucci, the luxury fashion brand, has entered the web3 space with the launch of a limited series of digital collectibles. Gucci collaborated with cult toy brand Superplastic and co-designed by Alessandro Michele, Gucci’s head of design, to create 10 NFTs set to be released on February 1.
Each NFT will come with a handmade ceramic sculpture from Italy co-designed by Gucci. Superplastic, known for creating artistic vinyl toys for the collectibles market and releasing NFTs, collaborated with Gucci on this project. Gucci has also announced plans to establish a channel for open dialogue with the community about future developments in the metaverse.
Formula 1
Formula 1 launched NFTs featuring car parts and drivers in an Ethereum-powered gaming initiative called “F1 Delta Time.”
The F1 NFT game was developed by Animoca Brands, a company that has partnered with several brands to launch NFTs. The sale of the first F1 NFT share in December fetched around $223,000, making it one of the most expensive NFTs at the time. The demand for NFTs has since surged, surpassing previous records.
Reddit is reportedly planning to introduce a feature that will allow users to display their NFTs as profile pictures. This feature is similar to the one Twitter rolled out earlier. Details about Reddit’s NFT profile picture feature are yet to be confirmed.
Last year, Reddit introduced CryptoSnoos NFTs, limited-run NFTs built on Ethereum. Reddit users will soon be able to use CryptoSnoos and other NFTs as profile pictures on the platform.
NBA
The NBA, while not directly entering the NFT space, operates NBA Top Shot, one of the most popular NFT marketplaces in the sports sector. NBA Top Shot sells top basketball moments and has experienced tremendous growth, with moments featuring iconic players like LeBron James selling for high prices.
While it remains uncertain whether the NBA will launch its own NFT or NFT marketplace, NBA Top Shot continues to lead the way in NFT innovation within the sports industry.
Bottom Line
Each of these brands is bringing something unique to the table with their NFT launches. NFTs not only enable these companies to better connect with their fan base but also attract new investments. Some brands are using a portion of these funds for social responsibility initiatives, giving them a competitive edge. Embracing NFTs is a way for these brands to stay relevant in the digital landscape and attract a new audience.
