NFTs (Non-Fungible Tokens) are one of the largest trends in the industry right now and are set to become an important performer in the trillion-dollar marketing industry by 2022. While some assume that the growth of NFTs is just the recent shiny new thing, we are confident that they are here to keep up and will develop more in the years to come. Many businesses have already recognized the large potential behind NFTs and can predict more opportunities.
NFTs are still in their beginning, but they have huge possibilities to reshape the way brands interact with consumers. The pandemic has advanced people’s interest in the digital space and NFT collectibles have been jumping all over. The success and information from brands getting in earlier will only help them in the future.
Here is a quick rundown of the 10 biggest brands that are jumping on NFTs.
Lamborghini has announced its first NFT in collaboration with Swedish artist Fabian Ofner. The NFT brings out a space-themed design with a Lamborghini car in the atmosphere. The company aims to attract youth to the NFT community and capitalize on the current NFT trend. The automobile company said it is working closely with Fabian Oefner with NFT pro and Sotheby's.
Fabian Oefner designed a Lamborghini NFT called 'Space-Time Memory'. The image is centered around a space theme and shows a Lamborghini being launched from earth into space, while the car is breaking into pieces. In addition, the company announced that it will be auctioning five NFTs on its website. The duration of each auction is 75 hours and 50 minutes, which is the 'exact time for Apollo 11 to leave earth and enter the orbit of the Moon'.
NFTs are fingerprint recognition for digital media. These five carbon fiber squares with QR codes assigned by Lamborghini will be joined by a special digital artwork. However, the nature of the digital media related to these Lamborghini NFTs is not yet known. The luxury high-performance car brand is required to reveal more details about the NFT soon, including what kind of unique art is going on and the artist's name behind it. Its parts, the engine, the information, the suspension, and hundreds of nuts and bolts are shooting away like the exhaust blaze of a rocket.
In December 2021, Sportswear giant Adidas announced that its next collection will be a mix of digital and physical goods and will be sold as NFTs produced with partners such as Bored Ape Yacht Club. This is Adidas' first collection of NFTs or non-fungible tokens.
Adidas is setting the launch as a way to connect with fans and engage "at the forefront of creativity." Adidas chief digital officer Scott Zalaznik said blockchain technology, which records the unique signature and ownership of NFT, presented a huge opportunity for brands. NFTs went on sale on December 17th for 0.2 Ethereum, and digital and physical wearables for NFT owners will be made available in 2022.
Coca-Cola's entry into the fast-growing metaverse was a huge hit with fans and the crypto community, with the brand's first NFT (Non-Fungible Token) collectibles collecting a winning bid of $575,883.61 in an online auction. Auctioned in 72 hours as a single "loot box" through the open sea marketplace, friendship day-inspired NFTs put a virtual-world spin on iconic coca-cola merchandise.
The friendship box reimagines an old coca-cola cooler with dynamic motion and light that includes three other NFTs: a custom-designed coca-cola bubble jacket to be worn in the decentraland 3D virtual reality platform; a sound visualizer depicting the recognizable sound of enjoying a coca-cola; and a coca-cola friendship card with fresh artwork from 1948.
The winning member will also collect a real-life, fully stocked coca-cola refrigerator. All coca-cola profits from the NFT auction will go to Special Olympics International. The coca-cola loot Box, which is now split into separate NFTs for secondary sale, is one of the top five NFTs ever sold on the open sea. It credits the NFT's surprising and pleasing aspects, retro design, and collectibles with driving engagement and demand.
In the early weeks of January 2022, Samsung announced that it was planning larger support for NFTs starting with the 2022 TV lineup. In its press release, Samsung declared that “With the rising demand for NFTs, today's fragmented viewing and buying landscape has never been greater.’’
Samsung will initiate the world's first TV screen-based NFT explorer and introduce a marketplace aggregator, a groundbreaking platform that allows you to browse, buy and showcase your favorite art – all in one place. The NFT platform is hoped to be made available as the upcoming TVs will start shipping in the months of 2022. And it's not finished yet. Samsung has also circulated it's oddly-named '837X' virtual world in the blockchain-powered decentraland metaverse in January 2022.
McDonald's fast-food chain enters NFT space. It is releasing its first NFT collection of 10 giveaway pieces. The collection is celebrating the 40th birthday of McRibs sandwiches. According to a press release from the company, the fast-food chain will start offering NFTs to fans on Twitter from November 1. McRib will also begin participating in McDonald's on the same day.
Ray-Ban is granting the world's first non-fungible token (NFT) eyewear, and it was created in collaboration with German artist Oliver Latta, also known as extravagant.
Ray-Ban's iconic aviator glasses have been featured on NFT, and fashion united UK reports that the eyewear company is auctioning the item through the NFT marketplace, open sea. The eyewear company has achieved a new milestone for its irreplaceable token eyeglasses as it is also Ray-Ban's first virtual product that will bring fans into the world of the Metaverse. Ray-Ban is the latest brand in the fashion world to have its non-fungible token (NFT) and since the door has been opened, the eyewear brand is required to issue more NFTs in the future.
Gucci is the latest fashion brand to associate with NFT with the launch of a limited series of digital collectibles. Italian luxury fashion brand Gucci is the latest to make its way into Web 3 with the upcoming drop of 10 non-fungible tokens (NFTs) on February 1.
The NFT has been created in collaboration with cult toy brand superplastic and co-designed by Alessandro Michele, head of design at Gucci. Each NFT will be provided with a ceramic sculpture handmade in Italy and co-designed by Gucci. Super Plastics is a company that manufactures artistic vinyl toys for the collectibles market and releases NFTs. Superplastic was founded in 2018 by Kidrobot founder Paul Budnitz. Gucci tweeted about the roadmap and launch of a channel to encourage open conversation with the community about what's additional in the metaverse.
Formula 1 launched the NFT which included car parts and drivers, in an Ethereum-powered gaming initiative known as "F1 Delta Time".
The F1 NFT game was created by Animoca Brands, a company that worked with several other brands to launch NFT. Other NFTs that Animoca brands have assisted in creating NFT include formula E. Last December, the first F1 NFT share was sold for approximately $223,000. At the time, it was one of the most expensive NFTs to launch. However, this record has since been broken as the demand for nfts has grown massively.
Reddit is reportedly aiming to add a feature that will let its users show their non-fungible tokens (NFTs) as profile pictures. This feature will be related to the one that twitter initiated earlier this month. However, as per the report, the details regarding the NFT profile picture feature of Reddit are yet to be confirmed. Last year, Reddit dubbed its NFT CryptoSnoos. The report says that users will be able to use CryptoSnoos and other NFTs as profile pictures on Reddit. Reddit did not declare when the feature would be available.
In June 2021, Reddit confirmed CryptoSnoos NFTs. Limited-run NFTs are built on Ethereum. Ethereum rate in India at 4:57 PM IST on January 27 was Rs. 1.98 lakhs.
One of the major brands entering the NFT is the NBA. While it hasn't entered the sector directly, the NBA top shot is one of the most loyal NFT marketplaces in the sports sector. This marketplace works in selling top basketball moments. It has enjoyed incredible growth in the last year, selling in lakhs. Some of the players shown in moments sold on NBA top shots include Lebron James and other iconic players.
While it is unclear whether the NBA will eventually launch its NFT or NFT marketplace, NBA top shot remains the top NFT invention in this area.
Each of these brands is making something unique to the list by launching NFTs. NFTs are not only allowing these firms to connect with their fans better but are also attracting new funding. Some companies are even using some of these funds for social responsibility initiatives, lending them an edge over their competitiveness. It is also a way to keep these brands alive by being digital-savvy and NFTs are also helping these brands attract a new type of audience.