Photo Credit: Budweiser
American beer brand Budweiser is launching a series of 1,936 non-fungible tokens to celebrate the birth of its first ever beer can that happened in the year 1936. The company that launched back in 1876, and plans to use the NFT collection to honour its journey so far. This NFT series is titled the “Budverse Cans: Heritage Edition”. This is the first ever NFT collection dropped for sale by Budweiser and all the items are built on the Ethereum blockchain.
Each NFT is shaped as a Budweiser beer can, but generated using archived photos, advertisements as well as designs from throughout the brewery's history.
Out of the total 1,936 NFTs, 36 have been listed as “Gold NFTs” that cost $999 (roughly Rs. 75,000) that come with special rewards for the buyers. The other pieces are priced $499 (roughly Rs. 37,000) and they fall under the “Core NFTs” category.
While not getting into details on the “Budverse” yet, the company website did, “welcome” the buyers “to the best beer community in the metaverse”.
Budweiser also changed its Twitter name to “beer.eth” referring to the Ethereum blockchain network. Visuals of the NFT series that launched on Monday, November 29 have been posted on Twitter, take a look.
Buyers will, however, need to pay $75 (roughly Rs. 5,600) as a “gas fee” to complete the purchase. Gas fee is basically the transaction fee to complete the payments on blockchain protocols.
This high gas fee did get Budweiser some criticism online.
I love how Budweiser chose to drop an NFT on a blockchain that their average consumer can't afford the gas fees on. https://t.co/BKA3BsS3dT— sp00n1cus.sol (@sp00n1cus) November 29, 2021
This is not the first time that Budweiser has approached the NFT space in recent times.
In August, the beer company had bought an NFT of a rocket embroidered with the Budweiser logo from OpenSea NFT marketplace for eight Ether tokens which were worth $25,000 (roughly Rs. 18 lakh) at the time. At the current Ether price, the same NFT is now worth $35,075 (roughly Rs. 26 lakh).
The company also purchased the domain name “beer.eth” for 30 Ether tokens – that added up to $94,000(roughly Rs. 70 lakh) at the time of purchase.
In the third quarter of 2021, NFT sales volume surged to $10.7 billion (roughly Rs. 79,820 crores), up by over eightfold from the previous quarter, according to data from market tracker DappRadar.