Multinational beverage corporation Coca-Cola Co (NYSE:KO) has partnered with digital wearable designer Tafi to launch its first set of nonfungible tokens (NFTs).
Coca-Cola’s NFTs will be a set of digital collectibles, set to launch on July 30 to celebrate International Friendship Day.
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What Happened: According to a press release, Coca-Cola will auction an NFT loot box consisting of digital apparel on the decentralized marketplace OpenSea. Proceeds from the auction will go towards the Special Olympics.
All the digital collectibles can be worn in the decentralized 3D virtual reality world of Decentraland (CRYPTO: MANA), which is powered by the Ethereum (CRYPTO: ETH) blockchain.
The NFT auction will begin at midnight on July 30 and run for 92 hours. Participants can bid on a reimagined version of a collectible vending machine – the Coca-Cola Friendship Box. Once opened, auction participants can access three one-of-a-kind digital assets.
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These include the Coca-Cola Bubble Jacket Wearable, the Sound Visualizer, and the Friendship Card.
"Coca-Cola is one of the most collectible brands in the world, sharing its rich heritage with consumers through simple moments of joy for decades," said Selman Careaga, president of Global Coca-Cola Trademark.
“Each NFT was created to celebrate elements that are core to the Coca-Cola brand reinterpreted for a virtual world in new and exciting ways."
Price Action: At press time, Coca-Cola shares were trading 0.98% lower at $56.70.
In cryptocurrency markets, MANA was trading at $0.6893, losing 2.59% over the past 24-hours, while Ethereum was down 3.84%, trading at $2,316 at press time.