Pepsi Introduces First NFT Series From VaynerNFT: How You Can Grab One
The list of brands launching non-fungible tokens continues to grow, as companies see the value they can create engaging with active NFT communities and partners. One global iconic company added itself to the list Thursday.
“Today, Pepsi announces the brand’s first-ever foray into the innovative and evolving world of non-fungible tokens with the Pepsi Mic Drop genesis NFT collection,” the company said.
The NFTs, which will be on the Ethereum (CRYPTO: ETH) blockchain, will be available for free plus the cost of gas.
“The exclusive generative traits of the Pepsi Mic Drop genesis NFT collection, generated randomly by an algorithm so each NFT is totally unique and different, pay homage to the brand’s storied history in music and the suite of Pepsi flavors that have captivated unapologetic cola-loving consumers for decades.”
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Pepsi is opening a waitlist on Friday Dec. 10 at noon ET. The NFTs will be mintable on Dec. 14 for those who made the waitlist.
“We created the Pepsi Mic Drop genesis NFT collection for our fans, putting their interests and needs at the forefront by ensuring the NFTs are all free of charge,” Pepsi Vice President of Marketing Todd Kaplan said.
The Pepsi Mic Drop NFT collection was designed by VaynerNFT, a NFT-themed company that counts Gary Vaynerchuk as its CEO. VaynerNFT has been active in launching NFT collections with companies looking for entry into the growing space.
"I love that Pepsi is embracing one of the most significant technology shifts of our lifetime," Vaynerchuk said.
"NFTs will change the culture of value creation forever; this is an exciting moment for the brand to build loyalty and bring immense value to its community & fans."
Why It’s Important: The introduction of NFTs by PepsiCo follows many other big brands launching NFTs.
Anheuser-Busch InBev (NYSE:BUD)-owned Budweiser made headlines recently with the launch of “Budverse Cans: Heritage Edition.” The collection of 1,936 NFTs were sold at starting prices of $499 and quickly sold out.
The floor price for the Budweiser Can NFTs on OpenSea is 0.7 ETH, or around $2,912 at the time of writing.
Other large brands are using NFTs to monetize their intellectual property, especially a growing number of media and entertainment companies.
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