Budweiser buys Beer.eth domain name for 30 Ethers (ETH)

Budweiser enters the world of NFTs

According to data from the OpenSea marketplace, the Budweiser company bought on August 24 a non-fungible token (NFT) representing a rocket with the brand logo for 8 Ether (ETH), or about $ 25,000.

The image called “Life of the Part” by artist Tom Sachs, representing a rocket made up of 2 cans of beer. The company already uses this NFT for its official profile picture on Twitter. At the time of publication, all 225,000 Budweiser USA subscribers can still see the image. The company explained:

“Budweiser is taking his first steps in the world of NFTs. We are thrilled to support Tom Sachs and his Rocket Factory project and join this amazing community. “

On August 11, the famous brewer also purchased the domain name Beer.eth through Ethereum Name Service (ENS) for 30 ETH, or more than $ 95,000 at the time of acquisition.

Various beer companies operating under the aegis of Anheuser-Busch InBev, parent company of Budweiser, have entered the NFT market. For example, UK branch Stella Artois issued a series of skins for use in the blockchain game Zed Run.

Visa and Arizona Iced Tea lead the way

Earlier this week, payments giant Visa made headlines after paying $ 165,000 for a CryptoPunk. In addition to this historic initiative for the sector, Visa spoke directly about the potential impact that NFTs will have in the near future.

“We believe that NFTs will play an important role in the future of retail, social media, entertainment and commerce. “

Last example, the Arizona Iced Tea company announced that it had purchased an NFT from the Bored Ape Yacht Club series. The beverage brand plans to use its digital monkey in its marketing materials.

👉 To read on the same topic: What is Ethereum Name Service?

About the author: Florent David

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Engaged in the crypto ecosystem since 2017. I am particularly interested in decentralized finance (DeFi), Ethereum 2.0 and non-fungible tokens (NFT).
All articles by Florent David.

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