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Coca-Cola to launch it's first ever NFT on Ethereum network

The beverage giant, Coca-Cola has partnered with Tafi, digital art company, to launch its first  NFT. NFT or non-fungible token is a unique digital collectible that exist on the blockchain and it can in the form of art, image, audio and video. 

Coca-Cola is planning to sell its collectibles from the past in the form of NFTs and it will continue to experiment with the intersection of crypto culture. The US-based beverage giant has planned to sell a series of 4 NFTs (non-fungible tokens) that will be sold together as a unit with an intention to benefit Special Olympics International. NFTs are backed by blockchain technology and have seen a massive adoption in 2021 by artists and cryptocurrency enthusiasts all over the world. Because of this many big companies from Pringles to Superplastic are stepping into the world of NFTs.

Coca-cola to launch NFT

The NFT that is getting launched is known as Coca-Cola Friendship Box, inspired by their famous vending machines. Inside the friendship box there are three different NFTs : a bubble jacket, sound visualizer (like the sound of a bottle opening), and friendship gift card inspired by the trading cards launched by Coca-Cola in 1940. Also the box has other additional prizes which is yet to be known.

Coca-Cola will host a virtual party on Decentraland platform to celebrate the launch of its first ever NFTs. Interested people can bid on the Coca-Cola's NFT, the sale will take place on a popular NFT marketplace OpenSea from 30th July and close on 2nd of August (Bids must be placed using ETH tokens). 

Tafi, an avatar creation company, has partnered with many brands to create avatars clothing and NFT collections. The company has partnered with Samsung to create AR Emoji clothing, VR-chat(for in-chat avatars) and many other companies. 

This is Coca-Cola’s first step towards blockchain to enhance brand awareness and engagement in virtual world. CONA, an independent company that handles Coca-Colas bottling, has previously used the blockchain technology to address logistic tasks such as the bottling supply chain. CONA announced that it a trial use the public Ethereum blockchain technology based protocol, Baseline and they have also invested in digital payments platform CentraPay for vending machine related transactions. 

All the money collected from the auction of Coca-Cola NFTs will be donated to Special Olympics, a global sports foundation that provides adults and children with physical and intellectual disabilities, with the year-round training and activities.

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