Budweiser purchased a non-fungal token (NFT) of the space rocket that used it with its logo Twitter Photo, and snatched the domain name beer.eth, the beer maker confirmed to insiders this week.
Anheuser-Busch’s subsidiary caught the attention of the cryptocurrency community on Wednesday when it uploaded a big-themed rocket, part of artist Tom Sax’s rocket factory NFT project. This too Tweeted Three space rocket emojis, often used by meme stock buyers and corrupt fans to indicate that an asset is ‘going to the moon’.
“Budweiser is taking its first step into the NFT universe. We look forward to supporting Tom Sacks and his Rocket Factory project and joining this incredible community.
NFTs are digital assets such as art pieces, audio clips, virtual sports cards, or even tweets, connected to blockchain networks. Therefore, every NFT is unique and almost impossible to modify or duplicate which makes them popular among artists. Most anyone online can still watch NFT, but there is only one verified owner of the token on the blockchain.
The rocket factory project was launched earlier this year and allowed people to buy NFT rocket parts, which they can create in the real world by putting all NFT rocket parts together. The physical rockets are then assembled and launched – according to the project’s medium page, the first flights will be on August 28.
According to the NFT platform OpenC, Budweiser paid 8 ether coins (worth US $ 25,000 (AU34,489)) for the rocket. Records show that the beer maker bought the domain name ‘beer.eth’ for 30 ethers (لکھ 94,000 (U AU129,680) at the time of writing)), under which Rocket and other NFTs are corrupt platforms. Are saved on
Budweiser is the latest major company to move into NFT and crypto space, with Coca-Cola and Marvel being the favorites in creating and selling digital assets to consumers.
The popularity of NFTs has increased in 2021 and there is no sign of a slowdown in the market – f 1 (U AU1) billion has been spent on NFTs in about 300,000 sales in about 30,000 days. Still, experts say the token has a long way to go before it can reach the mainstream and needs to be adjusted in terms of affordability and accessibility.