Anheuser-Busch InBev’s beer brand Budweiser launched its first non-fungible token (NFT) collection, the Heritage Collection, featuring 1936 unique digital designs of beer cans as digital assets. The collection was dropped yesterday and sold out in less than one hour. Twenty percent have already been flipped for a higher price, with another 75% up for sale.
The NFTs could be purchased by consumers above drinking age through Budweiser’s website using cryptocurrency or regular credit cards. The pricing of the item depended on their scarcity, as Budweiser launched two collections Core Heritage and Gold Heritage. A total of 1900 Core Heritage NFTs were minted and priced at $499. The other 36 NFTs were part of the Gold Heritage set and sold for $999 each.
Many brands have been using NFTs as part of rewards schemes to promote loyalty. In those projects, NFTs are usually given away for free, either through a lottery or through proof of purchase, and they serve to make consumers want to be a part of the brand. Rather than looking for ‘flippers’ the idea is for people to keep the NFT and enhance a sense of community among the digital asset holders. Giving away NFTs for free is arguably the safer option for a brand.
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