Non-Fungible Tokens, or simply ‘NFTs’, a unique digital certificate registered in a blockchain that can be used to record the ownership of an asset (such as an artwork or a collectible), have taken the entire universe by storm. The buzz is getting louder with some of the marquee brands announcing the launch of a collection of NFTs.
On that note, let’s take a look at some of the globally renowned brands that have propagated this digital art form:
Nike, on December 13, made a foray into the crypto collectibles space by taking over NFT studio RTFKT (pronounced “artifact”), a leading brand that leverages cutting edge innovation to deliver next generation collectibles that merge culture and gaming. While making the acquisition, the company affirmed that this is another step that accelerates its digital transformation and allows it to serve athletes and creators at the intersection of sport, creativity, gaming and culture.
Gucci too got into this space by auctioning off its maiden NFT virtually in June this year, a report by ART news said. Drawing inspiration from “Gucci Ari (the brand’s fashion film directed by Alessandro Michele and Italian-Canadian director Floria Sigismondi), the NFT was one digital ‘art piece’ which was available for bidders at a starting price of $20,000. Following the virtual auction by Christie’s, the Italian luxury powerhouse donated all its proceeds to UNICEF USA.
Mcdonald’s rolled out its first ever NFT in honor of McRib’s (The McRib—a boneless pork sandwich) 40th anniversary. The fast food chain started giving out the NFTs to its fans on Twitter starting November 1.
By collaborating with VeVe Digital Collectibles, Marvel Comics introduced a series of Spider-Man and Captain America NFTs in August’21. Users could use the VeVe app via iOS or Android smartphones to hunt and trade the NFT collectibles.
The National Basketball Association (NBA), in association with National Basketball Players Association (NBPA) and Dapper Labs, the leading consumer Blockchain Company and creator of CryptoKitties, also announced the development of NBA Top Shot, a new digital platform for its basketball fans to collect, trade, and own some of the greatest moments in league history on blockchain.
MG Motors too announced that the company plans to launch NFTs by extending its partnership with KoineArth India Pvt Ltd, a homegrown blockchain firm. The automaker will use KoineArth’s NgageN platform to launch an NFT collection that will go on sale starting December 28 (12 Noon onwards).
The next edition of the Indian Premier League (IPL) could also witness fan tokens from multiple teams participating in the tournament, as reported by ET.