October Fest much?
No. We are definitely not kidding. You read it just right. One of the largest-selling beers in the United State has jumped onboard the NFT ship and actually sailed to the great heights with the purchase of the “beer.eth”, which is in fact none other than the Ethereum domain name, well that along with a piece of a non-fungible token (NFT) art. What a beautiful day to see this venture! Right?
The records from the NFT marketplace OpenSea suggests that the beer maker has actually spent 8 Ether (approximately $25,704) on an NFT bottle rocket from the Tom Sachs Rocket Factory Collection. If we are being completely transparent, on Monday evening the company even changed its official Twitter profile picture to the Budweiser-themed rocket. This definitely suggests that it has bought the NFT. The same address that bought the NFT art also recently purchased the ENS domain “beer.eth” for $100,000 (30 ETH). ENS stands for Ethereum Name Service. This new naming protocol could be considered as the blockchain equivalent of the commonly used Domain Name System (DNS). It allows users to register custom websites or wallet names on the Ethereum network. Just like regular domain names that can be bought and sold on the internet, ENS domains can be purchased or sold as NFTs.
Budweiser also purchased the “beyondbeer.eth” ENS domain. It seems that Budweiser’s entry into the NFT space was just a few days after multinational payments giant Visa announced that it had spent $150,000 on a CryptoPunk.
The world is speaking in cryptocurrency and tokens. NFTs are taking the world by storm, making it reach soaring highs. With giant brands and companies entering the trend, the craze is definitely doubling. Each celebratory Tweet and investment has an effect and the effect in the marketplace is definitely positive. Well, if one looks at all the investments carefully, it surely has a pattern and this pattern definitely suggests success. The NFTs have currently gathered a stronghold and hopefully, in the future, this hold will keep on growing.