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Coca-Cola Enters the NFT Marketplace for Olympic Funding

By Harry B - Crypto Specialist - 28-07-2021

Coca Cola

At the end of the month, the OpenSea marketplace will open a three-day auction for people to buy crypto-based art made by Coca-Cola. Digital artist Tafi was amongst the designers for the non fungible assets. These were created with ‘video-game loot boxes’ in mind, of which once the user is granted access, reveal multiple ‘hidden surprises’. Access and ownership is only available to the individual who completes the purchase. 

Referred to as "Friendship Boxes", the NFT will contain a Coca-Cola cooler, a bubble jacket item of clothing that users can wear in the Ethereum powered virtual landscape of Decentraland. Participants will also possess one friendship card, a virtual sound instrument that plays the sound of a bottle opening, a soft drink poured over ice, and the fizz sound commonly associated with carbonated beverages. Soft drink fanatics can submit their bids in Ethereum (ETH) through the OpenSea platform until August 2.

"Each NFT was created to celebrate elements that are core to the Coca-Cola brand”, spokesperson and president of Global Coca-Cola Trademark Selman Careaga stated. They have been “reinterpreted for a virtual world in new and exciting ways”. 

The soft drink company announced that the auction revenues would be donated to Special Olympics International, a sports organisation dedicated to addressing and removing exclusion and prejudice against individuals with learning and physical disabilities.

While the beverage manufacturer has never explored the cryptocurrency trading and blockchain industry, several bottling partners utilise decentralised ledger technologies for their supply chain management.

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