Coca-Cola in Serbia and Solana NFT platform SolSea are working together on a non-fungible token offering at a music event.
The deal allows the soda company to give away 100 limited edition hoodies, along with NFTs, to some participants.
NFT infrastructure protocol All.Art is a facilitator. According to a July 5 blog, festival-goers can use a tool called “Magic Mirror,” which places random merchandise on the users in a 3D image, which they can see in real-time. Users can then get a picture of this by scanning a QR code.
The deal will be available from July 6 to 9 at the EXIT Festival, a yearly event in Novi Sad, Serbia. Prominent industry names like Alesso, Ben Böhmer, Dimitri Vegas & Like Mike, Eric Prydz and Skrillex are set to perform.
The collection has been split into batches, with some available for purchase at the festival while others are exclusively reserved for high-value festival ticket holders, a SolSea spokesperson told Blockworks.
In a world where digital items can be easily duplicated, NFTs which provide indisputable proof of ownership of a digital asset is seen as a game-changer for brands.
When a brand sells an NFT, it’s selling a one-of-a-kind digital asset that can’t be perfectly copied. This makes the item rare, and that rarity can sometimes increase its value, when the item is in demand.
Moreover, NFTs form part of a traditional marketing initiative, by offering a new way to engage with younger, tech-savvy audiences who are familiar with the digital and crypto space. As a result, many brands are exploring NFTs as a way to delve deeper into the digital world, increase engagement and open up new revenue streams.
Coca-Cola has taken part in other projects involving NFTs in the past.
In 2021, the company worked with 3D art platform Tafi to make virtual NFT loot boxes and auction them in the metaverse.
Then, it sold its first-ever digital collectibles on NFT platform OpenSea for more than $575,000. Funds generated were given to the Special Olympics International.
Coca-Cola has also made digital collectibles to celebrate Pride Month and the 2022 FIFA World Cup in Qatar. blockworks.co