Saturday, May 21, 2022

The biggest consumer brands that engaged with crypto in 2021

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2021 was an thrilling yr for crypto, with a number of well-known — some surprising — manufacturers coming into the crypto sector. Right here’s you, Charmin, and your bathroom paper nonfungible tokens (NFTs). The yr noticed its fair proportion of moments that had crypto lovers on the sting of their seats.

Whereas many individuals continued to speak usually in regards to the revolutionary energy of cryptocurrencies and blockchain, it appears as if 2021 was the yr when the concepts underlying these applied sciences actually took maintain of the consciousness of the mainstream. From NFTs to Web3, there has by no means been extra curiosity expressed from conventional gamers in relation to this fast-expanding ecosystem.

Listed here are a number of the greatest strikes made by main shopper manufacturers to have interaction with and undertake numerous crypto-centric applied sciences — be it merely shopping for Bitcoin (BTC) or releasing an NFT assortment. 

Tesla makes waves by shopping for Bitcoin

No record of this nature could be full with out mentioning the information that most likely obtained most of at the moment’s youthful — and sure older, too — crypto traders within the house. In February, Elon Musk’s Tesla made a bombshell announcement, revealing it had invested a whopping $1.5 billion {dollars} in Bitcoin. This was almost 8% of Tesla’s $19 billion money and money equal reserves, the quantity it held in accordance with a 2020 Securities and Trade Fee submitting.

As quickly as Musk made his foray into the world of cryptocurrencies, the worth of Bitcoin shot up meteorically — rising from $38,000 to over $57,000 inside roughly two weeks. Not solely that, however over the course of the yr, Musk revealed to the world that he had additionally made sizable acquisitions of different property like Ether (ETH) and Dogecoin (DOGE), though he didn’t disclose the precise quantities.

Dallas Mavericks begin accepting Dogecoin

One other choice that had crypto traders everywhere in the world fairly intrigued was Mark Cuban’s transfer in March to permit followers of his NBA franchise, the Dallas Mavericks, to buy tickets and other licensed merchandise utilizing Dogecoin, the favored meme cryptocurrency. And whereas the transfer got here as a shock to some, for these following the crypto market carefully, the choice was utterly in step with Cuban’s all-encompassing imaginative and prescient for the fledgling altcoin sector.

Over the course of 2021, Cuban repeatedly referred to himself as an “Ethereum maxi,” claiming that the blockchain’s fast-expanding ecosystem may simply be one of the biggest tech revolutions of the twenty first century. He additionally publicly hailed Dogecoin as a superior medium of trade than Bitcoin. 

Nike enters the Metaverse

In December, sportswear producer Nike made its crypto debut by revealing its acquisition of digital sneakers and collectibles model RTFKT. On account of the partnership, Nike formally grew to become the most important producer of athletic-based items inside the US and one of many first big-name attire manufacturers to enter the burgeoning Metaverse ecosystem.

Nike CEO John Donahoe said that the corporate will have the ability to “serve athletes and creators on the intersection of sport, creativity, gaming and tradition” and “prolong Nike’s digital footprint and capabilities.”

Adidas refuses to be left behind

Across the identical time as Nike’s aforementioned transfer, Adidas introduced that it was entering the Metaverse in collaboration with numerous distinguished NFT initiatives, together with Bored Ape Yacht Membership, Gmoney and Punks Comedian. 

The primary enterprise featured items of the Bored Ape NFT household redrawn to function Adidas’ iconic tracksuit. In the meantime, the Gmoney tokens had been designed to leverage the affect of the distinguished NFT proponent, who was not too long ago featured on Fortune NFTy 50. 

Adidas’ Punks Comedian NFTs sought to deliver collectively the world of nonfungible tokens and bodily comedian books to create a novel providing of so-called crypto comics.

Clinique launches NFT-based buyer loyalty program

Estée Lauder-owned cosmetics model Clinique released choose NFTs final yr to assist improve the efficacy of its present buyer loyalty system in addition to add extra advertising and marketing weight to its present line of merchandise. 

The distinguished magnificence model allowed purchasers signed up for its rewards program to acquire these collectibles by merely sharing their “tales of optimism” by way of Instagram, TikTok and Twitter following a big buy.

Coca-Cola’s novel NFT program

Final yr, one of many world’s most recognizable model names, Coca-Cola, released a special NFT program to lift cash for Particular Olympics Worldwide.

As a part of the charitable effort, digital collectible market OpenSea hosted the public sale of Coca-Cola’s NFTs over a three-day interval from July 30 to Aug. 1. The NFT collections had been devised along side famend digital artist and designer Tafi.

Luxurious public sale home Sotheby’s accepts cryptocurrencies

Sotheby’s, one of many world’s most well-known public sale homes, introduced on Could 4 that it might accept Bitcoin and Ether bids (along with conventional fiat ones) for Banksy’s well-known paintings “Love Is In The Air” as a part of its “Modern Artwork Sale” exhibition, making it the primary main public sale home to just accept digital currencies for bodily items of artwork. 

Earlier, in April, Sotheby’s launched an NFT assortment titled “The Fungible” created by digital artist Pak. Every of the collectibles was bought by way of NFT platform Nifty Gateway.

Asics cashes in on the worldwide NFT mania 

July noticed main sports activities attire model Asics launch its first NFT assortment, “Dawn Crimson,” to the lots. A complete of 189 collectibles spanning a complete of 9 completely different Asics digital footwear merchandise — together with a number of the firm’s hottest kinds, reminiscent of Gel-Lyte III, Gel-Quantum 360 and Metaracer — had been made accessible to prospects.

The corporate revealed that proceeds from the public sale can be poured proper again into the Metaverse by way of its Digital Items Artist-in-Residence Program, which has helped facilitate numerous collaborations between the corporate and numerous established and rising digital artists to design its subsequent wave of NFTs.