How Global Brands Like TikTok And Anheuser-Busch Are Approaching The Metaverse And NFTs
In a time when consumers are paying to skip advertisements, global brands are reimagining how they engage consumers by entering the metaverse. From social video sharing app TikTok to American beer company Anheuser Busch, companies across sectors are dipping their toes in the realm of NFTs.
“You don't want to see a metaverse devoid of brands because you'd be missing a lot of the things that you actually love,” says Nick Tran, the global head of marketing for TikTok.
Leaders of the brands spoke about their NFT strategies at Christie’s Art + Tech one-day conference on Thursday where artists and thought leaders spoke about the emerging technology of NFT and its impact on art and society. slotpg
Non-fungible tokens (NFTs), unique digital assets whose prices are driven by their scarcity, have not only created a way for digital artists to monetize innovation but also a way for brands to build a community and support a cause.
In June, Anheuser-Busch minted NFTs for its premium Stella Artois beer and partnered with ZED RUN to create 50 unique horses for digital horse racing. The horses sold for millions of dollars, according to Spencer Gordon, who leads the marketing team at Anheuser-Busch. “When they sold we donated the money to help bars and restaurants in Europe that were suffering from the (Covid-19) crisis,” he says.
The 165-year-old brewery also dropped an NFT of Chef Marcus Samuelson's yardbird chicken recipe to honor National Fried Chicken Day on July 6.
But the cut throat race to be one of the first brands to launch an NFT has resulted in a clutter of low-quality NFTs issued only for the sake of earning money rather than resonating with buyers. “There is no real functionality or even art to it,” Tran says.”There is no craft, it was literally just, let's get this out quickly, get the headline, move on to the next thing. 95% of those are probably going to fail.”
