Budweiser seems to have assembled a nonfungible token (NFT) on Tom Sach’s Rocket Factory collection.
According to OpenSea market data, on 24 August, the beer manufacturer bought a Budweiser branded NFT for 8 Ether (ETH) or about $25,704. The business utilized the “Life of the Party” image of its official Twitter profile with three beer cans forming the body of the rocket ship. Budweiser’s 224,900 followers may still see the picture at the time of publishing.
Budweiser’s Blockchain Moves
Tom Sachs, the inventor of the NFT, appears to have made another step towards the crypto and the blockchain with this recent purchase by acknowledging the retweet. The firm also purchased the Beer.eth domain name on August 11 via the OpenSea Name Service for 30 ETH, or more than $96,000 at publishing.
Welcome to the party 🚀🍻 https://t.co/uSh51Vyr41
— Tom Sachs: Rocket Factory (@tsrocketfactory) August 25, 2021
Different beer businesses operating under Anheuser-Busch In Bev, Budweiser’s parent company, have entered the blockchain world. In June, the UK pilsner beer arm Stella Artois produced a set of NFTs for use on horses in the Zed Run digital racing game. In 2020, Anheuser-Busch InBev launched a tool for consumers to monitor their beer supply network on the blockchain.
What is Tom Sachs Rocket Factory?
The Tom Sachs: Rocket Factory NFT initiative was launched in early August and provided 3000 branded rocket components that could be assembled. The NFT collection is a collaboration with New York artist and sculptor Tom Sachs. The website states:
Tom Sachs: Rocket Factory is a trans-dimensional manufacturing plant. Our Rocket Factory uses NFTs to build new NFTs.
This is your opportunity to make an NFT your own. The Component NFTs will be claimed randomly, but how you combine them to mint a Completed Rocket is entirely up to you. We are putting the power in your hands. You, the community, will decide- out of 113,500+ potential combinations- which 1,000 Rockets the world needs. Build the Rocket you desire, the Rocket that defines you.
A rocket that is built requires three components, a nose cone, a body and a tail. Each component was sold for 0.15 ETH plus gas at a mint price.
Popular companies such as USPS, NASA, Skippy Peanut Butter, 7-Eleven, Trojan condoms, Sweet ‘N Low, Yoda and Brian from the family Guy included in their components.
The acquisition from Budweiser and subsequent change of image resulted in the value of Tom Sachs: Rocket Factory NFT rockets being completely built. After Budweiser bought in, several acquisitions of 10 ETH or more were made.
Two big businesses such as Visa and Budweiser may provide legitimacy to the NFT industry, which may have lasting power beyond being questioned as a “bubble.”