This is not Coca-Cola’s first foray into the world of NFTs. In July 2021, Coca-Cola auctioned its first-ever NFTs as a single asset.
The household brand name Coca-Cola has launched its Masterpiece NFT collection on the Coinbase layer-2 network, Base. Recall that last week, the Base mainnet officially opened to the general public with over 100 Dapps and service providers.
Coinbase announced Coca-Cola’s NFT launch as part of its “Onchain Summer” initiative which began on August 9. The OnChain Summer initiative is to celebrate Base’s mainnet launch with on-chain art, gaming, and music projects. The aim is to demonstrate the efficiency and cost-effectiveness of the Layer 2 chain.
About the Masterpiece NFT Collection
The Coca-Cola NFT collection features either a classic or a modern artwork, intertwined with the iconic Coca-Cola bottle. Classics such as “The Scream” by Edvard Munch and “Girl with a Pearl Earring” by Johannes Vermeer are used in the collection. The collection includes eight NFT versions, available from 0.0011 ETH to 0.014 ETH.
“Coca-Cola is bringing their Global Masterpiece campaign on-chain with iconic works from leading artists,” the announcement said.
Since announcing the mint on Sunday, nearly 50,000 NFTs have been minted via the mint.fun platform. One can expect that many more will be minted with the minting period not due to end until Wednesday.
Not the First Rodeo
This is not Coca-Cola’s first foray into the world of NFTs. In July 2021, Coca-Cola auctioned its first-ever NFTs as a single asset. The auction was a big hit with fans and the crypto community and sold for over $575k. The proceeds were then donated to Special Olympics International. Later in July 2022, the company launched another 136 digital collectibles to celebrate Pride Month.
Coca-Cola is not the first major brand to join the NFT craze. Other companies such as Nike, Asics, Louis Vuitton, Mattel Creations and Taco Bell have all launched NFT collections in recent months. However, Coca-Cola’s Masterpiece NFT collection is unique in its use of Base. The brand could very well be the largest consumer brand to be involved with Base so far.
Later this month, other digital collectible projects like Zora, Pixelmon, Showtime, and Indelible are also expected to launch on Base. As more brands follow suit, it will be interesting to see how Base paves the way for more mainstream adoption of NFTs.
An experienced writer with practical experience in the fintech industry. When not writing, he spends his time reading, researching or teaching.