Beer producing giant, Budweiser, has acquired the Beer.eth domain name for 30 ether (roughly $95,000), as well as a non-fungible token (NFT) picture for 8 ether (about $25,000).
Consequently, the company has changed its Twitter profile picture to that of its latest NFT purchase, a rocket ship designed by NFT artist Tom Sachs.
A link to the Decentralised Naming System (DNS) address on NFT marketplace OpenSea shows the rocket displayed in Budweiser's Twitter profile was bought for eight ether (US$25,000).
This is coming after fintech company VISA acquired a CryptoPunk NFT for $150,000, signalling that NFT adoption is already reaching institutional levels.
Richard Oppy, vice president of global brands at Budweiser's parent company, Anheuser-Busch InBev, announced last month that the beer brand is investing in a new NFT media shop run by internet entrepreneur Gary Vaynerchuk.
The shop, touted as a “long-term business play” by beer company executives, will see Budweiser's, including other beer brands', intellectual property packaged and sold as NFTs.
Mcnichols Plc was incorporated on August 26, 2004, McNichols Plc is a relatively...LEARN MORE