Budweiser Dives Into Crypto: Pays 38 ETH for Beer.eth Domain Name and Rocket NFT

August 27, 2021, 10:15 AM AEST - 1 month ago

American beer brand Budweiser has bought the Beer.eth domain name for 30 ETH and changed its Twitter profile picture to that of an NFT rocket ship from manufacturing plant Rocket Factory for another 8 ETH, its total outlay the equivalent of US$120,000.

For the uninitiated, .eth domains can be created via the Ethereum Name Service (ENS), a distributed, transparent and extensible naming system powered by the Ethereum blockchain. All .eth domain owners are able to use their addresses to receive ETH, other cryptocurrencies and even NFTs.

The Tom Sachs-designed Budweiser rocket ship. Source: decrypt.co

Parent Company Partners With Gary Vee

The new Budweiser rocket ship NFT was designed by Rocket Factory’s Tom Sachs. Budweiser’s parent company, Belgium-based Anheuser-Busch InBev (AB InBev), first dipped its toe into the burgeoning NFT collectibles industry last July when it signed a partnership deal with Gary Vaynerchuk, aka Gary Vee, a Belarusian entrepreneur and internet personality. At the time, the team made it clear it would invest in Vaynerchuk’s NFT media shop, which would mint Budweiser’s NFTs on the platform.

Budweiser’s breadth gave us an opportunity to go big because we think NFTs are not a fad … crypto-collectibles have the potential to change the way people think about their sponsorship properties in the future.

Richard Oppy, vice-president, global brands, AB InBev

Just Another Phallic Symbol?

Bizarrely, the wallet that holds the Tom Sachs Budweiser rocket and the beer.eth NFTs also holds a random assortment of other NFTs, including two shaped like a penis (see PeePeeBoy, above) and one pointedly called the “cryptodickbutt”. It has to be said that the shape of the Bud rocket ship is not a million miles removed.

Budweiser is not the first big beverage brand to recognise the potential market for NFTs. As reported on July 30 by Crypto News Australia, Coca-Cola released a collection in association with OpenSea and Decentraland to mark International Friendship Day and raise money for Special Olympics International.

The Budweiser NFT rocket mission, on the other hand, appears to be a strictly commercial arrangement.

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