Coca-Cola Drops Its First NFT Collection in Charity Auction

July 30, 2021, 12:00 PM AEST - 1 month ago

The world’s most recognisable beverage brand is set to release a collection of non-fungible tokens (NFTs) to mark International Friendship Day and raise money for Special Olympics International.

Peer-to-peer marketplace OpenSea is holding a three-day auction for Coca-Cola-branded NFTs from July 30. The collections, created in partnership with digital designer Tafi, were “inspired by video-game loot boxes” and contain “hidden surprises” available only to those who purchase the artwork.

The so-named “Friendship Boxes” include a classic Coca-Cola esky, a wearable bubble jacket that can be used in the Ethereum-based VR world Decentraland, and a friendship card.

That Familiar Fizz of Effervescence

An added feature is a “sound visualiser” that plays audio of a bottle opening, a beverage being poured over ice, and the accompanying familiar fizz of effervescence common to carbonated beverages.

Coke enthusiasts can place their bids in Ether through OpenSea until August 2.

Each NFT was created to celebrate elements that are core to the brand, reinterpreted for a virtual world in new and exciting ways. We are excited to share our first NFTs with the metaverse.

Global Coca-Cola trademark president Selman Careaga

Coca-Cola says it will donate auction proceeds to Special Olympics International, a sports organisation dedicated to ending discrimination against people with intellectual disabilities.

In May, Ethereum co-founder Vitalik Buterin donated US$60 million in ETH after dumping his huge stash of three dog-theme coins. Buterin dispersed the resulting funds to various non-profit organisations, donating the dog-themed tokens and even some of the ETH he made in the sale.

Coke Bottlers Cotton On to Crypto

Though the company is not renowned for its involvement in the crypto and blockchain space, some of Coca-Cola’s bottling partners use decentralised ledger technology for supply chain management.

The 129-year-old Atlanta-based beverage behemoth retains an interest in the potential of blockchain technology, however. In September 2020, its Australasian arm Coca-Cola Amatil partnered with Centrapay to allow Australians and New Zealanders to buy Coke from vending machines using bitcoin and other cryptos.

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