Budweiser is building brand assets in the Metaverse & the Crypto Economy: launching an NFT collection, joining a DAO, partnering with Zed Run, a blockchain gaming platform on Ethereum. Will it be worthwhile? Only time will tell, meanwhile, they're learning a lot about tomorrow's digital world.
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Budweiser in the Metaverse
Back Story: Budweiser is going big in the new world of crypto, NFTs, Web3 and the Metaverse.
In the latest move, Budweiser has announced it is putting its brand (and marketing dollars) behind the Ethereum-based blockchain horse racing game called “Zed Run”.
The beer brand plans include: branded designs for the horses (aka “skins”), a Budweiser-themed race track, in-game challenges and real money cash prizes and co-branded merchandise.
It’s a big deal for Budweiser as they associate themselves with the attention economy in the Metaverse.
- Last year, Budweiser paid around $100k for the Ethereum Name Service “beer.eth” (think of an ENS like a URL on the Internet, it's a pointer to an address. In this case, it's an Ethereum wallet address.)
- In November, Budweiser released 1,936 themed NFTs, dubbed the “Budverse”. Each of these limited edition NFTs has access to additional content as Budweiser continues to figure out how best to adopt these new technologies into its consumer brand.
- Earlier this year, ahead of the Super Bowl, Budweiser joined the DAO for the Nouns’ NFT project. This included purchasing a Nouns’ NFT that they used in their Metaverse-themed Super Bowl ad.
Remember: NFTs are all about Scarcity and Status.