Many have already pronounced the death of NFTs, and in part, they are correct. Amidst the fervor of the NFT hype cycle, we saw huge valuations and sales such as Beeple’s ‘The 5000 Days’ collection selling for a staggering $69.3 million. However, not substantiated by anything beyond the hype, the market came crashing down with […]
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The allure of creating your own NFTs and BRC-20 tokens is undeniable. For artists, owning and monetizing their digital creations through NFTs offers a new level of control and potential financial reward. Beyond the realm of art, NFTs can foster passionate communities, grant exclusive access to events, and even act as fundraising tools.
However, stepping into the world of token creation isn’t without its challenges. It demands both a technical understanding of blockchain technology and smart contracts, along with a careful consideration of financial risks and potential regulatory implications. Before diving in, it’s crucial to assess your goals, resources, and risk tolerance. While the possibilities are vast and exciting, responsible and informed action is key to navigating this rapidly evolving landscape.
NFTs, or Non-Fungible Tokens, are digital assets that represent ownership or proof of authenticity for specific items or content. Unlike fungible cryptocurrencies like Bitcoin or Ethereum, NFTs cannot be exchanged on a one-to-one basis due to their unique nature.
NFTs are typically created and traded on blockchain platforms such as Ethereum, Binance Smart Chain, and decentralized marketplaces like OpenSea. These platforms utilize smart contracts to establish ownership and enable transparent and immutable transactions for NFTs.
NFTs can represent a wide range of digital items, including artwork, music, videos, virtual real estate, and collectibles. Each NFT has metadata describing the item it represents and a unique identifier that sets it apart from other NFTs
The primary stage in the creation of NFTs involves identifying the content you wish to associate with your NFT. Consider the specific representation you desire for your NFT, whether it be digital artwork, collectibles, virtual real estate, or any other distinct digital item.
In this article, we will use illustrations from OpenSea to guide you on the steps you need to create your own NFTs. OpenSea stands as a leading decentralized marketplace built on the Ethereum blockchain, dedicated to NFTs. It creates a space where users can engage in buying, selling, and discovering an extensive array of digital assets, encompassing artwork, virtual real estate, collectibles, and more.
OpenSea delivers a user-friendly interface, showcasing a vast selection of NFT listings curated from diverse creators and projects. Through OpenSea, users gain the ability to explore the NFT community, partake in auctions, and securely manage their digital assets. With a commitment to fostering the expansion and accessibility of the NFT market, OpenSea ensures a seamless experience for enthusiasts and collectors alike.
This step-by-step guide covers how to create an NFT collection and mint directly to your wallet.
First, visit the original OpenSea website, and click on the “Login” button at the top to connect your preffered wallet.
To figure out the best wallet to use on the Ethereum network, check here.
Next, click on your “Profile Icon” at the top right of your OpenSea interface in order to deploy a smart contract and select “Studio” through the pop-up options.
To initiate the creation of a fresh NFT, simply click the “Create” button located at the top right corner.
When you explore the options, you will find the choice to either Drop a collection or Create/Mint an NFT. Selecting “Create an NFT”. This will enable you to mint an NFT directly into your wallet.
Once you proceed, a fresh “Create an NFT” screen will be presented. If you are using OpenSea Studio tools for the first time to create an NFT, select “Create a new collection.” You will be able to add one NFT to this collection initially, with the option to include more NFTs at a later stage.
After selecting “Create a new collection,” you will be guided through the steps on your screen to deploy a smart contract. This process will enable you to create NFTs for your newly created collection.
To customize your contract, you need to add a logo image, choose a contract name, and designate a token symbol. Additionally, you will need to choose an EVM blockchain. It’s important to note that deploying a smart contract incurs gas fees, and the estimated fees for each blockchain will be displayed. If the fees are higher than anticipated, you can revisit the process at a later time, as they are subject to change based on network activity.
When you are prepared, proceed by clicking on “Continue”. This action will prompt a transaction signature request in your wallet, which will necessitate gas.
Once the process is finalized, you will receive a confirmation message. Proceed to the next step by selecting “Create an NFT” as shown below. :
Having successfully created a smart contract, you are now prepared to generate an NFT. It is important to note that once your item is minted, further editing becomes impossible as it permanently resides on the blockchain. In this case, you will be creating an ERC-1155 NFT, which allows for the creation of multiple copies of the same item.
To begin this phase, upload the media for your NFT, which represents the artwork associated with it. Next, choose the collection in which you wish to mint your NFT.
Subsequently, provide a name for your item and set the desired item supply. The item supply determines the number of copies you wish to mint for the NFT. If you choose 1, then the item will be a one-of-one.
Next, click on the “Create” button at the bottom right, as shown in the above image. A loading message will appear as the item is being minted. To proceed with the minting process, you will need to approve the transaction using your wallet.
Congratulations! You have successfully minted your very first NFT!
Although NFTs and BRC-20 tokens have distinct functions and operate on separate blockchains, they both contribute to the growing realm of blockchain-based digital assets. NFTs have captured widespread interest for their exceptional nature and capacity to represent ownership of digital assets.
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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After a very dull performance over the majority of 2023, the Polygon PoS chain managed to gather considerable pace and demonstrate notable strength in the latter part of the year.
Data indicates that, in addition to the remarkable price performance of MATIC, the Polygon network’s native token, there was a lot of excitement surrounding Polygon’s NFT ecosystem in December of the previous year.
An increase in the overall number of NFT deals and an upward trend in NFT sales volume, especially during the past seven weeks, are indicators of this expansion.
On December 6, 2023, the spike peaked for six months, ranking the Layer-2 scaling solution third in terms of NFT sales volume, after Ethereum and Bitcoin.
NEW:
Polygon NFT sales volume is surging to levels not seen in over 6 months. pic.twitter.com/M4iWtRTDOe
— Today In Polygon (@TodayInPolygon) January 5, 2024
Polygon has sold nearly $10 million in a single day, according to CryptoSlam data. This is more than twice as much as Solana, which sold a little over $4.1 million.
Flippening began when Solana’s sales volume fell more than 17% in a day, whereas Polygon NFT sales volume increased by 42%.
NFT Collection Rankings by Sales Volume. Source: CryptoSlam
Today In Polygon, a popular X (formerly Twitter) handle, recently tweeted about blockchain’s rise in the NFT market.
According to the post, Polygon’s NFT sales volume was rising to levels not observed for more than half a year. This episode suggested a renewed interest in MATIC NFTs, which in the upcoming months may have a more significant effect on the ecosystem.
NEW: Polygon NFT sales volume has reached $47M in the month of December.
This is the highest monthly volume since February 2023. pic.twitter.com/tD6F8L6c2u
— Today In Polygon (@TodayInPolygon) December 31, 2023
Based on DappRadar statistics, the top Polygon NFTs during the previous 30 days were Genesis WildPas, Collect Trump, The Sandbox, and Gas Hero Coupon NFTs.
In addition, Polygon’s wash sales total is larger than Solana’s, coming in at $858,631 versus $175,493.
The entire sales volume, which includes both normal and wash sales, is $10,845,385 for Polygon NFTs and $4,292,160 overall.
MATIC market cap currently at $7.582 billion. Chart: TradingView.com
While this was going on, the token’s price chart turned green, encouraging MATIC bulls to pick up their game. MATIC has increased by more than 3% in the last day alone, according to CoinMarketCap.
With a market valuation of more than $8 billion, it was trading at $0.83 at the time of writing.
Even with these encouraging indicators, certain areas displayed unfavorable patterns, such as a decline in the graph of unique addresses and a drop in the quantity of transactions after a peak on December 25, 2023.
These inconsistent tendencies highlight the intricate mechanisms at work within the Polygon NFT ecosystem, despite the fact that the cryptocurrency market is infamously volatile.
Featured image from Freepik
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
YouTuber Logan Paul has announced a remedial move to reimburse disillusioned investors in his failed CryptoZoo non-fungible token (NFT) game, nearly a year after he pledged redress for the purchasers.
In a Jan. 4 post on X (formerly Twitter), Paul revealed the implementation of a “buy back” initiative, backed by his commitment of $2.3 million, which aims to repurchase Base Eggs and Base Animals at their original acquisition cost of 0.1 ETH between Jan. 4 and Feb. 8 through a designated website.
“This buy-back is a way for me to make whole those who intended to play CryptoZoo. The buy-back is not intended to compensate those who gambled on the crypto market and lost.
It’s important to remember that the Zoo Token was created to support the CryptoZoo game and its players; it was “not intended as an investment vehicle,” as outlined in the original WhitePaper,” He added.
However, submitting a claim entails forfeiting any potential lawsuit against Paul or his associates and relinquishing ownership of the respective NFT. It also requires users to acknowledge that the redemption is not “an admission of any responsibility” by Paul.
“By accepting these Terms, you acknowledge and agree that you are waiving any actual or anticipated claims against PAUL, as well as against any related personnel, affiliates, agents, partners, employees, service providers, or representatives, for monetary or equitable relief arising out of or in connection with CryptoZoo, including but not limited to this Buy-Back, your purchase of any $ZOO tokens, or your purchase of any CryptoZoo NFT.
You further acknowledge that the Buy-Back does not constitute an admission by PAUL of your legal entitlement to any amount, nor does it constitute an admission of any responsibility in connection with any actual or anticipated claims relating to CryptoZoo.”
It is worth noting that in the United States, consumer protection laws can override contractual waivers in certain circumstances, especially in cases involving fraud, misrepresentation, or other illegal activities. For example, if an NFT project were to be found to involve fraud, deception, or misrepresentation, consumer protection laws at both the federal and state levels can be applicable. This includes making false claims about the value, origin, or benefits of the NFTs.
CryptoZoo was a planned blockchain-based play-to-earn game with much promise launched in 2021. Users were required to mint the Base Egg NFTs, which would later hatch into Base Animal NFTs needed to access the platform and earn yield in Zoo tokens.
However, the project gained wide notoriety following Coffeezilla’s investigations, which claimed to expose it as a scam, triggering a crash in its NFT values and leaving investors with valueless tokens.
In response, investors filed a class action against Paul and his affiliates in Feb. 2023.
Amidst the turmoil, Paul attributed the project’s earlier collapse to malevolent actors who embezzled funds and sabotaged its progress. He has now filed a federal lawsuit in Texas against these actors, asserting himself as a victim of fraud.
The social media influencer further asserted that he spent $400,000 on developing the fame and claimed it was ready in early 2023. However, he said the game would not be released because “there are too many regulatory hurdles that would need to be cleared that I did not originally understand and would ultimately delay this buy-back even further.”
Final Fantasy game developer Square Enix has announced auction dates for its upcoming Symbiogenesis nonfungible tokens (NFTs). In a Nov. 24 social media post, the team said it would sell the NFTs in three batches. The first batch will be auctioned from Nov. 27 to 28, the second from Nov. 30 to Dec. 4, and the third from Dec. 2 to 3. Symbiogenesis is Square Enix’s upcoming blockchain game that features Ethereum-based NFTs.
Starting next week, it’s finally time for the start of the auction!
Phase 1: 11/27 12:00 – 11/28 11:59 (JST)
Phase 2: 11/30 12:00 – 12/1 11:59 (JST)
Phase 3: 12/2 12:00 – 12/3 11:59 (JST)More details herehttps://t.co/MFprrApwio#SYMBIOGENESIS
— SYMBIOGENESIS -NFT Art＆Game Project- | SQUARE ENIX (@symbiogenesisPR) November 24, 2023
According to the game’s documents, the first phase will include facet and mesh characters and will only allow “stakeholders” to participate. This seems to imply that only early investors will be able to participate in the Nov. 27–28 phase. The second and third phases will be available to participants in an “allowlist entry campaign,” the documents state.
The game’s team ran the allowlist entry campaign from Nov. 7 to 21. Collectors were asked to participate in a series of quizzes, as well as a “treasure hunt” that took place within a prototype version of the Symbiogenesis game world.
The participants earned NFT “relics” as a result of these activities, and they scored points toward participating in phase 2. The top 50 highest scores will be allowed to acquire NFTs in phase 2, as well as 40 random participants ranked 51st to 300th. The rest of the participants will be allowed to bid on items in phase 3.
Square Enix describes Symbiogenesis as a “narrative-unlocked NFT entertainment” game. It is scheduled to be launched on Dec 21.
Square Enix is the creator of the Final Fantasy series of games, which the company claims has sold over 173 million units. It launched Final Fantasy NFT trading cards on March 31. In April, the company announced it was partnering with Web3 infrastructure provider Elixir, although details of the partnership have been scarce.
The Chinese government released a statement on Nov. 10 declaring that anyone stealing digital collections, such as nonfungible tokens (NFTs), will be subject to theft sentences.
It outlines three views on the type of crime that theft of digital collections falls under, the first two classifying it as either data or digital property. However, the statement stresses that the third view, which sees digital collections as both data and virtual property, would fall under the umbrella of “co-offending.”
The statement explained that stealing a digital collection includes intrusion into the system on which it is housed, therefore also committing the crime of illegally obtaining computer information system data and theft.
“The theft of digital collections violates the protection law and interests of the crime of illegally obtaining computer information system data.”
It elaborates on this topic, naming digital collections “network virtual property” and stressing that in the criminal law context, “collections should be recognized as property.”
“Since property is the object of property crime, digital collections can obviously become the object of property crime. If the digital collection is stolen by intrusion into the system or other technical means, the act also damages the property law.”
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NFTs were specifically mentioned, establishing that digital collections are derived from the concept of NFTs “abroad” and use blockchain technology to “map specific assets” with “unique, non-copyable, tamper-preventing, and permanent storage characteristics.”
The declaration said that, although China has not opened the “secondary flow market” for digital collections, “consumers can rely on trading platforms to complete purchases, collections, transfers, destruction and other operations to achieve exclusive possession, use, and disposal capabilities.”
Despite China’s official ban from 2021 on nearly all crypto-related activity and transactions other than simply owning cryptocurrencies, there has been recent buzz surrounding NFTs.
A local Chinese media outlet reported on Oct. 25 that the Alibaba-owned peer-to-peer marketplace Xianyu removed its censorship of “nonfungible tokens” and “digital asset” related keywords in its search.
Prior to that, on Oct. 6 China Daily, an English-language newspaper owned by the Chinese government, announced that it wanted to create its own NFT platform and would award 2.813 million Chinese yuan ($390,000) to a third-party contractor to design the platform up to its specifications.
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The frontman of the popular virtual universe game Roblox, David Baszucki, said he “dreams” of having the ability to move nonfungible tokens (NFTs) and digital objects across multiple platforms.
Following the company’s Q3 2023 earnings call, Roblox founder and CEO Baszucki spoke about the role major influencers play in fueling the widespread adoption of NFTs and digital collectibles in a recent CNBC interview. He believes in the idea of users being able to move their collections across non-native platforms:
“There’s a bit of a dream here about objects and NFTs moving from platform to platform.”
For example, Baszucki stated that A-list celebrities such as Elton John could sign up on Roblox and make and sell limited edition collectibles like capes for charity. These types of collectibles could go off the Roblox platform as an NFT and could be sold in other marketplaces.
“What we do expect is that creators, whether it’s Elton John or Nike or someone else making a digital item, that they would play a key role and have a fair amount of control in that process,” Baszucki concluded.
Roblox’s latest earnings call revealed a loss in Q3; however, the company recorded a 20% year-over-year growth in booking estimates on higher in-game spending and the total number of users.
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Baszucki’s growing interest in NFTs resonates with overall market sentiment, with blockchain analytics company Nansen reporting a spike in November NFT sales volumes.
NFT volume for the past 5 weeks has been steadily increasing
The bottom was the week closing 9th Oct, where NFT weekly volume was 29,704 ETH, compared to last week, week ending Nov 6th, NFT sales volume reached 68,342 ETH
Slowly then suddenly…? pic.twitter.com/420fiRYw9e
— Nansen (@nansen_ai) November 6, 2023
In terms of NFT collections, Bored Ape Yacht Club had the highest trading volume in the last 30 days. The BAYC collection had a volume of 35,226 Ether (ETH), or around $66.7 million. NFTGo’s data also showed that there was a 12% increase in NFT traders during that timeline.
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Elon Musk criticized NFTs and offered a solution which seemed to praise Bitcoin Ordinals as they solve the problem the Tesla CEO highlighted.
X (formerly Twitter) Chairman Elon Musk recently spoke on a podcast deriding non-fungible tokens (NFTs). However, while speaking, Elon Musk seemed to unintentionally make a case for Bitcoin NFTs, known as Bitcoin Ordinals.
In a recent interview on The Joe Rogan Experience podcast hosted by comedian Joe Rogan, Musk said “the funny thing is the NFT is not even on the blockchain – it’s just a URL to the JPEG.” He then offered an opinion on how NFTs really should be:
“You should at least encode the JPEG in the blockchain. If the company housing the image goes out of business, you don’t have the image anymore.”
X users have responded with opinions on Musk’s comment. Many of them pointed out that the comments explain the use case for Bitcoin Ordinals, which are NFTs on the Bitcoin blockchain.
Developer Casey Rodarmor launched Bitcoin NFTs in January. These Bitcoin Ordinals are possible because of the Taproot upgrade implemented in 2021. However, Taproot did not enjoy much popularity until Ordinals.
One comment from crypto analyst Will Clemente mentioned Musk and seemed to promote Ordinals, describing the NFTs as “image/text inscriptions directly on the most secure open source monetary network on the planet.” Clemente added there are currently “38 million of these inscriptions” on the Bitcoin blockchain.
More reactions poured in, with an Ordinals developer known as “Leonidas” highlighting the difference between Bitcoin Ordinals and many other NFTs. Leonidas inscribed Elon Musk’s video saying NFTs are “not even on the blockchain” into the Bitcoin blockchain, essentially making it one of the Bitcoin Ordinals. y00ts and DeGods NFT projects creator Rohun “Frank” Vora then responded:
“This is why Ordinals will continue to grow. It’s the most elegant solution to one of the most universal criticisms of NFTs.”
Vora’s comment stands true, considering that the Musk comment is a criticism of NFTs. However, CryptoPunks NFTs creator Larva Labs moved tokens on-chain back in August 2021. In an official statement, Larva Labs said the move was necessary to ensure the “long-term survival” of Cryptopunks. The statement also added that the company wants to ensure that anyone with an Ethereum client can access a CryptoPunk NFT.
In May, only a few months after launch, Bitcoin Ordinals surpassed 10 million inscriptions on the Bitcoin blockchain. At the time, Rodarmor announced he would step down as the lead for the project, with pseudonymous coder Raphjaph taking over.
In July, Bitcoin Ordinals NFTs hit a new milestone, rising to more than 350,000 new inscriptions in one day. This was a 250% jump since Ordinals launchpad Luminex released the Bitcoin Request for Comment (BRC)-69 token standard less than two weeks earlier. The standard is a modified BRC-20 standard initiated to crash the cost of Ordinals inscriptions by more than 90%.
Many had criticized Bitcoin Ordinals for its inscription method, describing it as wasteful and inefficient. This is because of the transaction fees and block space required.
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Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
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For the most part, nonfungible tokens (NFTs) have two primary use cases: Buying and selling digital products (digital art, virtual fashion items) and building digital communities (exclusive memberships, access to events).
These use cases can be easily adopted by brands and companies, such as fashion brands selling digital clothes, various companies offering NFT-based club memberships and musicians holding exclusive concerts for their fans.
Traditional German companies are also jumping on the bandwagon, recognizing the potential of NFT technology to innovate and market their products and services.
Deutsche Post, the German postal service, will release its first limited-edition collectible stamp on Nov. 2, 2023. A classic self-adhesive stamp will come with a digital image — an NFT representing ownership of the stamp.
The first stamp features a pixellated image of the Brandenburg Gate generated by artificial intelligence (AI). Upcoming stamps in the collection will feature other iconic German landmarks.
It remains to be seen whether the NFT stamp collection will be a commercial success. However, it is a significant step for Deutsche Post, which is looking to expand its reach into the digital world.
Erste offizielle Deutschland-#Krypto–#Briefmarke kommt. Mehr: pic.twitter.com/XS4y5nkFCo
— Deutsche Post und DHL News (@DeutschePostDHL) October 12, 2023
NFTs can also be used for various loyalty programs, offering customers a more rewarding and engaging experience while providing businesses with a new way to connect with their customers and build brand loyalty.
An example of such a program is Lufthansa’s NFT loyalty program on the Polygon network. In collaboration with Lufthansa Innovation Hub and Miles & More, its frequent flyer program, Lufthansa has developed the Uptrip mobile application that allows passengers to turn their travel experiences into NFTs. These NFTs can then be redeemed for rewards such as mileage bonuses and business lounge vouchers.
Lufthansa’s @Uptrip_app loyalty program is building #onPolygon to turn flights into rewards
Collect NFT trading cards for every flight and claim rewardsLearn more about the new Miles & More and @LHInnovationHub experience: pic.twitter.com/JfUEoUJxNR
— Polygon (Labs) (@0xPolygonLabs) August 31, 2023
According to Christopher Siegloch, head of program development and services at Miles & More, the app has already generated significant interest among Lufthansa customers. Since its launch, over 20,000 users have registered, and more than 200,000 collectible cards have been issued. Siegloch highlights that gamification elements play a crucial role in introducing participants to Web3 technologies like NFTs, and the app successfully translates the enthusiasm for collecting into the digital realm.
Furthermore, in the second half of 2023, the app will introduce a digital marketplace where users can trade and sell their NFTs, with special NFT reward offers planned for the future.
NFTs are also reaching out to fashion brands. For example, German apparel company Adidas continues to refine its Web3 strategy by actively using NFTs to find new ways to engage with its community of athletes, sneakerheads and sports enthusiasts.
Recently, Adidas introduced a series of limited-edition NFT sneakers inspired by their iconic footwear designs. These digital sneakers can be showcased in virtual environments, allowing users to express their love for the brand in the metaverse.
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Adidas is also discovering new ways to use the full potential of NFT to encourage its community. The last example is The Adidas /// Studio, or Triple Stripes Studio, which launched a Web3-based digital artist-in-residency program to showcase and support budding creators in the NFT space. According to Adidas, the goal is to support and nurture creative talents in the digital realm, providing artists with an opportunity to showcase their work and collaborate with the sportswear giant. This collaboration extends beyond digital projects and may include physical products in the future.
Another German fashion brand, Hugo Boss, has also entered the NFT arena with a focus on fashion in the metaverse. The company collaborated with renowned digital fashion designers to create a series of exclusive NFT clothing items. These digital fashion pieces can be worn by avatars in virtual worlds, allowing users to dress in style even in the digital realm.
Mercedes-Benz boasts a rich history spanning more than 130 years, attracting a dedicated following of nostalgia enthusiasts and collectors. The brand’s iconic models, vintage cars and related artifacts, whether in their original form or as miniature models and toys, continue to hold appeal. In line with its strategic direction, the German automaker is venturing into the Web3 space through the launch of Mercedes-Benz NXT to enhance its engagement with the community.
In September, Mercedes-Benz launched its third NFT collection: The Era of Luxury. These collectibles created by Mercedes-Benz NXT Icons are digital reinterpretations of the most remarkable designs from seven design eras. The collection spans from the present day to the early history of automobiles.
1/ What a fantastic reveal on Wednesday! In this thread, we would like to show you a selection of combinations of the Mercedes-Benz NXT Icons from “The Era of Luxury”.
Let us start with Mercedes-Benz NXT Icons #41 collected by Pakwalker. ↓ pic.twitter.com/ogyubfA9M8
— Mercedes-Benz NXT (@MercedesBenzNXT) September 29, 2023
All three NFT collections show how Mercedes-Benz actively explores opportunities to blend the digital realm with automotive design. This endeavor is spearheaded by the brand’s chief design officer, Gorden Wagener, who guides the Mercedes-Benz design team in creating digital collectibles. The primary objective is to reinterpret the brand’s most iconic designs, presenting them in the digital format of NFT cards.
Ritter Sport, a German chocolate brand, also ventured into the NFT world by launching a limited series of digital chocolate bars as NFTs in August 2023. The NFT collection is called Art of the Square and consists of 256 digital pixel art pieces, each depicting a square Ritter Sport bar.
gm! Ganz im Sinne von Clara Ritter haben wir eine Kollektion an Digital Collectibles entworfen: „Art of the square“ geht am 23.08. um 16 Uhr in den Verkauf, die Allowlist ist schon online! Hier entlang: & https://t.co/WnzbYI3c71#web3 #digitalart #hodl pic.twitter.com/9gIEcKpkNe
— ClaraRitter.eth (@clararittereth) August 9, 2023
Not only Ritter Sport uses such creative marketing strategies to engage with a tech-savvy audience. Other German food brands have also released their NFT collections. For example, confectioner Katjes released its NFT collection of three unicorn babies named Dash, Willow and Sparkles in April 2023.
This was Katjes’ second NFT campaign after releasing a limited-edition collection of 777 unicorn NFTs in May 2022. Both campaigns were a way for Katjes to reach a younger audience, as unicorn babies are a popular character among children and teenagers.
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Haribo, a German confectionery company famous for its gummy bears, has also entered the NFT world. In April 2023, the company filed for NFT trademarks in the United States, indicating its plans to expand its brand into the digital world. The trademarks cover a wide range of digital assets, including digital avatars, multimedia files with confectionery-related artwork, cartoons and other items authenticated by NFTs.
German confectionery company #HARIBO has registered its name as a trademark for:
✅ Smartwatches
✅ VR Glasses
✅ Media verified by NFTs
✅ Jewelry and Toys… and much more!#NFT #MetaverseNFT #GoldBears #Trademark #Candy #NFTs #VR pic.twitter.com/y7WqNVJC7c
— Mike Kondoudis (@KondoudisLaw) April 26, 2023
Adidas, Haribo, Lufthansa, Deutsche Post and other traditional German brands have joined the growing list of businesses venturing into the NFT space. This expansion marks a significant shift in the perception of NFTs, as they are no longer viewed solely as a niche investment opportunity.
Instead, NFTs are increasingly being seen as a mainstream marketing tool and a way to experiment with new concepts that bridge the virtual and physical worlds and build new communities.