Wednesday, January 26, 2022
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The biggest consumer brands that engaged with crypto in 2021

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2021 was an thrilling yr for crypto, with a number of well-known — some sudden — manufacturers coming into the crypto sector. Right here’s you, Charmin, and your bathroom paper nonfungible tokens (NFTs). The yr noticed its justifiable share of moments that had crypto lovers on the sting of their seats.

Whereas many individuals continued to speak typically in regards to the revolutionary energy of cryptocurrencies and blockchain, it appears as if 2021 was the yr when the concepts underlying these applied sciences really took maintain of the consciousness of the mainstream. From NFTs to Web3, there has by no means been extra curiosity expressed from conventional gamers in relation to this fast-expanding ecosystem.

Listed here are a few of the greatest strikes made by main shopper manufacturers to interact with and undertake numerous crypto-centric applied sciences — be it merely shopping for Bitcoin (BTC) or releasing an NFT assortment. 

Tesla makes waves by shopping for Bitcoin

No checklist of this nature will be full with out mentioning the information that in all probability acquired most of in the present day’s youthful — and certain older, too — crypto traders within the area. In February, Elon Musk’s Tesla made a bombshell announcement, revealing it had invested a whopping $1.5 billion {dollars} in Bitcoin. This was practically 8% of Tesla’s $19 billion money and money equal reserves, the quantity it held in line with a 2020 Securities and Alternate Fee submitting.

As quickly as Musk made his foray into the world of cryptocurrencies, the worth of Bitcoin shot up meteorically — rising from $38,000 to over $57,000 inside roughly two weeks. Not solely that, however over the course of the yr, Musk revealed to the world that he had additionally made sizable acquisitions of different belongings like Ether (ETH) and Dogecoin (DOGE), though he didn’t disclose the precise quantities.

Dallas Mavericks begin accepting Dogecoin

One other resolution that had crypto traders all around the world fairly intrigued was Mark Cuban’s transfer in March to permit followers of his NBA franchise, the Dallas Mavericks, to buy tickets and other licensed merchandise utilizing Dogecoin, the favored meme cryptocurrency. And whereas the transfer got here as a shock to some, for these following the crypto market intently, the choice was utterly consistent with Cuban’s all-encompassing imaginative and prescient for the fledgling altcoin sector.

Over the course of 2021, Cuban repeatedly referred to himself as an “Ethereum maxi,” claiming that the blockchain’s fast-expanding ecosystem might simply be one of the biggest tech revolutions of the twenty first century. He additionally publicly hailed Dogecoin as a superior medium of alternate than Bitcoin. 

Nike enters the Metaverse

In December, sportswear producer Nike made its crypto debut by revealing its acquisition of digital sneakers and collectibles model RTFKT. On account of the partnership, Nike formally grew to become the most important producer of athletic-based items inside the USA and one of many first big-name attire manufacturers to enter the burgeoning Metaverse ecosystem.

Nike CEO John Donahoe said that the corporate will be capable to “serve athletes and creators on the intersection of sport, creativity, gaming and tradition” and “lengthen Nike’s digital footprint and capabilities.”

Adidas refuses to be left behind

Across the similar time as Nike’s aforementioned transfer, Adidas introduced that it was entering the Metaverse in collaboration with plenty of distinguished NFT initiatives, together with Bored Ape Yacht Membership, Gmoney and Punks Comedian. 

The primary enterprise featured items of the Bored Ape NFT household redrawn to characteristic Adidas’ iconic tracksuit. In the meantime, the Gmoney tokens had been designed to leverage the affect of the distinguished NFT proponent, who was not too long ago featured on Fortune NFTy 50. 

Adidas’ Punks Comedian NFTs sought to carry collectively the world of nonfungible tokens and bodily comedian books to create a novel providing of so-called crypto comics.

Clinique launches NFT-based buyer loyalty program

Estée Lauder-owned cosmetics model Clinique released choose NFTs final yr to assist enhance the efficacy of its present buyer loyalty system in addition to add extra advertising and marketing weight to its present line of merchandise. 

The distinguished magnificence model allowed purchasers signed up for its rewards program to acquire these collectibles by merely sharing their “tales of optimism” through Instagram, TikTok and Twitter following a major buy.

Coca-Cola’s novel NFT program

Final yr, one of many world’s most recognizable model names, Coca-Cola, released a special NFT program to lift cash for Particular Olympics Worldwide.

As a part of the charitable effort, digital collectible market OpenSea hosted the public sale of Coca-Cola’s NFTs over a three-day interval from July 30 to Aug. 1. The NFT collections had been devised along with famend digital artist and designer Tafi.

Luxurious public sale home Sotheby’s accepts cryptocurrencies

Sotheby’s, one of many world’s most well-known public sale homes, introduced on Could 4 that it will accept Bitcoin and Ether bids (along with conventional fiat ones) for Banksy’s well-known art work “Love Is In The Air” as a part of its “Up to date Artwork Sale” exhibition, making it the primary main public sale home to simply accept digital currencies for bodily items of artwork. 

Earlier, in April, Sotheby’s launched an NFT assortment titled “The Fungible” created by digital artist Pak. Every of the collectibles was offered through NFT platform Nifty Gateway.

Asics cashes in on the worldwide NFT mania 

July noticed main sports activities attire model Asics launch its first NFT assortment, “Dawn Purple,” to the plenty. A complete of 189 collectibles spanning a complete of 9 completely different Asics digital footwear merchandise — together with a few of the firm’s hottest types, similar to Gel-Lyte III, Gel-Quantum 360 and Metaracer — had been made obtainable to clients.

The corporate revealed that proceeds from the public sale could be poured proper again into the Metaverse through its Digital Items Artist-in-Residence Program, which has helped facilitate numerous collaborations between the corporate and plenty of established and rising digital artists to design its subsequent wave of NFTs.