Now even the biggest corporations are trying to harness the potential of blockchain – NFTs in particular. The latest to jump into the market is Coca Cola with an NFT for charity purposes. Coca-Cola is now planning to raise funds for Special Olympics International through a collection of nonfungible tokens (NFTs).
Opensea, an NFT marketplace, will be hosting a three-day auction starting July 30. The NFTs are inspired by video game loot boxes and have hidden surprises. It will be available to only those who purchase the artwork that has been created in partnership with digital designer Tafi.
“Each NFT was created to celebrate elements that are core to the Coca-Cola brand, reinterpreted for a virtual world in new and exciting ways,” said Coca-Cola Trademark president Selman Careaga.
Coca-Cola has said that the funds raised from the NFT sales will be donated to Special Olympics International which is an organization that is combating discrimination against people with special needs.
The fact that Coca-Cola is relying on blockchain-based non-fungible assets to raise funds is great news for NFTs and the blockchain industry. We could soon be witnessing more such use cases of the promising blockchain technology endorsed by top brands.