A couple of weeks ago, PepsiCo. dropped 1,893 NFTs to mark the brand's birthday (founded in 1893). And I know, that's a random anniversary (128th) to celebrate but I think they did it just because they want some skin in the NFT game. All but 50 NFTs were given away to fans who'd signed up to get them, they were given away for free and fans only had to pay for gas fees, while the remaining 50 will be held by Pepsi for future projects.
The 'Pepsi Mic Drop' waitlist opened on December 10 and the NFTs, created in partnership with VaynerNFT, were dropped four days later. I haven't checked, but I'm 100% sure that those NFTs probably went up in value and beside that, it tells us that legacy brands have a strong interest in the growing market, and it makes it easier (for them) that they have a resounding name to bank on.
What do you think? Is this a bubble waiting to burst, or is this just the start? Let me know what you think in the comments.
I've crossposted this article on FT as well as on my blog Bitcoinea
