Budweiser, one of the largest-selling beers in the United States, has hopped on the NFT train with the purchase of the “beer.eth” Ethereum domain name along with a piece of a non-fungible token (NFT) art.
According to records from NFT marketplace OpenSea, the beer maker spent 8 Ether (roughly $25,704) on an NFT bottle rocket from the Tom Sachs Rocket Factory Collection. The company changed its official Twitter (NYSE:TWTR) profile picture to the Budweiser-themed rocket on Monday evening, suggesting that it has bought the NFT. As of press time, Budweiser’s 224,900 followers could still view the image.
The same address that bought the NFT art also recently purchased the ENS domain “beer.eth” for a whopping $100,000 (30 ETH).
For clarity, ENS stands for Ethereum Name Service. The new naming protocol is more or less the blockchain equivalent of the commonly used Domain Name System (DNS). It allows users to register custom websites or wallet names on the Ethereum network. And just like regular domain names that can be bought and sold on the internet, ENS domains can be purchased or sold as NFTs.
Apart from the “beer.eth” domain, it appears Budweiser also purchased the “beyondbeer.eth” ENS domain.
Budweiser’s latest foray into the NFT space comes just days after multinational payments giant Visa (NYSE:V) announced that it had spent $150,000 on a CryptoPunk.