001: Introducing Brands on the Block!

Around the block…

• Coca-Cola: Launched its eight-piece ‘Masterpiece’ interactive NFT collection on Coinbase’s Ethereum Layer 2 chain, Base. The collection has no communicated utility, yet sold over 65,000 pieces with ~14.7 ETH (~$27,000 USD) in total volume as of late Thursday (Onchain Summer).

• McDonald’s: Will drop 2,000 free soulbound Polygon NFTs in Singapore through their mobile app. NFTs will unlock exclusive treats (Decrypt).

• Crocs: Is partnering with Doodle’s to offer exclusive shoes, wearables, and ‘kibbitz’ charms coming later this month (Doodles’ X).

What is…?

• Soulbound Token: A non-transferable NFT that is bound to an individual wallet address. Since they cannot be moved, they can be used as digital verification, helping to prove someone’s identity or qualifications.

Chain Reactions!

• International Focuses: I’ve noticed a trend of global companies focusing their Web3 efforts outside of the U.S. - see McDonald’s above, Foot Locker’s Virtual Stripes loyalty program, etc. It would be interesting to understand if this is regulatory, a testing strategy, or if other audiences show more readiness for these technologies. What are your thoughts?