Industry News

Fast food restaurants launch NFT collections

TL;DR Breakdown

• McDonald’s is among the last fast food companies to create their own NFTs.
NFT trading brings many profits to multinational companies.

The NFTs have dominated several categories, and have also infiltrated fast food, with several companies releasing their virtual pieces. Some companies such as Burger King, Taco Bell, or the multinational chain McDonald’s have dabbled in this new auction method attracting many people.

Everything indicates that the non-fungible token auctions could potentially improve the profits of these food chains, and they are going nowhere anytime soon. These companies also use the NFT trade to advertise themselves while making extra money by selling their collectibles.

The NFT market in fast food chains

Since last year, the non-fungible token market has gained importance for artists and apparently for fast food chains. Companies like Taco Bell had benefited from this virtual trade when in the first quarter of the year, they offered their NFT pieces, making them the first food company to venture into the virtual market.

In this auction, the company showed its Taco-Art piece valued above 10 Ethereum, corresponding to over $40000. After this great presentation, the US firm said that most of its profits went to NGOs.

But companies like Burger King dabbled in the NFT trade weeks after the Taco Bell announcement. The fast-food firm launched its collectibles “Keep it Real Meals,” which, after purchasing the 3 NFTs, enthusiasts could have an annual bonus on hamburgers.

Pizza Hut has also participated in these NFT auctions with its “Favorite 1-B” project. The company announced its first and only collection of non-fungible tokens in March, and it was a success.

Finally, this new wave of auctions convinced McDonald’s and launched a project with over 180 NFTs available. The NFT plan of the most valued multinational chain was named “Big Mac Rubik’s Cube” in honor of the new franchise in the heart of China.

Marketing campaigns with NFTs

Multinational fast food companies have been experimenting with NFTs for their accessibility in marketing campaigns. These companies have understood that auctions with non-fungible tokens are a priority because of the attention it attracts in people. Considering that most people understand what an NFT is or how important it is to have them at this point in the year.

Fast food companies will continue to dabble in these virtual auctions until they are no longer relevant from one moment to the next. But according to studies, NFTs have a good future ahead of them. This alternative market to cryptocurrencies could be part of the new reality, leaving traditional auctions behind.

Most of these NFT pieces have been auctioned on websites like OpenSea, so enthusiasts should be on the lookout for new collections being released.

This post was last modified on October 23, 2021 9:48 pm

Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

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