The Biggest Consumer Brands that Engaged in Crypto

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A number of well-known and unexpected businesses have ventured into the crypto market in 2021, making it an interesting year for the industry. There were lots of instances throughout the year that kept crypto aficionados on the sting of their seats. If you are interested in bitcoin trading, visit Crypto Trading Robot.

A lot of people have continued to preach about the transformative power of blockchain and cryptocurrencies. However, it seems that the idea that drives this technology became more public and received wide acceptance last year. Traditional players haven’t been more fascinated by this fast-growing ecosystem, ranging from Web3 to NFTs.

Below are some of the crucial steps carried out by giant firms to implement and engage with various crypto-related technologies, be it as simple as buying Bitcoin or initiating an NFT collection.

Tesla develops a buzz by acquiring Bitcoin.

No list of this kind would be complete without including the news that piqued the curiosity of younger and presumably older cryptocurrency traders. Things began to change for the crypto industry from February 2021 when Tesla declared it has invested approximately $1.5 billion in Bitcoin. According to the Securities and Exchange Commission (SEC), Tesla’s investment at that time was roughly 8% of Tesla’s total $19 billion cash reserves.

Bitcoin’s price skyrocketed after Tesla’s announcement as the digital coin surged from $38,000 to nearly $57,000 in the space of fewer than two weeks. That’s not all, Tesla’s CEO, Elon Musk, further revealed that he has invested significant amounts into other crypto assets like Dogecoin and Ethereum.

The Dallas Mavericks have begun to accept Dogecoin.

The decision by Mark Cuban early last year to enable fans of his NBA team, the Dallas Mavericks, to buy tickets as well as various items using Dogecoin, allured a lot of investors across the globe to venture into the crypto sphere. While the move surprised some, it was exactly in line with Cuba’s bigger vision for the ensuing and growing altcoin sector.

Nike propels its first move into the Metaverse.

Nike ventured into the crypto space late last year when it announced the acquisition of virtual footwear and collectibles firm RTFKT.  As a result of this collaboration, Nike came to be the top manufacturer of athletic-based items in the U.S. That’s not all, the company has also become one of the initial giant apparel firms to enter into the emerging Metaverse ecosystem.

John Donahoe, Nike’s CEO has asserted that the business can now “assist creators and athletes at the nexus of sport, gaming, creative, and culture,” as well as “expand Nike’s digital reach and capabilities.

Adidas refuses to be left behind

Around the same time as Nike announced its foray into the Metaverse, Adidas announced a partnership with a number of notable NFT ventures, including Bored Ape Yacht Club, Punks Comic, and Gmoney.

In the first collaboration, pieces from the Bored Ape NFT collection were repainted to showcase Adidas’ renowned tracksuit. Punks Comic NFTs, a novel offering from Adidas, aimed to blend the worlds of nonfungible tokens and actual comic books to provide a unique offering known as crypto comics.

Coca-groundbreaking Cola’s NFT program

One of the renowned and well-recognized brands, Coca-Cola has established a unique NFT initiative to help raise funds for the Special Olympics International

A three-day auction of Coca-NFTs Cola’s from July 30 to August 1 took place on OpenSea. All this was undertaken as part of the philanthropic attempt.

The NFT collections were created in collaboration with Tafi, a well-known designer and digital artist.

This wave of cryptocurrency embrace didn’t end there; other major corporations followed suit.

A high-end auction house Sotheby’s jumped on board the cryptocurrency bandwagon in May, announcing that cryptocurrencies would be accepted as a form of payment.

Asics capitalized on the global NFT craze by releasing its first NFT collection, “Sunrise Red,” to the general public in July.

Last year, Clinique, a cosmetics business owned by Estée Lauder, developed an NFT-based customer loyalty program to help improve the performance of its existing customer loyalty system and add more marketing value to its existing line of items.

Let’s see which new mainstream brand enters the fast-expanding crypto sector this year, now that 2021 is over.