NFTs are starting to come back!
This time, Coca-Cola, the largest soft drink company in the world by far, is at the forefront.
This collection already looks like it's going to be a massive hit, and the soft drink company has even partnered with Coinbase.
It's not every day you see such an unusual alliance.
Both of these giants are partnering on what they call an "Onchain Summer" event and will be releasing the new NFT collection to celebrate the launch of something big on Coinbase.
In this article, we will delve into the details of the latest updates about Conbase and Coca-Cola's partnership, and everything you need to know.
Read on, will you?
Recall that Coca-Cola held an NFT auction sometime in 2021 to celebrate International Friendship Day in July.
The auction included unique digital collectables that "re-imagined some of Coca-Cola's iconic assets for the metaverse, with each NFT inspired by shared moments of friendship."
And at the end of the day, the auction raked in more than half a million dollars.
This time around, Coca-Cola is back again, two years later, with another similar project.
According to an announcement tweet sometime on August 13th, Coinbase announced a new collaboration with Coca-Cola.
And just like the previous event in July 2021, the announcement mentions that this new NFT collection will bring Coca-Cola's "global masterpiece campaign" to the blockchain.
This collection will feature "iconic works from leading artists" the announcement said.
Some of these art pieces include the "Girl With a Pearl Earring" by Johannes Vermeer from 1665, and "The Scream" by Edvard Munch from 1893.
The hype on NFTs appears to have gone down since the bear market started a few years ago.
However, one has to admit that the hype helped a lot of people make a ton of money while it lasted.
One of these people is the Canadian musician and producer, Grimes. In a recent interview with Wired, the music star admitted that an NFT collection she released sometime in 2021 made her more money than she had made across her entire music career.
According to reports, Grimes made almost $6 million in income by selling her "War Nymph" NFTs on Nifty Gateway, during the 2021 hype cycle.
It turns out that Coca-Cola isn't the only consumer company that is taking web3 and NFTs in particular seriously.
This time, the news is about Reddit's Collectible Avatars.
According to a recent tweet from NFTGators and Dune Analytics, since the collection's inception in 2022, more than 20 million Reddit Collectible Avatars have been produced.
The tweet mentions that the NFTs are stored in almost 16.1 million different wallets, of which more than 2.2 million have several avatars.
Dune analytics also mentions that the overall sales transaction volume of Reddit's Collectible Avatars NFTs has surpassed $40 million.
NFT sales and revenue may have tanked over the last two years. However, the hype appears to be coming back as the next bull market draws closer.
Now may be the best time to get informed about the latest trends in web3, to be properly poised for a profitable 2024.
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