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Burger King’s NFT Strategy has Progressed from Stunts to Genuine Engagement

Customers can scan QR codes to obtain collectible game pieces that can be used toward other rewards as part of the celebrity-backed Keep It Real Meals.

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As part of its promotion around the deletion of 120 artificial chemicals from its menu, Burger King unveiled its Keep It Real Meals this month, which are personalized orders crafted by a trio of celebrity ambassadors under their real names.

To further the effort, the fast-food restaurant collaborated on a set-completion game with nonfungible token (NFT) marketplace Sweet, intending to elevate the technology from a digital art-based marketing stunt to a platform for consumer interaction. According to facts revealed with Marketing Dive, guests can scan a QR code on each Keep It Real Meal box to obtain one of three aggregate NFT game pieces. After collecting the entire set, customers are given a fourth NFT, which might be a 3D digital collectible, a year of free Whopper sandwiches, autographed items, or a chat with one of the campaign’s celebrity ambassadors.

Sweet founder and CEO Tom Mizzone remarked, “We’re taking a more enterprise solutions-based approach to NFTs. So how do you enable marketers to move beyond crypto art drops and into consumer experiences?”

The Keep It Real Meal, unlike the auctions of goofy digital art that became the de rigueur way for corporations to weave NFTs into their marketing earlier this year, NFTs allow Burger King and Sweet to employ the blockchain-based technology in a long-term, permanent fashion. As a result, the NFT is a virtual gift with all of the digital world’s applications rather than a physical toy in a food box.

“We’ve invested a lot of technology into really helping companies to go that next step, whether it’s combining it with loyalty systems, games, or consumer experiences that promote engagement like we’re doing here,” he said.

Burger King’s NFT push comes just weeks after the firm launched its Royal Perks reward program across the country, demonstrating the chain’s commitment to digital platforms, which have grown increasingly important as the technology continues to disrupt and accelerate consumer trends. In addition, Burger King unveiled its first revamp in more than 20 years at the start of 2021 to demonstrate its dedication to “digital-first expression.”

The metaverse and NFTs

As marketers experiment with the technology and platforms like Facebook’s acceptance of the “metaverse,” the merging of the physical and digital worlds, several novel applications of NFTs have begun to crystallize. For example, Coca-initial Cola’s NFT includes items that can be “worn” in the 3D virtual reality platform Decentraland, indicating that some significant marketers are paying attention to the metaverse usage of NFTs. However, according to a new Wunderman Thompson Intelligence analysis, only 38% of worldwide customers are aware of the notion of the metaverse, posing challenges for brands trying to leverage the technology.

“Before any of this can have widespread adoption, you have to make it easy for a bigger consumer base,” Mizzone noted. “If you can break down those boundaries and demystify what it means to collect and possess an NFT, that opens up a lot more possibilities.”

These broader applications could present a huge potential for organizations to generate additional income by engaging their customer groups, as Burger King has done with its gamified experience. In addition, the metaverse’s expansion of digital assets could also let marketers engage with customers without relying on the large platforms that currently dominate digital advertising.

“We strongly believe in open economies rather than gated gardens. The more people that are playing in the same vein, where items can readily travel between metaverses [or] games, the more exciting it becomes for consumers and companies, “ Mizzone explained.

While brand adoption of NFTs is still relatively new, technological advancements and cultural change have already made the one-off NFTs that companies published earlier this year feel old. The technology, according to Mizzone, is comparable to the internet itself.

“We were all surfing the web’ on Netscape Navigator when I began my first firm in 1995, and we were all like, ‘Oh, my my, the internet’s come.’ What could it possibly become?’ With NFTs, we’re only scratching the surface, and we want to be pushing the boundaries on how we can empower companies and customers with this technology.”

ART & COLLECTABLES

Why Did an Investor Spend $170,000 on a CryptoPunk NFT?

In a recent interview, NFT collector “Gmoney” explained why he spent so much money on “a 24 × 24 pixel image.”

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In January, the anonymous NFT collector “Gmoney” spent $170,000 on a CryptoPunk NFT.

In January, a “Puerto Rico-based, karaoke-loving investor” purchased a CryptoPunk NFT for 140 $ETH (approximately $170,000 at the time). This move was dubbed “a flex” by Gmoney. “A general partner of Delphi INFINFT, a fund formed with crypto research and investment firm Delphi Digital that is focused on investing in NFT initiatives,” according to Gmoney.

Gmoney stated why he had spent so much money on the rare NFT in the following way:

In the real world, people do not pay thousands of dollars for a Rolex because of the watch’s practical value. A $5 watch might be used for the same purpose. It’s to ‘flex’ their social standing. I can easily ‘flex’ with an image by using an NFT as my avatar on Twitter and Discord.

Owning an NFT, according to Gmoney, has the same effect as wearing a Rolex in person, “but digitally.” He went on to say that owning a digital collectible also meant being a part of the NFT and crypto communities:

It’s natural to want to be a part of something and to want to be a part of a group, especially when their values are aligned.

Cooper Turley, well-known crypto and NFT investor, agreed that the developing NFT community was the “single most important component” of digital collectibles, telling CNBC that it was the “single most valuable aspect” of digital collectibles:

The most valuable component of NFTs is the community… NFTs are worthless without a community. The strength of an existing community, or the possibility for one to grow, is the primary basis of my NFT investment thesis.

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ART & COLLECTABLES

NFTs for Good Causes will be Showcased at a Hong Kong Event

The usage of digital tokens to advance UN sustainability goals is demonstrated at an NFT art exhibition.

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Christie’s auction house sold a non-fungible token (NFT) image of a green-faced pixel avatar known as ‘Cryptopunk 9997’ for roughly US$4.3 million. Investors and collectors are currently interested in all types of NFTs, whether a simple pixel avatar or a finely crafted digital work of art.

NFTs are proven to be successful digital assets in various areas, including gaming, entertainment, and real estate. But, on the other hand, some people are starting NFTS to support issues like the environment and local communities.

By displaying NFTs for good, a new NFT exhibition in Hong Kong hopes to pioneer that positive spirit. The ImpactNFT Exhibition, which opens this Friday, will allow collectors and NFT aficionados to view and purchase digital artworks based on the United Nations’ 17 Sustainable Development Goals, including climate action, equal access to education, and gender equality.

Genesis Drop is one of the NFT artworks from Project Ark that will be on display during the show, and Romanian culture’s hand-painted eggs inspire it. In addition, project Ark, a carbon-neutral NFT marketplace, donates half of all earnings from Genesis Drop to the WWF in Romania, which is working to return the endangered European Bison back into the wild.

“By creating a win-win for artists, charities, and our partners, we want to show Hong Kong and the rest of the globe the power of NFTs for social and environmental impact,” said Roy Weissbach, Project Ark’s business development advisor.

NFTs from Earth.Org and the charitable art organization Sovereign Art Foundation will be on display, as will artwork by VintageMozart in support of the Nashulai Maasai Conservancy in East Africa NFTs minted for charity by eight Mexican artists.

The South China Morning Post (SCMP), based in Hong Kong, will also highlight its upcoming NFT auction in support of Operation Santa Claus (OSC), including new works by Hong Kong’s iconic visual and performance artist Frog King. SCMP and Radio Television Hong Kong (RTHK) run Operation Santa Claus every year to raise funds for a local charity.

Aside from displaying NFT artworks, anti-wildlife trafficking organization Break The Chain will host an augmented reality (AR) demonstration produced by gaming and entertainment metaverse portal The Nemesis.

In support of the ImpactNFT exhibition, RioDeFi’s chief marketing officer Stephane Villedieu said,

“The world already knows that blockchain technology provides a decentralized infrastructure for a more transparent, safe, and efficient financial system.”

ImpactNFT Alliance, in collaboration with Project Ark and Sovereign Art Foundation, will curate the exhibition, which will run from October 15 to 24, at the Soho House Hong Kong. Online viewers can watch the show at OpenSea.io, Project-Ark.co, and ImpactNFT.org.

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ART & COLLECTABLES

Shiba Inu Announces an NFT Sale

The $SHIB coin’s developers have announced the launch of a non-fungible token (NFT) sale.

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Shiba Inu announced the launch of an NFT collection called “Shiboshis” in a recent Medium post. The subject of the NFT collection will be similar to that of the SHIB coin, highlighting the coin’s tongue-in-cheek nature.

According to the article, 10,000 Shiboshis will be created for the debut, which will happen this week. Users will acquire NFTs using $LEASH for the first 24-hours, then with a mix of $ETH and $LEASH after that.

According to the post, the first purchase will be made through the ShiboshiSwap website, customized to sell Shiboshis. After that, users will be able to transfer and exchange their NFTs on secondary markets like OpenSea.

The NFT collection will first be sold in tiers, with prices doubling when the first 3,000 Shiboshis are sold.

According to the report,

“Shiboshi costs are based on tiered pricing. The first 3,000 Shiboshis will cost 0.1 Eth (BUT must be purchased in Leash for the first 24 hours). Shout out to XFund once again providing an incredible Oracle to help with this calculation. The next 5,000 Shiboshis will cost 0.2 Eth (in Leash for 24hrs) and the final 2000 Shiboshis will cost 0.3 Eth (in Leash for the first 24hrs).We don’t expect that floor to last for long.”

According to the post, users will be able to rename their Shiboshis with $SHIB, with the spent funds resulting in a coin burn.

The report continues,

“Initially [Shiboshis] just have generic names like 00001, but you can name it Flytoshi Kahn or whatever you like for an additional fee of $100 paid in Shib. Whenever the name is changed, these funds are burnt to the Shib burn wallet. If everyone names their Shiboshis that will be a $1 MILLION dollar burn.”

Shiboshis will eventually be converted to characters in the Shiboshi game, allowing users to deploy their NFTs in strategic gameplay, with each having the potential for unique qualities, according to the blog post.

The Shiba Inu team posted a video yesterday explaining how individuals can purchase $LEASH tokens:

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