Parker Herren, Ad Age April 7th, 2022
Ad Age’s Top 5 NFT spinoff transforms as brands expand the scope of their virtual ventures from non-fungible tokens to larger efforts within the burgeoning metaverse.
This month: virtual goods for good causes, reality NFTelevision and metaverse events online and on land.
No. 5: Budweiser: #NFTBeerfest
Wondering when all these NFTs are actually going to start paying off? Budweiser showed off the benefits of owning one of its non-fungible tokens last month, holding #NFTBeerfest on March 27. Hosted at its flagship brewery in St. Louis, guests redeemed their “Royalty Collection” or “Heritage Can” NFTs (remember, the ones that sold out in under an hour last year for $499-$999 a pop?) for an evening of food, live music, giveaways and custom cans featuring imagery you might recognize from the brand’s Super Bowl partnership with Nouns DAO.
No. 4: Mac Cosmetics: Keith Haring
Mac Cosmetics has teamed with the Keith Haring Foundation to launch a line of NFTs inspired by the late artist, in honor of National Youth HIV/AIDS Awareness Day on April 10. The line will feature 5,275 tokens featuring three digital works, ranging in rarity based on tiers priced from $25-$1000 each. All proceeds from the auction will go to Mac Viva Glam, a nonprofit committed to raising awareness around HIV/AIDS. This Friday, the company will host a talkback on Twitter featuring representatives from Mac and blockchain software company Consensys.
No. 3: Crypto.com: The Art of Giving
Amidst a chaotic Academy Awards broadcast, a somber ad from Crypto.com grounded the starry ceremony in the reality of global events. The spot featured the tagline “In Ukraine, the basics are now essentials” and linked viewers to a donation page for the Red Cross Red Crescent (RCRC) movement, a global humanitarian initiative. The ad was accompanied by an NFT collection called “The Art of Giving,” featuring 40 NFTs of peace-themed art. All proceeds from the auction also benefited RCRC.https://imasdk.googleapis.com/js/core/bridge3.509.0_en.html#goog_207099018Play VideoPlayMuteLoaded: 98.88%Remaining Time -0:30ShareFullscreen
No. 2: Wonderfuel
Just when one thinks they understand the spectrum of NFT capabilities, NFT reality TV is announced. Bunim-Murray Productions, the group behind “Keeping Up with the Kardashians” and MTV’s “The Real World,” announced a partnership with tech production group Virtual Arts to form Wonderfuel, a company with ambitions set on forming a roster of NFT-funded and interactive unscripted series. It sounds like Bravo’s “The Singles Project,” a short-lived 2014 experiment in which viewers could vote on what each single would do in the next week’s episode, but with Web3 capabilities. Wonderfuel’s website is bare except for the tagline, “elevate your reality,” and a space to sign up for updates.
No. 1: Metaverse Fashion Week
Speaking of experiments, last month was the first Metaverse Fashion Week. The four-day event was hosted in Decentraland with pop-ups from designers Tommy Hilfiger, Dolce & Gabbana, Fred Segal, Perry Ellis America, among others, complete with runway shows, panels and parties. Users were able to view virtual lines from the fashion brands and purchase both digital and physical versions of the apparel. Feedback has been mixed, with some noting the technical limitations of the early stages of metaverse graphics. But many applauded the brand’s efforts to experiment with new ways to connect with younger audiences. The event saw 108,000 unique attendees, according to Vogue Business.
“This is indeed about testing and learning. The beauty of virtual environments is that on both product and VM sides we can try new things,” Martijn Hagman, CEO of Tommy Hilfiger Global and PVH Europe, told Forbes. “We are experimenting with how these elements and environments can co-exist to provide a seamless consumer journey, for example, a fully digital experience, or selling physical products in the virtual environment and vice versa. These learnings will allow us to enhance future activations and to evolve our digital ecosystem.”
Credit: Tommy Hilfiger
