Howdy, everyone. Matt here.
Many people think NFTs are just some funny underground memes made for random traders on the internet.
But NFTs have gone mainstream. Blue-chip companies, fashion houses, and sports stars are taking advantage of the hot new digital-art trend.
And one major tech player just went all-in on NFTs. This could mean major user adoption in the foreseeable future.
Could it spark more trading volume for independent NFT projects as well?
Let’s take a look at how NFTs are diving into the big names, and what traders like us should watch…
7 Major Brands Adopt NFT Technology
1. Instagram (NASDAQ: FB)
Mark Zuckerberg, CEO of Meta Platforms Inc., made a major announcement at the popular media and music festival SXSW earlier this week.
Instagram will adopt NFTs on its platform – the media-sharing app has 1.386 billion active users.
Zuckerberg said NFTs will make it to Instagram in the near term. Users will soon be able to bring their existing NFTs onto Instagram and potentially mint new NFTs from inside the app in the future.
He envisions a future where you can take the clothing off your avatar’s back in the metaverse, mint it as an NFT, and take it with you to another virtual space. But he admits, technology has some catching up to do before that can happen.
This could make digital fashion NFTs a hot commodity. Avatar NFTs like CryptoPunks and Meebits are currently some of the most profitable NFTs. But apps like Instagram are known for their fashionista and other retail accounts. Keep your eyes peeled for clothing lifestyle decor NFT projects with potential.
2. Gucci (OTCMKTS: PPRUY)
Speaking of clothing, Gucci’s been strutting through the metaverse for a while and its latest collab is with 10KTF, an NFT project that includes a virtual floating “New Tokyo” world, fashion accessories for purchase by profile picture NFT owners, and a fictional character called Wagmi-San (a play on an internet phrase “we are all going to make it”).
The NFTs, called Gucci Grail, will be released on March 23 on the Ethereum blockchain. Fans are promised a “unique and personalized NFT envisioned by Gucci creative director Alessandro Michele and carefully crafted by Wagmi-san.”
Fans have their fingers crossed for a wearable but that’d be a first for the brand. Brands like Gucci have staying power. It’s been around since 1921. When industry stalwarts get into the game, their value can be as stable as a Pepsi (Nasdaq: PEP) or Coca-Cola (NYSE: KO). Only way more haute.
3. Adidas (OTCMKTS: ADDYY)
Adidas for Prada came out with a global, community-contributed NFT art project with digital artists Zach Lieberman. Their two main projects are titled “Into The Metaverse” and “Re-Source.”
Re-Source hosts an interactive, dynamic platform that enables the community to contribute to a large-scale artwork through play, and discover the transformative benefits of web3, co-creation, digital ownership and NFTs.
But if you were hoping to jump in and play, sad news: The limited-edition collaborative NFT is already sold out.
Flipside: Since it’s sold out, you know it’s popular — so keep your eyes on its resale value. And be first in line next time they drop something fresh!
4. Nike (NYSE: NKE)
Nike just did NFTs in a big way. At the end of 2021, they purchased a virtual shoe company called RTFKT studios.
Apparently, buying NFTs to show off in the metaverse is just as popular as collecting sneakers in real life, so why not merge the two?
They hope to deliver “next-generation collectibles that merge culture and gaming.”
Sneakers have a HUGE secondary market in real life – $1 billion dollars huge. If so-called sneakerheads get a whiff of what’s dropping in the virtual world, they could help drive up demand for NFT sneakers as well.
5. Pixar (NYSE: DIS)
Pixar launched a collection of 54,995 NFT pieces called Disney Pixar Pals on VeVe this week. And they sold out within 24 hours.
The collection contained iconic characters from Pixar Animation Studios, including Sheriff Woody, Mike Wazowski, Lightning McQueen, The house from “Up,” and Edna Mode.
Users only got to discover which character they’d purchased after completing payment.
This speaks to the power of high-value brands. Usually, people want to know exactly what they’ll get when they buy something. But Pixar devotees are so devoted to the brand, they’re good with dropping dollars on a surprise.
This could present an opportunity in the resale market for people who didn’t get the characters they really wanted. Kind of like a digital gift exchange you pay for in crypto monies. Or who knows? Maybe they’ll become the next Beanie Babies!
6. Stephen Curry
To celebrate his 34th birthday, NBA champion Stephen Curry, gave holders of his NFT collection a big surprise.
His “2,974 Collection” features a series of individually numbered NFTs offered through the FTX platform. Each one highlights a specific 3-pointer and game date from his 12-year career.
He surprised his NFT owners with a bonus Birthday Cake NFT. And all holders with a 3-point NFT from a Curry birthday game also received an all-expenses-paid trip to San Francisco for a meet and greet. Now that’s a slam dunk offer!
Rare items tend to hold more value. Who knows what Steph’s b-day surprise will mean to someone down the line. Maybe their value will moon jump the way trading cards sometimes do. Let’s hope he autographs the next ones!
7. Pepsi (NASDAQ: PEP)
Pepsi said “that’s what I like” to NFTs. They jumped on the bandwagon with their Mic Drop Genesis collection.
Per Pepsi, in a “nod to the year Pepsi was born, each of their 1,893 genesis tokens are created using nearly 50 unique attributes across 6 categories, including microphones, stages, accessories, and more.”
Like many NFTs, the mics are caricature images, and they’re sure to put a pep in anyone’s step. (Yup, dad joke.)
Pepsi’s known for collaborating with celebrities. If they do a celebrity brand partnership NFT, that could really get some eyeballs on their digital doodads. It could have a similar effect if they link their NFTs with any popular social media influencers. Let’s hope this time they pick the right one baby, uh-huh.
NFTs have made it into the marketing strategies of A-list brands.
And once major players like Instagram fully integrate them, there’s no telling where they could go. Making it easier for people to mint their own NFTs from within a platform they already use is a huge user-friendly step.
What big blue-chip companies do tends to have an impact on the smaller players in the game.
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