Pepsi is Marking Birth Year With 1,893 Generative NFTs

Pepsi has chosen to commemorate its birth year, 1893, with a series of one-of-a-kind non-fungible tokens (NFTs).

The company’s NFT series, titled “Pepsi Mic Drop,” will include 1,893 pieces of a microphone visual inspired by Pepsi flavors such as Classic Blue Pepsi, Silver Diet Pepsi, and Red Pepsi Wild Cherry, among others.

An algorithm will generate each of these Ethereum-based NFTs at random, adding to their uniqueness and quotient. NFTs are blockchain-based digital collectibles inspired by real-world elements.

Pepsi has asked interested people to register on its now-functional waitlist portal and have their credentials verified in order to generate buzz around the launch of its NFT series. People will be able to mint one “Mic Drop” NFT after passing the verification process.

While these NFTs are free to mint, the minter must pay the gas fee to facilitate the Ethereum transaction. Because each transaction on the Ethereum blockchain necessitates the use of computational resources, they necessitate a transaction fee, also known as the “gas fee.” Gas prices are expressed in “gwei,” with one gwei equaling 0.000000001 Ether.

Interested people will also have to set up crypto wallets for this NFT minting.

Tweeting glimpses of these swanky NFT pieces, Pepsi laid out the details of the launch.

HOW DO I CLAIM: Drop is only for folks who make it onto our waitlist
WEN WAITLIST: Opens TOMORROW! Turn on notifications ????
HOW DO I KNOW IF I MADE IT: Go to https://t.co/5s3znVsQzJ on 12/14 and connect your wallet. If you made it there’ll be a “mint” button ??

— Pepsi (@pepsi) December 9, 2021

In order to keep up with the rapidly evolving crypto-generation, several brands have jumped on the NFT bandwagon, offering fans and followers the opportunity to own limited edition digital collectibles on blockchain.

Earlier, Pepsi’s main rival Coca-Cola released a four-piece NFT collection to commemorate International Friendship Day. Coca-Cola claimed that the auction of those pieces brought in more than $575,000.

Exclusive NFT series have also been launched by Budweiser, Macy’s, Taco Bell, Burger King, and McDonald’s.

According to market tracker DappRadar, NFT sales volume increased by more than eightfold in the third quarter of 2021 to $10.7 billion.

Customers’ interest in owning digital collectibles is growing, and several artists from around the world are stepping up efforts to digitize their work and auction it off for collectors from around the world.

In Malaysia, for example, the trend of creating and auctioning NFTs is attracting a large number of artists who want to experiment with the medium. Malaysian artists are expanding their digitised artwork portfolio, which includes 3D animations, memes, and illustrations inspired by the multi-ethnic Southeast Asian culture.

“Earlier this year, you could probably count on one hand the number of Malaysian artists actively minting and selling NFTs.” “That number steadily increased to hundreds over several months, and now we are probably in the thousands,” said Munira Hamzah of the non-profit organization Malaysia NFT, according to an Al Jazeera report.

American digital artist Mike Winkelmann, better known as Beeple, recently earned a whopping $28.9 million by selling HUMAN ONE, a futuristic artwork, as an NFT.

Earlier this month, Ross Ulbricht, the imprisoned founder of the now-defunct “Silk Road” dark Web marketplace, auctioned off an NFT for $6.2 million.