Budweiser Purchases Rocket NFT — ‘King of Beers’ Buys Beer.eth ENS Name for $96K

Budweiser Purchases Rocket NFT — 'King of Beers' Buys Beer.eth ENS Name for $96K

A variety of well-known brand names have joined the cryptocurrency space and the budding non-fungible token (NFT) ecosystem. Now the Anheuser-Busch brand Budweiser has jumped into the NFT game by purchasing an NFT on Opensea for 8 ether ($25.7K). Moreover, Budweiser also owns the domain name “beer.eth” after the firm purchased the name for 30 ether ($96K).

Budweiser Joins the Blockchain Fray

One of the largest-selling beers in the United States, Budweiser brand beer, is now getting into blockchain technology. Following the slew of household brands like Snickers, Milky Way, Axe, Slim Jim, Burger King, Oscar Mayer, and more who have already jumped in, Budweiser has revealed it has purchased two specific blockchain items.

In addition to purchasing the items, Budweiser has quietly tweeted about it on social media and the company’s official Twitter profile shows a picture of the NFT it just purchased. Budweiser bought the non-fungible token (NFT) art called “Life of the Party” crafted by Tom Sachs.

The NFT picture is a rocket with a wick, decorated in a bunch of Budweiser-brand labels. It also showcases Sachs’ signature and says “rocket factory: perfect rocket.” The NFT was bought by Budweiser for 8 ether which is equivalent to over $25K at the time of purchase.

Sachs also tweeted about the sale and Budweiser responded with three emoji rocket ships. “Welcome to the party,” Sachs declared on Twitter. Budweiser’s NFT grab follows the recent purchase made by multinational finance firm Visa when the company bought a Cryptopunk NFT for $165K.

Budweiser Buys Beer.eth ENS for $96K

The popular American beer brand also purchased an Ethereum Name Service name called “beer.eth” on August 11, 2021, for 30 ether ($96K), according to Opensea marketplace records. Basically, the Budweiser-owned beer.eth name is tied to the Ethereum Name Service (ENS), a decentralized, extensible naming system that leverages the Ethereum protocol. ENS services are nascent but Budweiser could utilize the beer.eth ENS name for a variety of different applications.

The Budweiser Twitter account has more than 225K followers as the 145-year-old brand is well known in the U.S., but also internationally. While Anheuser-Busch operates 32 breweries worldwide, only 12 are located in the United States.

What do you think about Budweiser getting into the NFT and blockchain space? Let us know what you think about this subject in the comments section below.

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