Budweiser has dived into the NFT space, purchasing the Ethereum domain name “beer.eth” together with an NFT bottle rocket from the Tom Sachs Rocket Factory collection.
Budweiser purchased the ENS domain “beer.eth”
The Twitter account @budweiserusa changed its profile picture Monday night to a Budweiser-themed rocket from the Tom Sachs Rocket Factory NFT collection, which the company bought for 8 ETH. The address that owns the rocket had also purchased the ENS domain “beer.eth” for 30 ETH, which is nearly $100,000.
The company also seems to have registered “beyondbeer.eth” and did not officially announce the purchase of NFTs, but instead tweeted three rocket emojis after the items were purchased.
— Budweiser (@budweiserusa) August 24, 2021
Budweiser is not the only company buying NFTs. The biggest purchase this week came from Visa, which purchased a crypto punk for $150,000, and the Ice Tea brand Arizona also announced that it had bought a bored ape which ended in a debate over whether the use of the Bored Ape Yacht Club logo was appropriate.
What is an ENS domain and Tom Sachs Rocket?
ENS stands for Ethereum Name Service. The app allows anyone to register their website or wallet name on the Ethereum network. Similar to how you can buy and sell domain names on the internet. For example, instead of remembering a 42-character ETH wallet address that looks something like “Pxy89eb1ddd3440a69…”, you can replace it with a more familiar ENS domain name that is easier to remember, such as Budweiser’s “beer.eth” domain. The domain names can also be traded on Opensea.
Tom Sachs Rocket Factory launched in early August and allows collectors to build their custom NFT bottle rockets with various components, including branding from companies like Budweiser, McDonald’s and cartoon characters like Hello Kitty. After you create your rocket, you also have the option to launch it.