November 24, 2022
By Sharan Kaur Phillora
Joining the bandwagon alongside some of the biggest global companies, Pepsi has announced a foray into the NFTs (non-fungible tokens) space.
Here’s what we know:
The 128-year-old beverage major is developing 1,893 unique tokens that comprise creative variations of a capacitor microphone that depict various soft drink flavors offered by Pepsi. The number of unique tokens being developed also represents the year Pepsi was born.
Marking the occasion, Todd Kaplan, Pepsi’s marketing vice president, said, “Pepsi has always been a brand with a strong heritage in music and pop culture, so it’s only fitting for us to bring that legacy into the new world of NFTs with a ‘mic drop’ of epic proportions.”
Additionally, Pepsi has revealed in a press release that the NFTs are created using an algorithm that ensures each token is unique and the design is not repetitive. The NFTs will be launched on December 14, 2022, and will be mined by those who have entered the waitlist on the same day.
The Pepsi Mic Drop genesis NFT exists on the Ethereum blockchain. Each token will be created by using 50% unique attributes across six categories. The elements used in the design of Pepsi NFTs include microphones, stages, accessories, and more. On its official website, Pepsi says that its collection of digital tokens pays homage to Pepsi’s love for pop stars and musical legends while setting the stage for what is about to come. The NFTs have been created by a VaynerX company called VaynerNFT.
In order to mint one of the 1,893 NFTs, one will require MetaMask. Additionally, Pepsi also says that the Mic Drop NFT will be free, but those interested will have to pay a transaction fee, which is also called gas in the world of cryptocurrency and blockchain.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.