Pepsi is the latest billion dollar brand jumping into the NFT space. Surprisingly, no mention of metaverse anywhere in the press release.  Covered: Pepsi Announces Ethereum-based NFTS Great News For Ethereum Pepsi Announces Ethereum-based NFTS Yup. We did that. Introducing Pepsi Mic Drop – our genesis #NFT collection. Details in the thread below ?? pic.twitter.com/JS9Qu51yGm […] The post Pepsi Releasing Ethereum-Based NFTs appeared first on CryptosRus.

Pepsi Releasing Ethereum-Based NFTs

Pepsi is the latest billion dollar brand jumping into the NFT space. Surprisingly, no mention of metaverse anywhere in the press release. 

Covered:

  • Pepsi Announces Ethereum-based NFTS
  • Great News For Ethereum

Pepsi Announces Ethereum-based NFTS

Pepsi announced today that they are releasing their first NFT collection tomorrow, December 10th. The release titled, “Pepsi Mic Drop,” will be released on Ethereum.

The NFTs themselves will be free, but buyers will be required to pay Ethereum gas fees. The waitlist to sign up for the drop is TBA, according to Pepsi’s official site.

Recommended: Adidas Steps Into Metaverse With The Sandbox

The release will include 1,893 NFTs with rarities like microphones and stages. “WHY THAT MANY: It’s the year Pepsi was born,” Pepsi said via Twitter.

The artwork of the NFTs are a tribute to the soft drink brand’s enduring relationship with music. “Pepsi and music have been intertwined for decades, and our genesis NFT collection pays homage to our love of pop stars and musical legends while setting the stage for what’s to come in the world of Pepsi NFTs. This will be a Mic Drop of epic proportions!” Pepsi said via their official website.

Pepsico stock is trading in the $165 range, down 1% for the day.

Great News For Ethereum

The news of Pepsi NFTs comes after some recent high profile wins for Ethereum competitors.

Most recently, Tezos partnered with video game giant Ubisoft. It was a huge get for Tezos. Tezos was chosen for its environmental superiority and cheaper transactions than the proof-of-work-based Ethereum.

Ethereum’s slow-going transition to proof of stake makes it vulnerable to competitors. But a brand the size of Pepsi, worth 11 billion dollars as of 2020, showing confidence in the brand, despite massive gas fees and environmental FUD, is great news for the world’s first smart contract protocol.

Ethereum is trading down on the news. ETH is trading in the $4,200 USD range, down 4% in the last 24 hours. However, the rest of the market is struggling as well. Global market cap is down 3%, to 2.3 trillion dollars.

Recommended: We Need To Talk About Ethereum, And How Its Going To 13k

The post Pepsi Releasing Ethereum-Based NFTs appeared first on CryptosRus.