Nonfungible tokens (NFT) have seen a surge in popularity in recent months, with crypto artists, gamers, musicians, celebrities, and now fast food chains deploying the technology in a variety of ways.
McDonald’s, Burger King, and Taco Bell are embracing NFTs due to their ability to enable gamified promotions and distribution of their products and services.
Here’s a quick rundown of emerging NFT adoption in the fast-food industry.
Taco Bell is a popular fast food chain in the United States because of its Mexican-style offerings. Taco Bell launched a new NFT collection in a March 2021 marketing campaign, becoming the first fast-food chain to offer collectible tokens.
Taco Bell NFTs (Taco Art) are artistic illustrations of the company’s fast-food offerings, with some buyers paying up to ten Ether (ETH) for a single Taco Bell NFT. According to the restaurant chain’s tweets, the proceeds from the sale were donated to charity.
Burger King, not to be outdone, announced its entry into the NFT space with the release of a variety of digital collectibles as part of a marketing campaign dubbed “Keep It Real Meals.”
Every Burger King customer will be able to redeem one of three collectible game pieces by scanning the QR code that comes with their meal. When a player collects all three tokens, they will be awarded a fourth token, which could be a digital collectible, a year’s supply of burgers, or a call with one of the campaign’s celebrity spokespeople.
Despite China’s ban on almost everything crypto-related, McDonald’s China branch will distribute a set of 188 NFTs to employees and customers as part of a giveaway to commemorate the franchise’s 31st anniversary.
The NFTs are three-dimensional artistic designs of McDonald’s China’s new office headquarters created in collaboration with digital asset creation agency Cocafe in a project titled “Big Mac Rubik’s Cube.”
The Pizza Hut
The Canadian subsidiary of Pizza Hut, a fast-food chain known for its all-you-can-eat pizza buffet, has launched an NFT project called “1 Byte Favourites,” which consists of digital NFT images of pizza slices.
The company announced on March 17 that it would release NFT images of a slice of pizza every other week. Each slice and NFT image would come with a unique recipe, and interested buyers would be able to access the NFTs via Rarible.
The NFT campaign, according to Pizza Hut Canada chief marketing officer Daniel Meymen, is “an opportunity to give fans another way to get their hands on their favorite Pizza Hut recipes, even if it’s virtual.”
The new marketing medium for major corporations
Marketers, like every other popular trend online, have jumped on the NFT bandwagon in order to get a piece of the pie and capture people’s attention by utilizing the novel technology.
Fast food and other consumer goods companies are quickly discovering that using the NFT badge and other digital collectible jargon as part of their campaign is a winning strategy.
Even when the collectibles are not limited or rare, the masses continue to pay exorbitant prices for them. The jury is still out on whether this is the future of brand marketing or just a passing fad.