Coca-Cola has recently made headlines with the release of its Masterpiece NFT collection on the Coinbase layer-2 network, Base. This move comes as part of Coinbase’s “Onchain Summer” initiative, which aims to showcase the efficiency and cost-effectiveness of the Layer 2 chain. The initiative, launched on August 9, features a range of on-chain art, gaming, and music projects. With the opening of Base’s mainnet to the public, over 100 Dapps and service providers are now available on the network.
The Coca-Cola NFT collection is a fusion of classic and contemporary art with the iconic Coca-Cola bottle. The collection features renowned artworks, including “The Scream” by Edvard Munch and “Girl with a Pearl Earring” by Johannes Vermeer. The announcement states that “Coca-Cola is bringing their Global Masterpiece campaign on-chain with iconic works from leading artists”. Since the mint was announced, an impressive 50,000 NFTs have been minted using the mint.fun platform. The minting period is set to continue until Wednesday.
Coinbase’s “Onchain Summer” campaign was launched to coincide with the introduction of Base’s mainnet. The campaign, running until August 30, highlights a variety of on-chain art, gaming, and music initiatives powered by Base. Prominent participants in the event include Friends With Benefits, Optimism, and Atari. Friends With Benefits has collaborated with the anonymous crypto enthusiast Cozomo de’ Medici to launch the “New Era ETH” and “New Era BTC” NFTs. Companies that develop and deploy on Base may be eligible for grants, as mentioned by Coinbase’s protocols lead, Jesse Pollak.
Coca-Cola’s foray into the NFT domain with its “Masterpiece” collection signifies the increasing relevance of digital art and its popularity among people. Moreover, its presence on Coinbase’s Base network highlights the evolving nature of the NFT industry. NFTs are no longer solely viewed as speculative assets but also as tools to introduce a wider audience to digital art and blockchain technology. The entry of established brands like Coca-Cola helps bridge the understanding gap and demystify the technology for many. This shift towards education and inclusivity, instead of mere speculation, should be the NFT industry’s focus to achieve sustainable growth and widespread acceptance.
Coca-Cola’s launch of its Masterpiece NFT collection on Coinbase’s Base network is a significant event that reflects the changing landscape of the NFT industry. With the “Onchain Summer” initiative, Coinbase aims to showcase the efficiency and cost-effectiveness of the Layer 2 chain. As established brands embrace NFTs and leverage their influence to promote digital art and blockchain technology, the industry has the potential to reach a broader audience. By prioritizing education and inclusivity, rather than just speculation, the NFT industry can foster sustainable growth and widespread acceptance.