Coca-Cola is venturing into the metaverse once again, and this time around, it is doing so with a new NFT collection on the fast-rising Ethereum Layer 2 blockchain, Base.
Coca-Cola Partners With Base
The beverage company has released its latest NFT “Masterpiece” collection on the Coinbase-owned Base blockchain, which Coinbase announced as part of Base’s ongoing ‘on-chain summer’ campaign.
The Masterpiece collection features classic artworks like “The Scream” by Edvard Munch and “Girl with a Pearl Earring” by Johannes Vermeer, as well as works from emerging artists like “Aket and Vikram Kushwah,” all of which are intertwined with Coca-Cola’s iconic bottle.
Coca-Cola had earlier partnered with these artists as part of its Masterpiece Global Campaign, intending to tell a story of the company’s brand with each artwork. However, the campaign has taken a different perspective by going on-chain and introducing these artworks as digital collectibles.
“By taking it onchain, Coca-Cola is leading the way for other brands and industries to explore innovative ways of engaging with our new digital age. This collection transcends the physical limitations of a traditional art gallery, expanding its reach and impact across the globe.” Part of the statement read.
Coca-Cola is no newcomer to the metaverse. In 2021, the company launched its first-ever NFT collectibles to celebrate International Friendship Day. And last year, it partnered with crypto exchange crypto.com to launch its ‘Piece of Magic’ NFT collection.
Base Gaining Traction
Coinbase’s Base officially opened to the public on August 9, and the network didn’t waste any time hitting the ground running. According to data from the Crypto analytics platform CryptoRank, Base ranked 4th among layer 2 solutions (only behind zkSync Era, Arbitrum, and Optimism) by daily transaction per second (TPS) a day after its mainnet launch.
Data from Dune Analytics also shows that Base enjoys a commendable number of daily active users on the platform. Since launching, the only day it recorded a total number of daily users below the 100,000 mark was the first day of launch (99,758 users), and since then, it has crossed the 100,000 mark each day.
Liquidity is also flowing into the ecosystem as over $203.9 million has been bridged to Base. Meanwhile, the network has made over $1.9 million in total revenue. These figures are expected to rise significantly as more protocols and projects adopt Base.
Furthermore, Base’s ongoing ‘Onchain Summer’ campaign is expected to help increase activity and trading volume on the network. As part of the campaign, Base has partnered with 50 “builders, products, artists, and brands” to display the network’s capabilities.
It plans to unveil a daily mint on the network throughout August, of which Coca-Cola’s Masterpiece collection is one of them. The campaign will also feature digital collectibles from Anotherblock, Thirdweb, Pixelmon, Zora, Showtime, and Indelible Labs.
Coinbase stock at $81 as Base gains traction | Source: Coinbase Global, Inc. on Tradingview.com
Featured image from CNBC, chart from Tradingview.com
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