Coca-Cola to Launch First NFT on OpenSea on Friendship Day to Benefit the Special Olympics

Coca-Cola to Launch First NFT on OpenSea on Friendship Day to Benefit the Special Olympics

Coca-Cola, one of the most popular beverage companies in the world, has announced that it will launch a non-fungible token (NFT).

In a press release shared earlier today, the Atlanta-based beverage conglomerate confirmed that it had partnered with developer Tafi to launch branded virtual wearables as NFTs. The tokens will represent different items, and they will be available on multiple blockchain-powered platforms.

NFTs for a Good Cause

The upcoming launch will be Coca-Cola’s first foray into NFTs. It also marks yet another big brand working with these tokens to grow their reach. With the beverage company looking to celebrate International Friendship Day with the NFT, all proceeds coming from the sale will go to the Special Olympics.

Explaining the NFT drop, Coca-Cola explained that the collection would feature four separate pieces and feature multi-sensory NFTs housed inside a Friendship Box. the box itself will be an NFT too. The NFT will be auctioned off, and the winning bidder will get additional unique surprises when they digitally open it.

Another unique feature of the NFT launch is that the assets can be worn within Decentraland – a blockchain-powered 3D virtual reality world. Coca-Cola also said that it would host a “Rooftop Party” on Decentraland to celebrate the NFT launch.

Coca-Cola Deepens Crypto and Blockchain Ties

While this is a milestone for Coca-Cola, it’s not their first foray into the blockchain and crypto industry. In November 2019, Business Insider reported that Coke One North America (CONA), the company that handles IT operations for Coca-Cola, used a blockchain solution to manage its supply chain.

Per the report, CONA managed a platform to oversee different franchises that manufacture, bottle, and ship about 160,000 Coca-Cola product orders daily. The technology could help improve cross-company transaction processes and transactions, allowing the bottling operation to move along more rapidly.

Andrei Semenov, senior manager at CONA, told Business Insider that the company expected to use blockchain to reduce order reconciliation durations from 50 days to just a few days. With an inter-company, transparent blockchain platform, CONA will get real-time insights into all bottlers’ transactions, which generate up to $21 billion in annual revenues.

Last year, Amatil X, Coca-Cola Amatil’s corporate venture platform, also announced an investment into Centrepay – a digital asset and payment service provider. Amatil, one of the largest Coca-Cola bottlers in the world, had built a corporate partnership with Centrepay at the time that allowed users to make crypto payments at any of its 2,000+ vending machines across New Zealand and Australia.

With the investment, Centrepay claimed that it would expand its service range t include Epay gift cards, contactless fiat, and vouchers.

Read Original/a>
Author: Jimmy Aki

Blockchain Technology to Grow the Global GDP by $1.76T In the Next Decade: PwC Report

  • China set to benefit the most from blockchain technology growth in the next decade with a protracted $440 billion boost in its GDP during this period.
  • This represents 25% of the total protracted global GDP boost from the innovative technology – set at $1.76 trillion by 2030.

A research report from a ‘big 4′ accounting firm, PricewaterhouseCoopers (PwC), “Time for Trust,” explores blockchain technology’s global socio-economic impact in the next decade. Targeting 2025 as the tipping point for the technology. If adopted at scale, PwC experts and researchers see a $1.76 trillion impact from the technology by 2030. This represents 1.4% of the total gross domestic product (GDP) of the world.

The report focuses on blockchain’s practical use in five key areas – provenance, payments and financial instruments, identity, contracts, dispute resolution, customer engagement – and how they deliver value in building transparent and efficient solutions across all industries.

According to the report, Asia is set to witness blockchain technology’s greatest impact, China leading the growth with a $440.4 billion projection. Japan and India expected to witness a $72.3 billion and $62.2 billion increase, respectively.

The United States is expected to witness a $407.2 billion increase in GDP from blockchain innovation growth in the next decade.

PwC report further states blockchain’s role in enhancing transparency and traceability as the sector with the most growth potential – projected to grow by $$961.6 billion by 2030. Anthony Bruce, Partner, and Pharmaceutical and Life Sciences Leader, PwC U.K, praised the potential of blockchain innovation in providence and traceability in the healthcare industry, stating,

“For healthcare organizations, blockchain can ensure patient safety is at the heart of the pharmaceutical supply chain. It has the potential to give patients confidence in the authenticity and origin of drugs.”

Payments and securitization of wallets are also picking up the pace and is expected to grow by $433.2 billion in the next decade. The U.S is expected to lead global growth in this period and is expected to experience a $136.3 billion GDP growth from blockchain-based payment systems, with China coming in a close second at $104.6 billion.

“Blockchain has the potential to cut costs, speed up transactions and promote greater financial inclusion by streamlining cross-border and remittance payments,” Lucy Gazmararian, Crypto, and FinTech Advisory, PwC Hong Kong said.

“These powerful innovations will transform the payments infrastructure.”

Read Original/a>
Author: Lujan Odera