If you were waiting for PepsiCo to enter the non-fungible token (NFT) market, wait no longer.
The snack and soda giant is hoping to attract both seasoned buyers and newcomers alike with the launch of Pepsi Mic Drop, a zero-fee collection of NFTs designed in partnership with VaynerNFT that “pay homage to the brand’s storied history in music and the suite of Pepsi flavors that have captivated unapologetic cola-loving consumers for decades.”
The waitlist opened Friday, December 10, and those approved will have their chance to mint the first 1,893 NFTs for free (not including Ethereum gas fees) starting tomorrow, Tuesday, December 14 at 12:30 p.m. EST. Once a consumer is verified, the token will be minted and sent directly to their wallet.
What are the NFTs, you ask? According to the release, each unique item, generated randomly via an algorithm, will be “grounded in variations of a microphone visual and inspired by iconic Pepsi flavors including classic blue Pepsi, silver Diet Pepsi, red Pepsi Wild Cherry, black Pepsi Zero Sugar – even fan-favorite Crystal Pepsi and many more.” The company is also implementing a carbon offset program to ensure a net-zero carbon footprint for the collection, with the 50 remaining NFTs to be “held for other exciting initiatives in the near future.”
“Pepsi has always been a brand with a strong heritage in music and pop culture, so it’s only fitting for us to bring that legacy into the new world of NFTs with a ‘mic drop’ of epic proportions,” said Todd Kaplan, VP of Marketing at Pepsi, in a press release. “We created the Pepsi Mic Drop genesis NFT collection for our fans, putting their interests and needs at the forefront by ensuring the NFTs are all free of charge and presented equitably as an inclusive and accessible opportunity for anyone to experience the exciting world of NFTs. This collectible series of microphones is not only inspired by our history, but also represents the scale and scope of how accessible we see this space becoming in the future.”
Pepsi’s move into NFTs comes as tech-minded beverage companies have begun to lean into the unique marketing and awareness building opportunities provided by crypto. In a signal of its belief in the potential for the space, Anheuser-Busch InBev signed on as VaynerNFT’s flagship client when it launched in July, around the same time that the firm announced its collaboration with Coca-Cola on a collection of four NFTs sold to raise funds for the Special Olympics International.
Meanwhile, esports-focused energy drink G FUEL partnered with A.I.-powered robot rapper FN Meka for its NFT giveaway in September, while spirit labels like Bacardi and The Dalmore have launched their own projects.
Elsewhere, online community Club CPG has taken the platform in a different route, issuing tokens — modeled after beverages, snacks, hygiene products and cleaning supplies and other consumer products — that function as tickets to gain access to member benefits such as an exclusive chat channel featuring CPG industry veterans, investors and startup founders.