Budweiser uses $120K to purchase 'fan art' NFT and Beer.eth domain

Budweiser, a subsidiary of Anheuser-Busch InBev, appears to have unofficially sanctioned a piece of nonfungible token, or NFT, art after purchasing it for use on its Twitter profile. 

According to records from the OpenSea marketplace, the beer producer purchased a Budweiser-branded rocketship NFT on Aug. 24 for 8 Ether (ETH), or roughly $25,704. The company used the “Life of the Party” image, featuring three beer cans making up the body of a rocketship, for its official Twitter profile picture. At the time of publication, Budweiser’s 224,900 followers can still view the image.

Welcome to the party https://t.co/uSh51Vyr41

Acknowledging the NFT’s creator, Tom Sachs, with a retweet, Budweiser seems to be taking another step into the crypto and blockchain space with this latest purchase. On Aug. 11, the company also bought the domain name Beer.eth through Ethereum Name Service on OpenSea for 30 ETH, or more than $96,000 at the time of publication.

Related: If Cryptocurrencies Were Beer…

Different beer companies operating under Anheuser-Busch InBev have been entering the digital space. In June, the United Kingdom arm of pilsner beer brand Stella Artois released a series of branded skin NFTs to be used on horses in the digital racing game Zed Run. In 2020, Anheuser-Busch InBev piloted a platform allowing customers to track the supply network of their beers on the blockchain.