The past few months have seen an explosion of non-fakeable tokens (NFTs) as cryptocurrency artists, gaming enthusiasts, musicians, celebrities and now fast food chains deploy the technology in a variety of ways.
Fast food giants such as McDonald’s, Burger King and Taco Bell are embracing NFT because of their ability to gamify the promotion and distribution of their products and services.
Below is a brief overview of the emerging NFT adoption in the fast food industry.
Taco Bell is a popular fast food brand in the United States thanks to its Mexican-inspired products. In a marketing campaign in March 2021, Taco Bell launched a new NFT line, becoming the first brand in the fast food chain to offer collectible tokens.
The Taco Bell NFT (Taco Art) consists of artistic illustrations of its fast food products, with some buyers paying up to 10 ethereum (ETH) for a Taco Bell NFT. According to a tweet from the restaurant chain, the proceeds generated from the sales were donated to charity.
Not to be outdone, Burger King has announced its entry into the NFT space, releasing a series of digital collectibles in a marketing campaign dubbed “Keep it Real Meal.”
Each Burger King customer can scan the QR code that comes with their meal to receive one of three collectible game pieces. Once the player receives all three pieces, they will receive a fourth token, which could be a digital collectible, a year’s supply of burgers or a reward of a call with one of the campaign’s celebrity spokespeople.
Despite China’s ban on almost everything related to cryptocurrency, McDonald’s China division is giving out a set of 188 NFTs to its employees and customers as part of a giveaway celebration for the franchise’s 31st anniversary.
The NFTs consist of a 3-D art design of McDonald’s China’s new office headquarters, a project called the “Giant Magic Cube,” and they were done in partnership with digital asset creation agency Cocafe.
The Canadian subsidiary of Pizza Hut, the fast food chain known for its self-serve pizzas, has released an NFT project called “1 Byte Favourites,” which are digital NFT images of pizza slices.
In a March 17 announcement, the company said it will release NFT images of a slice of pizza every other week. Each pizza slice and NFT image will have a different recipe, and interested buyers can get those NFTs on Rarible.
Daniel Meymen, Pizza Hut Canada’s chief marketing officer, said the NFT campaign is “an opportunity for fans to get their favorite Pizza Hut recipes in another way, even if it’s virtual.”
A new marketing medium for big brands
Just like other trends online, marketers have jumped on the NFT bandwagon to get a piece of the action and grab people’s attention by using this novel technology.
Fast food brands and other consumer goods brands are quickly discovering that using NFT badges and other digital collectible lingo as part of their campaigns is a successful strategy when selling their products.
Even when collectibles are not limited or rare, the public continues to buy NFTs at exorbitant prices.The jury is still out on whether this is the future of brand marketing or just hype that will soon die out.