Budweiser, one of the largest beers in the United States, jumped on the non-fungible token (NFT) train by purchasing the domain name "beer.eth" which is an Ethereum extension as well as an artwork.
A NFT bottle rocket from the Tom Sachs Rocket Factory Collection was purchased with 8 Ether (roughly $25,704) from NFT marketplace OpenSea by the brewer.
It appears the company has acquired the NFT after changing its official Twitter profile picture to the Budweiser-themed rocket on Monday evening.
ENS domain "beer.eth" was recently bought for a staggering $100,000 (30 ETH) by the same address that bought NFT art.
Ethereum Name Service, or ENS, is a blockchain-based equivalent of Domain Name System (DNS). The new naming protocol works similarly to DNS.
The Ethereum network allows users to register custom domain names or wallet names. ENS domains can be sold as NFTs just like regular domain names on the internet.
Budweiser also appears to have purchased the ENS domain "beyondbeer.eth" in addition to "beer.eth".
Digitalization has been embraced by various beer companies belonging to the Anheuser-Busch InBev group. For the game, Zed Run, the UK arm of Stella Artois beer released branded skin NFTs for horses.
Anheuser-Busch InBev has developed a blockchain-based platform that allows customers to track the supply chain of their beers.
The announcement of Budweiser's latest involvement in NFT follows Visa's announcement that it had invested $150,000 in CryptoPunk.