The Middle East Marks Food and Beverage Giant Nestle’s First Foray Into the World of Nfts

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Last Updated on January 15, 2024 by newseditor

Many companies in the beverage industry are now producing NFTs as a means of advertising their products. Several big food manufacturers, retailers, and players are betting on NFTs to help them stay competitive and current in the industry. NFTs can be sold to raise money for charities that help feed those in need. Nestle has debuted its first ever NFT collection in the MENA region as part of its humanitarian initiative.

Nestle Food claims that the company launched its NFT for charity and will use all the proceeds to help the needy. To promote the launch of Nestlé’s TRIX Breakfast Cereal brand in MENA, the company has released its first NFTs on OpenSea. The TRIX Globe is part of a limited-edition series consisting of only two NFTs, and it was only up for grabs between March 18 and May 13, 2022.

The TRIX Globe NFT Collection – A Series Of Two Unique NFTs

Nestle plans to use NFTs to spur innovation in its breakfast cereals. TRIX is a brand of breakfast cereal whose slogan is “put the fun back into breakfast.” Regarding morning cereal, TRIX is the pioneer and only brand globally to launch its own NFT collection. This demonstrates how innovative and flexible Nestle food brand is. Nestle’s ‘Better Lives’ promise aligns with the company’s introduction of the first blockchain-based program in the area dedicated to a charitable purpose. The Emirates Red Crescent will get 100% of the funds raised at auction for TRIX NFTs.

Beverage Industry Trend For 2024 – Brands’ Decisions To Work With NFT Food And Drink

NFTs are directly associated with real world things. The emerging beverage industry trend for food and beverage brands is embracing NFT food to interact with its target audience in the virtual world. And now, even Starbucks hopes to profit from NFTs. The importance of the Metaverse’s food industry cannot be overstated. Given that it opens the door for a wide variety of businesses to grow and flourish, it allows them to gamify the food industry. Major corporations have published NFT food to promote new food items and rebranded meals to attract a broad audience.

NFTs Are Creating A Global Tidal Wave

Despite being new to the cryptocurrency market, NFTs are booming. Consequently, they have witnessed a significant increase in trade volume and widespread adoption. According to IntoTheBlock, the total number of ETH exchanged in NFTs has just surpassed 18 million, placing the sum of all these deals at $54 billion. Since January, NFT trading activity has surged more than 220%. For this reason, NFT is seeing an influx of new businesses, especially from the food and beverage sector.

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