Why Bud Light Should Make NFTs
Every brand in the world is going to drop its own NFT project in the future — including Bud Light. Many companies will struggle to design their digital tokens and the smart contracts that live underneath them. However, I think Bud Light is well equipped to do both, in part because, with the help of Wieden + Kennedy, they have already created and popularized a character known as The Bud Knight. This beloved character will surely become a collector’s item, increasing the chances of a successful first NFT project.
I know that I would be jealous of anyone who has The Bud Knight in their digital wallet. Not only because it looks cool but also because NFTs can house what are called smart contracts. These contracts give the owner unique benefits. For example, said person can have access to exclusive events, perhaps a Bud Light rooftop party.
Probably the most intriguing aspect of NFTs (from a business perspective) is the royalty aspect. Each time a secondary sale happens, the smart contract ensures that the terms of the NFT are fulfilled. If a royalty is specified, a cut of the profits goes to the artist who created them. Artists can yield substantial profits even into the future when they are no longer in possession of their tokens. Businesses will unequivocally want to take advantage of the benefits of secondary sales. The Bud Knight NFT project could set up Anheuser-Busch for disproportionate financial success.