Great news for whiskey lovers! Jack Daniel’s, the famous Tennessee liquor brand, is all set to enter the world of non-fungible tokens and metaverse. After cryptocurrencies grabbed massive public attention, metaverse and digital art were the subsequent assets to hit the floor. The lucrative and evolutionary factors seem to be a significant driving force behind their popularity.
Brands have now found a new way to connect to prospective buyers through digitized assets or innovative VR projects. Recently, the whiskey brand has prepared to leap of faith in the revolutionary spaces.
Jack Daniel’s confirms to join metaverse
Jack Daniel’s has recently realized the significance of emerging and popular platforms like NFT and metaverse. Mike Kondoudis, attorney for intellectual property trademark, first circulated the news regarding filing three NFTs and metaverse trademarks with the USPTO (the United States Patent and Trademark Office). In a blog post, he shared details of the filings, which include:
- Digital wallets and collectibles
- NFT authenticated media
- Virtual beverages, clothing and barware
Though the firm’s actual plan is still unclear, the filing content indicates their NFTs will feature text, artwork, video and audio that will belong to a wide array of products from clothing to barware.
Well, there’s more to the story; Jack Daniel’s has also filed an application for computer software that might be used as a digital wallet; you can get information about different beverages.
Liquor brands and their love for NFTs
Digital arts have gained prominence in almost every industry; it won’t be wrong to say liquor brand is another emerging market using NFTs. A primary catalyst for these brands to release tokenized assets is their authenticity and uniqueness. When whiskey or any liquor product gets a digital tag, it is sold directly to the customer without involving any third party, which helps determine a fixed price.
Brands like Metacask have deployed blockchain transactions to eliminate the hefty and long documentation process when buying or selling barrels from distilleries.
Hopefully, Jack Daniel’s will surprise us all with their new venture. Alcohol brands must comply with legal frameworks when attaching tokenized assets with their products. Till the assets are out, keep a close watch on the brand and enjoy your drink.