NFTs are becoming overwhelmingly popular, and valuable. However, there is a pretty big problem with the industry. The simple fact is that, for the average person, these digital collectibles are far too expensive, meaning that widespread access to those that are interested in collecting these assets simply isn’t available.
Think about it, how many people do you know with a couple hundred thousand dollars to throw at a Bored Ape or Crypto Punk? Even new projects that are just beginning to get off the ground have bits in their collections that are worth thousands of dollars.
As more and more major brands continue to dive into the space, non-fungible tokens become more popular. Well, one big brand that’s diving in aims to address the accessibility issue by giving away its NFTs for free.
Pepsi to Drop Free NFTs
As mentioned above, NFTs have become overwhelmingly expensive, and as more big brands come into the frey, the popularity of these digital assets continues to climb. Now, some brands are looking to make NFTs more valuable by giving them away for free.
According to an announcement from Pepsi, that’s exactly what the company will be doing.
The soft-drink maker, known for great flavors and musical partnerships, has worked with VaynerNFT to create a collection known as Pepsi Mic Drop. The collection includes 1,893 digital collectibles, pointing to the fact that the Pepsi soft drink was founded in 1983.
Also, the announcement said that each piece in the NFT collection will feature a microphone icon. The idea of the icon is to tie the artwork and the brand to its strong history in music and pop culture. The NFTs will also feature designs inspired by different variations of the famed soft drink, including classic Pepsi, silver Diet Pepsi, and favorites like Crystal Pepsi.
Pepsi also said that the collection will be created algorithmically. This means that a computer algorithm will randomize the features of the collectibles, ensuring that each individual piece in the collection is unique.
How to Get a Pepsi Mic Drop NFT
As mentioned above the Pepsi Mic Drop NFTs are going to be free. So, you won’t be able to purchase one until a collector decides to sell a piece they’ve collected. However, if you want to be part of the drop, you can join the waitlist on December 10, 2021 at 12:00 pm EST. To do so, click this link.
Once you’ve been approved, you’ll receive a notification with instructions on how to mint your NFT free of charge. However, there is a bit of a caveat. Minting on the Ethereum blockchain is never free. You will have to pay gas fees, so make sure you have a bit of ETH in your digital wallet to cover these fees.
Once you’ve been approved, you’ll be able to mint a piece of the collection on the Ethereum blockchain on December 14, at 12:30 pm EST. While there will be 1,893 pieces in the collection, only 1,843 will be available to be minted, which brings us to our next point.
And this is probably the most important point to consider.
There’s likely to be a ton of demand for the collectibles. Consumers that have wanted to get into the NFT space but have been priced out will be excited for the opportunity to get their hands on a free token. Not to mention, Pepsi is a massive brand, and it’s putting quite a bit of marketing behind this promotion. I can guarantee that 1,843 fans don’t scratch the surface of the company’s popularity. But there’s only 1,843 pieces of the collection up for grabs.
So, if you want to get your hands on one, you’ll need to act fast! On December 10 at noon, and I mean exactly at noon, you need to be ready to register. Then, on December 14, at 12:30 pm EST, you’ll need to be ready to jump on the opportunity to mint. The faster your fingers, the better your odds of getting your hands on one of these NFTs.
Pepsi’s Looking at the Long Haul
While we’ve seen other brands announce NFT launches, we haven’t seen many hold back some from a collection and not tell the public why. However, 50 of the pieces in the collection will be held by Pepsi with no explanation other than having to do with future marketing efforts.
Given this move, it’s clear that Pepsi isn’t just launching a stunt, it’s working to build a long-term community that will value marketing having to do with pieces of the collection.
The Bottom Line
The bottom line here is simple, Pepsi’s launching a collection of nearly 2,000 NFTs celebrating its history in music and pop culture. However, it’s not just jumping into NFTs, it’s signalling interest in taking part in the long-term potential of these collectibles while making an effort to ensure that its collection is accessible, regardless of how deep your pockets are. That’s a great thing for the NFT industry as a whole.