Brands Experiment With NFTs as Market Takes Off



McDonald’s, Clinique, and Other Brands Launch NFT Promos

Major brands from McDonald’s (MCD) to American Eagle (AEO) are dabbling in NFTs, hoping to create buzz which will drive business their way. These companies are attempting to capitalize on demand for non-fungible tokens, which has soared in recent months. In the third quarter alone, there was $10.67 billion in trading volume for NFTs—a 704% increase from the second quarter.

The strong demand has piqued the interest of companies across industries. For example, McDonald’s is giving away 10 McRib NFTs, while American Eagle is selling 120 NFTs for $1 each. State Farm Automobile Insurance launched an augmented reality game which sends players looking for NFTs on college campuses. Yum! Brands’ (YUM) Pizza Hut and Taco Bell, along with Campbell Soup (CPB) and Clinique (EL), also launched NFT promotions this year.

Looking at the Long Term

Brands are currently focused on using NFTs to launch promotions, but a handful are taking a longer view, experimenting with NFTs in a variety of ways. R/GA, a digital advertising firm owned by Interpublic Group of Companies (IPG), is one example. It is helping brands develop virtual stores which will exist in metaverse platforms. One of these stores is for Vollebak, a UK clothing brand. Users will be able to buy and wear digital merchandise from the digital store. All the clothing will have a NFT attached to it.

Meanwhile, the cosmetics company, Clinique, is also tying NFTs to its products. In one NFT sweepstake launched by the company, winners get access to a selection of free Clinique products for ten years.

Challenges With NFTs

Despite all the interest in NFTs, there are reasons for companies to be cautious as they get into the NFT game. Authenticating NFTs requires a lot of energy, as does selling them. NFTs are purchased with cryptocurrency which also consumes a high amount of energy. The environmental impact of using NFTs could hurt brands’ efforts to curb their emissions.

Then there’s the potential for NFTs to be just a fad. Sure they are generating a lot of buzz right now, but it is not clear how many consumers will want to own a digital replica of a pair of jeans or a McRib NFT in the future. The NFT market is exploding and brands are taking notice. It will be interesting to see how these brands’ experiments impact the NFT industry.

Things are changing daily within the financial world. Sign up for the SoFi Daily Newsletter to get the latest news updates in your inbox every weekday.

Sign up


Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS21110902


All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store SoFi Android App, Get it on Google Play

ABOUT Meg Richardson Meg Richardson is a writer specializing in markets, technology, and personal finance. She loves breaking down seemingly complex ideas and making them readable and interesting for everyone. She holds an MFA in writing from Columbia University. When she is not writing about finance, she enjoys running in Central Park and drawing cartoons.


TLS 1.2 Encrypted
Equal Housing Lender