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2021 was an exciting year for crypto, with several well-known \u2014 some unexpected \u2014 brands entering the crypto sector. Here\u2019s looking at you, Charmin, and your toilet paper nonfungible tokens (NFTs). The year saw its fair share of moments that had crypto enthusiasts on the edge of their seats.<\/p>\n
While many people continued to talk generally about the revolutionary power of cryptocurrencies and blockchain, it seems as though 2021 was the year when the ideas underlying these technologies truly took hold of the consciousness of the mainstream. From NFTs<\/a> to Web3, there has never been more interest expressed from traditional players in relation to this fast-expanding ecosystem.<\/p>\n Here are some of the biggest moves made by major consumer brands to engage with and adopt various crypto-centric technologies \u2014 be it simply buying Bitcoin (BTC<\/a>) or releasing an NFT collection.\u00a0<\/p>\n No list of this nature can be complete without mentioning the news that probably got most of today\u2019s younger \u2014 and likely older, too \u2014 crypto investors interested in the space. In February, Elon Musk\u2019s Tesla made a bombshell announcement<\/a>, revealing it had invested a whopping $1.5 billion dollars in Bitcoin. This was nearly 8% of Tesla\u2019s $19 billion cash and cash equivalent reserves, the amount it held according to a 2020 Securities and Exchange Commission filing.<\/p>\n As soon as Musk made his foray into the world of cryptocurrencies, the value of Bitcoin shot up meteorically \u2014 rising from $38,000 to over $57,000 within roughly two weeks. Not only that, but over the course of the year, Musk revealed to the world that he had also made sizable acquisitions of other assets like Ether (ETH<\/a>) and Dogecoin (DOGE<\/a>), although he did not disclose the exact amounts.<\/p>\n Another decision that had crypto investors all over the world quite intrigued was Mark Cuban\u2019s move in March to allow fans of his NBA franchise, the Dallas Mavericks, to buy tickets and other licensed merchandise<\/a> using Dogecoin, the popular meme cryptocurrency. And while the move came as a surprise to some, for those following the crypto market closely, the decision was completely in line with Cuban\u2019s all-encompassing vision for the fledgling altcoin sector.<\/p>\n Over the course of 2021, Cuban repeatedly referred to himself as an \u201cEthereum maxi,\u201d claiming that the blockchain\u2019s fast-expanding ecosystem could easily be one of the biggest tech revolutions<\/a> of the 21st century. He also publicly hailed<\/a> Dogecoin as a superior medium of exchange than Bitcoin.\u00a0<\/p>\n In December, sportswear manufacturer Nike made its crypto debut by revealing its acquisition<\/a> of virtual sneakers and collectibles brand RTFKT. As a result of the partnership, Nike officially became the largest producer of athletic-based goods within the United States and one of the first big-name apparel brands to enter the burgeoning Metaverse ecosystem.<\/p>\n Nike CEO John Donahoe said<\/a> that the company will be able to “serve athletes and creators at the intersection of sport, creativity, gaming and culture” and “extend Nike\u2019s digital footprint and capabilities.”<\/p>\n Around the same time as Nike\u2019s aforementioned move, Adidas announced that it was entering the Metaverse<\/a> in collaboration with a number of prominent NFT projects, including Bored Ape Yacht Club, Gmoney and Punks Comic.\u00a0<\/p>\n The first venture featured pieces of the Bored Ape NFT family redrawn to feature Adidas\u2019 iconic tracksuit. Meanwhile, the Gmoney tokens were designed to leverage the influence of the prominent NFT proponent, who was recently featured on Fortune NFTy 50.\u00a0<\/p>\n Adidas\u2019 Punks Comic NFTs sought to bring together the world of nonfungible tokens and physical comic books to create a novel offering of so-called crypto comics.<\/p>\n Est\u00e9e Lauder-owned cosmetics brand Clinique released<\/a> select NFTs last year to help increase the efficacy of its existing customer loyalty system as well as add more marketing weight to its existing line of products.\u00a0<\/p>\n The prominent beauty brand allowed clients signed up for its rewards program to obtain these collectibles by simply sharing their \u201cstories of optimism\u201d via Instagram, TikTok and Twitter following a significant purchase.<\/p>\n Last year, one of the world\u2019s most recognizable brand names, Coca-Cola, released a special NFT program<\/a> to raise money for Special Olympics International.<\/p>\n As part of the charitable effort, digital collectible marketplace OpenSea hosted the auction of Coca-Cola\u2019s NFTs over a three-day period from July 30 to Aug. 1. The NFT collections were devised in conjunction with renowned digital artist and designer Tafi.<\/p>\nTesla makes waves by buying Bitcoin<\/h2>\n
Dallas Mavericks start accepting Dogecoin<\/h2>\n
Nike enters the Metaverse<\/h2>\n
Adidas refuses to be left behind<\/h2>\n
Clinique launches NFT-based customer loyalty program<\/h2>\n
Coca-Cola\u2019s novel NFT program<\/h2>\n
Luxury auction house Sotheby\u2019s accepts cryptocurrencies<\/h2>\n