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- Major consumer brand Coca-Cola has launched its NFT collection on Base.
- The piece labeled Masterpiece showcases one of the best arts in the ecosystem.
Only a few days after American cryptocurrency exchange and publicly traded company Coinbase announced the public launch of its Ethereum (ETH) scaling solution Base, the world’s largest soft drinks brand Coca-Cola has launched its first Non-fungible token (NFT) collection on the network.
Notably, Coinbase announced the new Coca-Cola NFT collection as part of its “Onchain Summer” initiative.
Based on Coinbase’s announcement, Coca-Cola is onboarding its Global Masterpiece campaign onchain with iconic works from leading and emerging artists in the digital space and on-chain art. The collection consists of some timeless artistic treasures like “The Scream”, an iconic piece by Edvard Munch and “Girl with a Pearl Earring” by Johannes Vermeer. Some other modern pieces from Aket and Vikram Kushwah also featured on the Masterpiece collection.
All of these artworks were intertwined with the Coca-Cola bottle, giving them a fresh perspective. They have been transformed into digital collectibles on the blockchain, open to art enthusiasts in the Onchain Summer event. The Masterpiece collection is perceived as more than art but rather a representation of how art, technology, and people interact onchain.
According to France-based featured artist Aket, “Coca-Cola® is a super important generational marker. Their advertisements encourage us to live our dreams every day.” Fatma Ramadan, another visual artist from Egypt whose work would equally be displayed, mentioned that she is proud to be part of the Masterpiece.
Coca-Cola’s entry is seen as one of the largest entries into the Coinbase’s Base NFT ecosystem from a consumer brand. It is seen as Coca-Cola’s way of showing other companies how to interact with the works of Web3 innovators. Some other NFT projects are expected from the likes of Zora, Showtime, Pixelmon, and Indelible later this month.
Coinbase Launches Base With a Major Intrigue
Coinbase announced the launch of the Base mainnet to the public last week, signifying the birth of a new era where public companies run their distributed networks. The scaling protocol was developed with Optimism’s OP Stack to facilitate Ethereum bridging. This means that different ETH-based networks are able to connect seamlessly.
Its beta testnet was introduced in February and Jesse Pollack, the Senior Director of Engineering at Coinbase clarified that it was modeled after ETH’s Goerli testnet with the plan to fully connect with the main Ethereum network later.
“Our goal with Base is to launch a platform that makes it really easy for developers to build apps that users actually want to use and then plug that into the Coinbase product suite to make it really easy for users to use those apps,” Pollack said at the time.
The Base protocol hosts as many as 100 decentralized applications (dApps) and service providers. It addresses the problem encountered by users on the Ethereum blockchain network. The aim is to create a platform that is more efficient for dApps using Layer-2 solutions.
Just like the much-anticipated Shibarium, Base is designed to improve the speed, scalability and security of ETH-based transactions. It uses zero-knowledge proofs to verify transactions while concealing sensitive information. Ultimately, transactions completed on the protocol are faster and cheaper with lower congestion as compared with those on the Ethereum blockchain.
