Premium beer maker Budweiser is the latest to hop on the NFT mania train after purchasing beer.eth ENS for 60 ETH (approx $94,000+). They have also acquired “Life of the Party” of Tom Sachs Rocket Factory for 8 ETH (approx $25,000+) featuring the work of American artist Tom Sachs. Apart from beer.eth, the address also appears to have minted the beyondbeer.eth for some reason.
After Visa’s CryptoPunk acquisition, Budweiser is the second company to acquire an NFT for it’s marketing value and to signal it’s intent to keep up with the digital age. The beer.eth is likely to be featured in upcoming advertisements and used on the social media channels. It’s also possible that Budweiser might take payments for it’s product by asking users to pay on beer.eth.
Beer.eth was minted on Oct 24, 2019 for 5 ETH by an OpenSea user Frallissimo, who was collecting lots of significant ENS addresses early on. It was then sold to an unknown account on Oct 28, 2019 for 15 ETH. The beer.eth then changed hands multiple times before being sold for 30 ETH to Budweiser.
About Ethereum Name Service (ENS)
Ethereum Name Service or ENS solves the problem of complex human unreadable Ethereum addresses to a simple .eth (amongst other variants) domains. For instance, you can bind the address 0x01b9ae223e71b215209a0b6873ef63d7925862cc to beer.eth. Now, it’s easy to interact and work with.
It eliminates the need to copy and paste long addresses. The users can purchase a simple domain with low fees to start receiving cryptocurrency, assets, and NFTs. The ENS domains themselves are ERC-721 compliant NFTs, which can be traded too.
ENS domains already are integrated with a large part of the crypto-ecosystem and growing day by day. Currently, it has compatibility with Coinbase, Rainbow, Trust Wallet, MyCrypto, MetaMask, Huobi, etc. The DApps supporting the domains are Uniswap, Etherscan, Tornado Cash, The Graph, Aavegotchi.
