Coca-Cola to Release Pride-Related NFTs to Celebrate Gender Diversity

Coca-Cola has announced the launch of its NFT series, dedicated to the LGBTQ community around the world. The Pride-themed series of digital collectibles is being designed in collaboration with Rich Mnisi, a South Africa-based fashion designer and advocate for LGBTQ+ rights. The NFT series will have a total of 136 pieces and is intended to propagate the idea that ‘love' is an energy that cannot be destroyed, but can be transferred and changed in form.

This project is being backed by the Polygon blockchain. Each NFT of the Cola-Cola Pride series will showcase the classic glass bottle of the beverage, refracting rainbow-like colours around it.

Glimpses of the NFTs have emerged on social media.

The digital collectibles from this series will be available for purchase in Polygon (MATIC) cryptocurrency. Presently, each Polygon coin is trading at $0.50 (roughly Rs. 38.70) as per Gadgets 360's crypto price tracker.

The capital collection from the sale of these Pride-themed NFTs will be donated to OUT, an LGBTQ+ charity selected by Mnisi.

Coca-Cola, that launched in 1886, celebrated its 136th year in business this year in May.

“Throughout its 136-year history, Coca-Cola has brought people together through shared moments of connection. We are excited to be releasing the Coca-Cola Pride collection, a unique series of digital collectibles that uplift, create visibility for, and give back to the community's members,” said a blog-post by Coca-Cola.

This is not the first time that the beverage giant has forayed into the NFT space.

Last year, Coca-Cola launched a four-piece NFT collection marking the International Friendship's Day. The auction of those pieces fetched over $575,000 (roughly Rs. 4.5 crore), Coca-Cola had claimed.

In 2021, Coca-Cola's major rival Pepsi also launched an NFT series that included 1,893 pieces of a microphone visual, inspired by Pepsi flavours like the Classic Blue Pepsi, Silver Diet Pepsi, and Red Pepsi Wild Cherry, among others.

As per reports, the volume of NFT sales crossed $25 billion (roughly Rs. 1,84,700 crore) in 2021.