Nestlé S.A. has reportedly unveiled its first Non-Fungible Tokens (NFTs) in the Middle East & North Africa (MENA) to celebrate the launch of the TRIX® Breakfast Cereal brand.
It is worth noting that the TRIX® Globe is a limited series of two NFTs that are available for bidding from March 18th to May 13th with all the proceeds going to the charity. The NFTs are available on Opensea.io.
Emilien Mesquida, Business Executive Officer of Cereal Partners Worldwide, MENA, stated that the brand is delighted to unveil the first blockchain-based initiative intended for a humanitarian cause. All the proceeds of the NFTs auction will go to the Emirates Red Crescent.
Bahaa Boulmona, Brand Manager of Cereal Partners Worldwide, MENA, expressed that TRIX® is the world’s first and only breakfast cereal brand to have unveiled its NFT collection. This showcases the adaptability and boldness of its brands.
TRIX® offers breakfast cereals for its six fruity shapes. It is made using whole grain and contains zinc, calcium, and B vitamins. The legacy breakfast brand intends to make breakfast the fun. The TRIX® Rabbit is the mascot of the brand and is iconic in the world of breakfast cereal world.
For the unversed, NFTs are digital assets that showcase real-world objects like music, art, videos, and in-game items. They are purchased and sold online, mainly with cryptocurrency, and are encoded with the same software as several cryptos.
Although NFTs are nascent in the crypto world, they are still thriving owing to huge adoption and trading volume. Credible resources stated that the overall amount of ETH (Ethereum) traded by the NFTs recently reached 18 million ETH, making the total trade value to USD 54 billion.
Since the start of 2022, the trading volume of NFT has increased by over 220%.
Source credits: https://www.globenewswire.com/news-release/2022/04/19/2424036/0/en/Nestle-introduces-its-very-first-NFTs-in-the-Middle-East-North-Africa-with-Proceeds-to-Charity.html