In the fast food industry, the race for NFTs is taking its toll. McDonald’s, Burger King and now Taco Bell, all are jumping into the world of crypto-currency and NFTS!
For Taco Bell, the move dates back to March 2021 where a collection of 5 copies of taco representations in the format of animated GIFs went on sale via the Ethereum crypto-currency (ETH). Initially sold at 0.001ETH (that’s only $1.79!), the NFTs are becoming increasingly valuable (up to $2,750 for the “Ever-Crunching Tacos” copy, for example), and are available on Rarible, an art auction platform powered by the Ethereum blockchain.
For each NFT owner, the brand will offer them a gift card worth $500 that can be consumed in all the franchise’s restaurants. In addition, the proceeds issued by this sale will be donated to the Taco bell Foundation, a foundation that provides grants and scholarships focused on the education of young Americans.
As Taco Bell is part of the same group as Pizza Hut and KFC, we can expect new offerings from these major American fast food brands to join the NFTs movement.