Frank's RedHot Created Its First NFT & Cryptocurrency Called Bonecoin
Laura McQuarrie — January 28, 2022 — Marketing
References: franksredhot & designtaxi
To celebrate the SuperBowl, Frank's RedHot is releasing its first non-fungible token (which is being called an edible NFT or eNFT) and its first cryptocurrency called Bonecoin. According to the spicy hot sauce brand, Bonecoin is a "wing-based currency that has nothing to do with real money.”
Hot wings are a staple game day snack and the brand is recognizing this by giving fans the chance to earn Bonecoin by scanning images of their chicken wings and sharing them. The fan who collects the most Bonecoin by the end of the campaign period will get the exclusive Frank’s RedHot NFT as well as an edible prize.
Increasingly, fans are being introduced to the world of cryptocurrency and collectible digital assets by their favorite brands also offering physical incentives alongside them.
Hot wings are a staple game day snack and the brand is recognizing this by giving fans the chance to earn Bonecoin by scanning images of their chicken wings and sharing them. The fan who collects the most Bonecoin by the end of the campaign period will get the exclusive Frank’s RedHot NFT as well as an edible prize.
Increasingly, fans are being introduced to the world of cryptocurrency and collectible digital assets by their favorite brands also offering physical incentives alongside them.
Trend Themes
1. Edible Nfts - Combining the world of NFTs with edible incentives opens up new opportunities for the food and beverage industry to engage with tech-savvy consumers in a fun and unique way.
2. Cryptocurrency Rewards - The use of blockchain and cryptocurrency as rewards is becoming a popular trend for brands looking to engage with consumers who are interested in the digital asset space.
3. Scan and Share Promotions - Creating promotions that involve fans scanning images and sharing them on social media can generate buzz and incentivize participation from consumers, increasing engagement with the brand and potentially leading to increased sales.
Industry Implications
1. Food and Beverage - By embracing new technologies such as NFTs and cryptocurrencies, food and beverage brands can stand out and differentiate themselves in the crowded market while engaging with consumers in innovative ways.
2. Advertising and Marketing - Incorporating NFTs and cryptocurrency rewards in advertising and marketing campaigns can attract a younger, tech-savvy audience and generate buzz for the brand.
3. Gaming and Entertainment - The use of NFTs and cryptocurrency as rewards in games and entertainment can offer a unique and engaging experience for users while potentially increasing revenue through the sale of digital assets.
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