Startups and rising brands are testing the virtual waters with CPG heavyweights like Campbell Soup Co. and The Coca-Cola Co. in the non-fungible token (NFT) market. NFTs are unique digital assets that may be bought and sold just like any other sort of personal property, but they have no physical form. NFTs, which are generated as tokens, are purchased by collectors through online marketplaces such as OpenSea. Some companies use NFTs to raise funding during their pre-launch stage, while others use them to generate funds for charities. To commemorate International Women’s Day, Love + Chew developed its first NFT initiative, while Mid-Day Squares is employing digital photographs to highlight an important milestone in the brand’s evolution. Mid-Day Squares turned 600 moments from the music video into unique photographs for sale as NFTs. Dream Pops creator and CEO David Greenfeld has established a virtual ice cream and candy shop with digital artwork inspired by the company’s plant-based ice cream bars. Mid-Day Squares is offering NFTs in the shape of VHS tapes to let Love + Chew decide which flavours to pursue next.

Read more from Foodbusinessnews