Quick Summary
- McDonald’s released 188 NFTs in October to celebrate its 31st anniversary in the Chinese market amid a big crypto ban in the whole country. NFTs are branded as “Big Mac Rubik’s Cube” and they are distributed amongst employees and consumers in a giveaway.
The world’s adoption of non-fungible tokens (NFTs) continues. Suddenly, every company wants to lay their hands on NFTs and jump on this strong trend. 2021 is a historic year for NFTs as they have become serious mainstream business. Another company joined this trend lately and its name is McDonald’s.
McDonald’s NFTs
Fast-food company McDonald’s in China released a set of 188 NFTs on October 8 to celebrate its 31st birthday in the Chinese market. Branded as “Big Mac Rubik’s Cube,” the NFTs will be distributed among employees and consumers as a part of the giveaway.
The Big Mac Rubik’s Cube NFTs designs are based on the three-dimensional structure of McDonald’s China’s new office headquarters, which was inaugurated along with the launch of the NFTs. The NFTs are built on the Conflux public blockchain and are created in partnership with Cocafe (digital asset creation agency), ensuring that “each work is unique, indivisible and can not be tampered with.”
Crypto ban? Not really
China decided to ban all crypto operations again in the middle of 2021. However, McDonald’s in China is trying to introduce NFTs to the public despite the government’s intention to ban all crypto operations. What does this mean? For example, a crypto exchange Huobi from China stopped new customer registrations after the China ban and they need to close down all business by the end of the year.
MCDONALD’S IS A YOUNG AND TRENDY BRAND THAT HAS ALWAYS PAID ATTENTION TO FASHION TRENDS AND CUTTING-EDGE TECHNOLOGY. I AM VERY HAPPY THAT MCDONALD’S HAS BECOME THE FIRST DOMESTIC RESTAURANT BRAND TO RELEASE NFT. MCDONALD’S CHINA’S NEW HEADQUARTERS BUILDING IS A BRAND-NEW DEVELOPMENT OF MCDONALD’S CHINA. MILESTONES. AT THIS SPECIAL MOMENT, WE USE THE FORM OF NFT TO SHARE MCDONALD’S INNOVATION, DIGITALIZATION AND TREND ART WITH EMPLOYEES AND CONSUMERS.”, SAID ZHANG JIAYIN, CEO OF MCDONALD’S CHINA.
However, NFTs which are directly undermined by the blockchain and crypto technology are given away because of McDonald’s 31st anniversary. This raises many questions and will probably cause another update on crypto regulations in the upcoming months because, despite China’s skepticism, the crypto & NFT industry continues to grow rapidly.
Conclusion
China’s government banned cryptocurrencies, but McDonald’s seems to get away with giving away free NFTs (at least for now) even though they are tokens too. This may lead to many other updates from the government. The important question now is whether China will also ban NFTs, but they may find it hard with the decentralized characteristics of the whole industry.
Sentiment: positive
more to read
The Best Selling NFT Artists in 2021
sources: cointelegraph, bitcoinwarrior
Rene Remsik
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
