Glendale Base Spree Brewing Company As brands enter the world of non-fungible tokens (NFTs) as a marketing and branding method, they seek to blend traditional and modern technology. NFTs are digital certificates that show that you own the rights to a particular product, whether it is music, art, or other physical product.
The idea of Sprecher using NFT is first Milwaukee Venture Partner meeting. Matthew Friedel, Co-founder of UWM’s Disruptive Technologies Lab School of Information Studies, Milwaukee Ventures, Inc. Angel Investor / Co-founder was discussing the future of marketing with Sprecher’s CEO Sharad Chadha.
“Sprecher has all these unique logos. When looking at NFT spaces, many knowledgeable marketers created NFTs, acquired digital assets and combined them with physical merchandise. Was interesting, “says Friedel.
He also found that Sprecher has a lot of digital channels where soda is popular. Twitch is an ideal place to introduce Sprecher NFT to young tech-minded viewers. With the help of UWM student Shilpa Tiwari, a batch of Sprecher NFT cast with the brand logo was created. NFTs are still being tested with the cryptocurrency and NFT wallet app MetaMask.
Tim KiegelsukeSprecher’s Communications Director, said the venture marks a crossroads between Sprecher’s history and what the brand wants to be known in the future.
Cigelske, who just came to Sprecher about three months ago, previously taught digital media at Marquette University. Over the past few years, he has noticed an increasing number of fans for brands within online platforms such as Twitch and Reddit.
“When traffic spikes at 3am on Saturday because someone put Sprecher into the Twitch stream, they’re the same people who are attending NFTs,” Cigelske said. “It’s a kind of winding road. I don’t expect it on the surface, but it might be really perfect.”
The goal is ultimately to link the purchase of Sprecher NFTs to a physical product or experience, but Cigelske said the company is still looking into details about what it is.
“If you come to a brewery or some kind of event we went to, you’ll also have some kind of digital experience,” Cigelske said. “Another possible idea is to order a grape soda case and have an NFT to show the process for those who are crazy about grape soda online. The soda case has arrived. When you own a kind of whole experience. “
NFTs haven’t been sold yet and there’s no solid schedule for launch, but Cigelske makes the most sense to link to a summer event like Root Beer Bash when the company is in a busy season. I said there is. He said the main point in creating an NFT is to build a community within Sprecher’s fan base.
Friedel said he believes this is just the beginning of a company that uses NFTs, and that in the future all brands will do the same. Large companies such as McDonald’s and Taco Bell have already entered the NFT field.
“What’s interesting about this is that Sprecher is Wisconsin’s first custom brewery, a very old and iconic brand, but doing these innovative things in the NFT space to differentiate themselves. “We do,” said Friedel.