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‘Masterpiece’ Collection Fetches More Than $500k in Coinbase Drop
08-18-2023

"Masterpiece"—a digital art collection curated by Coca-Cola—brought in $543,660 this week during Coinbase’s “Onchain Summer” event celebrating the launch of the cryptocurrency exchange platform’s Base blockchain.

During the 72-hour sale, collectors snatched up more than 80,000 minted iterations of the eight digital artworks, which mash up timeless masterpieces like "The Scream" by Edvard Munch and "Girl with a Pearl Earring" by Johannes Vermeer with contemporary creations from emerging talents like Fatma Ramadan, Aket, Vikram Kushwah, Stefania Tejada and WonderBuhle.

Each collectible intertwines with the Coca-Cola bottle for a one-of-a-kind convergence of iconic brand imagery, classic art and contemporary creativity in the digital realm. The NFT (non-fungible token) collection draws inspiration from the global Coca-Cola “Masterpiece” campaign and hero film, which depicts art students sketching select paintings on display in a gallery. When one student appears uninspired, an arm from a painting reaches across the gallery to grab the Coke bottle from Andy Warhol’s pop-art masterpiece. From there, it’s relayed from works including JMW Turner’s “The Shipwreck”, “The Scream” and Van Gogh’s “Bedroom in Arles” before finally landing with “Girl with a Pearl Earring”, whose subject opens the bottle for the student in need of inspiration and refreshing upliftment. The film bridges the worlds of classical and contemporary art by featuring work from emerging creators from Africa, India, the Middle East and Latin America.

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Coca-Cola Brings Together Iconic Andy Warhol Painting with Illustrious Roster of Master Classics and Contemporary Works in New Global ‘Masterpiece’ Campaign
03-06-2023

An ice-cold bottle of Coca-Cola journeys from canvas to canvas—starting with Andy Warhol’s 1962 Coca-Cola [4] and continuing to a refreshingly diverse and culturally rich mix of classic and contemporary paintings before ultimately landing in the hands of an art student in need of creative inspiration—in a new global campaign titled “Masterpiece”.

The latest expression of the “Real Magic” brand platform celebrates how Coca-Coca provides uplifting refreshment in moments that matter. The campaign’s creative centerpiece is a short film set in an art museum, where students are sketching select paintings on display. As one student appears uninspired, an arm from a painting reaches across the gallery to grab the Coke bottle from Warhol’s pop-art masterpiece. From there, it’s relayed from works including JMW Turner’s “The Shipwreck”, Munch’s “The Scream” (re-colored lithograph) and Van Gogh’s “Bedroom in Arles” before finally landing with Vermeer’s “Girl with a Pearl Earring”, whose subject opens the bottle for the student in need of inspiration and refreshing upliftment.

In addition to these universally recognized paintings from the past century, the film bridges the worlds of classical and contemporary art by featuring work from emerging creators from Africa, India, the Middle East and Latin America.

“‘Masterpiece’ is not a story in which Coke appears… Coke is the story,” said Pratik Thakar, Global Head of Creative Strategy and Integrated Content for Coca-Cola.“True to the spirit of the brand—and not unlike the way a synchronized supply chain collaborates to seamlessly deliver ice-cold Coca-Cola to consumers at just the right time—a diverse collection of artwork spanning multiple genres, geographies and generations comes together to uplift a slumping teenager. Creating human connection and bringing enchantment to everyday moments is what ‘Real Magic’ is all about.”

Coca-Cola has served as a medium-agnostic muse for decades, with artists reimagining its iconic bottle and brand attributes. Warhol’s authentic celebration of work provided the jumping-off point for the film, which curates a creative collision of centuries of art movements and masters from the past and present.

“We are excited to connect with Coca-Cola to showcase one of Andy Warhol’s most iconic works alongside some of the world’s most universally loved masterpieces,” said Michael Dayton Hermann, Director of Licensing, Marketing, and Sales at The Andy Warhol Foundation for the Visual Arts. “These pieces, paired with works by emerging artists from around the globe, celebrate the inspirational power of visual art through the magical lens of Coca-Cola.”

“Masterpiece” also includes an online gallery featuring interviews with emerging artists from the nearly two-minute hero film, as well as 3-D billboards and a series of digital collectibles. The campaign launches this month in Latin America, followed by Asia and other markets later this year.

Coinbase Enlists Coca-Cola, Atari Ahead of Base Mainnet Launch

4th August 2023

In the run-up to launching mainnet for its Ethereum scaling solution, Base, next week, Coinbase has enlisted mainstream brands like Coca-Cola, Atari, OpenSea, Pixelmon, and Showtime to offer daily mints of on-chain collectibles.

The mints will highlight "art, music, gaming, advocacy, and more" leading up to the August 9 launch for Base mainnet, Coinbase vice president of product Max Branzburg wrote in a blog post. The daily mints are part of what the company is calling "Onchain Summer."

The company also announced that it will be giving away more than 100 Ethereum in grants—worth approximately $183,000 at the time of writing—to teams building apps on Base.

Coinbase first said it was building an Ethereum scaling solution in February, making it the first publicly traded company to launch a layer-2 network on top of Ethereum. It's still the only publicly traded company to have done so.

Base will be “a rollup agnostic superchain powered by Optimism,” according to Coinbase. The company has been adamant that it will not launch a token for Base. But it's worth noting, that both Optimism and, its direct competition Arbitrum, initially launched their networks without tokens.

Optimism has since airdropped its OP governance token to early adopters of its network and Arbitrum had its own airdrop earlier this year.

Coinbase Is Building Its Own Ethereum Layer-2 Network Called 'Base'

When Coinbase announced its Base testnet, there was more than $6 billion worth of Ethereum on layer 2s, according to L2Beat. But in the past six months, that amount surged to more than $10 billion worth of ETH.

In that time, the San Francisco-based crypto exchange also attracted the attention of the Securities and Exchange Commission (SEC).

On June 7, the SEC filed a lawsuit against Coinbase. In it, the U.S. securities regulator alleged that Coinbase—which has traded on the Nasdaq under the COIN ticker since April 2021—should have been registered as an exchange, clearing house, and broker and that it's been selling unregistered securities.

Since then, Coinbase CEO Brian Armstrong told the Financial Times that the SEC every asset available on Coinbase's exchange except for Bitcoin was a security and should not be available for trading.

"And, we said, well how are you coming to that conclusion, because that's not our interpretation of the law," Armstrong told the news outlet. "And they said, we're not going to explain it to you. You need to delist every asset other than Bitcoin."

Since the FT report earlier this week, Coinbase has clarified that it thinks parts of the interview lacked important context.

"The interview as published by the Financial Times omitted critical context regarding our conversations with the SEC in the US. Whether deliberately or as a result of an oversight, the author implied that the SEC ordered Coinbase to 'halt all trading of every crypto asset other than Bitcoin,'" a company spokesperson told Decrypt. "As stated by the SEC itself further in the article, its enforcement division did not make formal requests for 'companies to delist crypto assets.'"

Editor's Note: This article was updated to include a comment from Coinbase about the comments CEO Brian Armstrong made to the Financial Times.

Coca-Cola Masterpiece NFTs sold at Coinbase summer event
This is not Coca-Cola’s first foray into NFTs, having previously sold one at auction for $575,000.
(Just Drinks)

By Conor Reynolds

The Coca-Cola Co. is selling a range of NFTs that feature images from its ‘Masterpiece’ media campaign.

There are eight NFTs (non-fungible tokens) available to purchase as part of ‘Onchain Summer’, a blockchain promotional event held by Coinbase, a cryptocurrency exchange platform.

The collection features classic masterpieces like Edvard Munch’s The Scream and Vermeer’s Girl with a Pearl Earring, mixed with works by contemporary artists such as Vikram Kushwah and Fatma Ramadan.

Coca-Cola’s Masterpiece advertisement was created by the London-based creative agency Blitzworks. The advert featured famous artworks from the last few centuries coming to life and mixing with modern works.

NFTs are digital assets that can be bought and sold like any other piece of personal property but have no physical form. Most commonly they are known as files for digital artworks, however, the underlying technology, blockchain, has also been used to create ownership and provenance systems.

Last year, online whisky retailer The Whisky Barrel created a NFT system that acts as a “digital provenance certificates” platform for premium spirits.

The launch of the batch of NFTs is not Coca-Cola’s first foray into non-fungible tokens. In 2021, the drinks giant released a one-off NFT in aid of Special Olympics International that made just over $575,000 at auction.

Speaking to Just Drinks in 2021, Pepsi head of marketing Todd Kaplan said NFT collectables were an emerging trend. “We’d be silly not to be looking into it,” said Kaplan. Pepsi released its NFT Mic Drop collection later that year.

In 2021, Pernod Ricard launched its own NFT in the form of digitally rendered iteration from Royal Salute. The following year, William Grant & Sons teamed up with the Bored Ape Yacht Club to create an NFT for its Monkey Shoulder Scotch whisky brand.

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A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio and other types of digital files. Access to any copy of the original file, however, is not restricted to the buyer of the NFT. While copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with a proof of ownership that is separate from copyright.

The idea of using blockchains to secure digital assets in the early 2010s led to the first notable usage of NFTs only a couple of years ago in 2017. Since then, there has been an increased interest in using NFTs. Blockchains like Ethereum, Flow, Tezos, and dGoods have their own standards when it comes to supporting NFTs but each works to ensure that the digital item represented is authentically one-of-a-kind. This exclusivity of ownership is what gives NFTs value and has resulted in increased speculation. NFTs are now being used to commodify digital assets in art, music, sports, and other popular entertainment. NFTs are also being used to verify records in financial and healthcare systems.

The popularity of NFTs has led to a growing impact on the cryptocurrency economy. The NFT market value tripled in 2020, reaching more than $250 million. The rise of NFT transactions has also led to increased environmental criticism. The computation-heavy processes associated with proof-of-work blockchains, the type primarily used for NFTs, require high energy inputs that environmental activists argue are contributing to global warming. The carbon emissions produced by the energy needed to maintain these blockchains has forced some in the NFT market to rethink their carbon footprint. (Wikipedia)

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