Collection Fetches More Than $500k in Coinbase Drop
digital art collection curated by Coca-Colabrought
in $543,660 this week during Coinbases Onchain
Summer event celebrating the launch of the cryptocurrency
exchange platforms Base blockchain.
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.
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
Warhols pop-art masterpiece. From there, its
relayed from works including JMW Turners The
Shipwreck, The Scream and Van Goghs
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.
Brings Together Iconic Andy Warhol Painting with Illustrious
Roster of Master Classics and Contemporary Works in
New Global Masterpiece Campaign
ice-cold bottle of Coca-Cola journeys from canvas
to canvasstarting with Andy Warhols 1962
Coca-Cola  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 inspirationin
a new global campaign titled Masterpiece.
latest expression of the Real Magic brand
platform celebrates how Coca-Coca provides uplifting
refreshment in moments that matter. The campaigns
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 Warhols pop-art masterpiece.
From there, its relayed from works including
JMW Turners The Shipwreck, Munchs
The Scream (re-colored lithograph) and
Van Goghs Bedroom in Arles before
finally landing with Vermeers Girl with
a Pearl Earring, whose subject opens the bottle
for the student in need of inspiration and refreshing
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.
is not a story in which Coke appears
the story, said Pratik Thakar, Global Head of
Creative Strategy and Integrated Content for Coca-Cola.True
to the spirit of the brandand not unlike the
way a synchronized supply chain collaborates to seamlessly
deliver ice-cold Coca-Cola to consumers at just the
right timea 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.
has served as a medium-agnostic muse for decades,
with artists reimagining its iconic bottle and brand
attributes. Warhols 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.
are excited to connect with Coca-Cola to showcase
one of Andy Warhols most iconic works alongside
some of the worlds 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.
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.
Enlists Coca-Cola, Atari Ahead of Base Mainnet Launch
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.
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
company also announced that it will be giving away
more than 100 Ethereum in grantsworth approximately
$183,000 at the time of writingto teams building
apps on Base.
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
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.
has since airdropped its OP governance token to early
adopters of its network and Arbitrum had its own airdrop
earlier this year.
Is Building Its Own Ethereum Layer-2 Network Called
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.
that time, the San Francisco-based crypto exchange
also attracted the attention of the Securities and
Exchange Commission (SEC).
June 7, the SEC filed a lawsuit against Coinbase.
In it, the U.S. securities regulator alleged that
Coinbasewhich has traded on the Nasdaq under
the COIN ticker since April 2021should have
been registered as an exchange, clearing house, and
broker and that it's been selling unregistered securities.
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.
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."
the FT report earlier this week, Coinbase has clarified
that it thinks parts of the interview lacked important
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.'"
Note: This article was updated to include a comment
from Coinbase about the comments CEO Brian Armstrong
made to the Financial Times.
Masterpiece NFTs sold at Coinbase summer event
This is not Coca-Colas first foray into NFTs,
having previously sold one at auction for $575,000.
Coca-Cola Co. is selling a range of NFTs that feature
images from its Masterpiece media campaign.
are eight NFTs (non-fungible tokens) available to
purchase as part of Onchain Summer, a
blockchain promotional event held by Coinbase, a cryptocurrency
collection features classic masterpieces like Edvard
Munchs The Scream and Vermeers Girl with
a Pearl Earring, mixed with works by contemporary
artists such as Vikram Kushwah and Fatma Ramadan.
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.
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
year, online whisky retailer The Whisky Barrel created
a NFT system that acts as a digital provenance
certificates platform for premium spirits.
launch of the batch of NFTs is not Coca-Colas
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
to Just Drinks in 2021, Pepsi head of marketing Todd
Kaplan said NFT collectables were an emerging trend.
Wed be silly not to be looking into it,
said Kaplan. Pepsi released its NFT Mic Drop collection
later that year.
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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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.
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
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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