As of August, 2021
Budweiser has got into hands on a new domain name. The domain name is obviously beer related. However, the choice of the extension made the deal even more exciting.
Budweiser has bought the domain name Beer.eth. This is a huge step by the American beverage company with regards to its adoption of the new craze of Blockchain technology.
.eth stands for Ethereum, a popular Blockchain company. It is the extension of Ethereum Name Service (ENS). Just like a domain name converts an IP address into a readable name. Similarly, ENS converts long crypto addresses into readable .eth domain names, as for example: YourName.eth.
This isn’t Budweiser’s lone investment in the Blockchain world. It also bought a NFT of a sketch of a rocket with the company’s name written on it. In fact, that sketch is its Twitter profile picture now. The sketch and the domain name cost the company 8 and 30 Ethereum coins, respectively. This would be equal to around $25, 000 and $94,000 respectively.
What a bold step. Well, the company hasn’t trademarked the name ‘The King of Beers‘ for nothing!