Pringles took to Twitter earlier this week to announce the release of a new limited-edition flavor called “CryptoCrisp,” but you won’t ever see it on the shelves of a grocery store.
According to Food & Wine, only 50 “packages” of the new flavor were made and they exist in the form of NFT artwork.
There are hundreds of articles online that set out to define what an NFT (non-fungible token) is but, from this writer’s perspective, Reuters’ definition is the clearest:
An NFT is a digital asset (like an image or a video) that exists on a blockchain. The blockchain serves as a public ledger, allowing anyone to verify the asset’s authenticity and ownership. So unlike most digital items which can be endlessly reproduced, each NFT has a unique digital signature (making it) one of a kind.
The site added, “while anyone can view the NFTs, the buyer has the status of being the official owner — a kind of digital bragging rights.”
Food and Wine reports that people who are interested in acquiring a CryptoCrisp NFT can place their bids on Rarible, a site which only accepts payments in cryptocurrency (as of March 19, the highest bid is at 0.4 WETH, which exchanges to about $731 USD). According to the site, winning bidders will receive one of 50 variations of the animated Pringles can.
The rise of NFTs
As previously reported by the Deseret News, an NFT image sold for nearly $70 million earlier this month, and Sports Illustrated reports that NFT videos of NBA highlights are currently being sold for tens of thousands of dollars on a site called NBA Top Shot.
Pringles is not the only food business breaking into the NFT trade either. Mashed reported earlier this week that Taco Bell launched a series of NFT images that are currently reselling for thousands of dollars and, according to Eater, a Pizza Hut NFT recently sold for more than $8,000.
The Verge reports that Taco Bell has already dropped hints about a second line of NFTs coming soon, so don’t be surprised if you see more virtual pizzas and Pringle cans for sale in the near future.