California-based fast-food chain Taco Bell is entering the booming non-fungible token (NFT) marketplace.
The fast-food giant released a collection of original taco-themed art pieces on NFT marketplace Rarible (RARI) on Sunday, which quickly sold out.
— Taco Bell (@tacobell) March 8, 2021
Taco Bell sold five different NFTs in batches of five. Each piece was put on sale for 0.001 ETH, about $1.82.
At the time of writing, the highest bid on one of the pieces was 71 RARI tokens worth about $2,459 for Ever-Crunching Tacos. Taco Bell, as the creator, will earn 0.01% of all sales.
The company says they plan to donate 100% of the proceeds from the art pieces to their Taco Bell Foundation, a registered charity that aims to “empower youth to discover and pursue their career and educational pathways.”
NFTs feature identifying data in their smart contracts that make each one unique, which means that one NFT cannot be directly replaced by another and no two are alike.
Tokens related to the NFT marketplace have been skyrocketing in value. RARI, for example, is up 112.55% in the last seven days from a low of $16.42 to a high of $34.9, according to CoinGecko.
Last week, NFT marketplace Mintable announced billionaire entrepreneur and Shark Tank veteran Mark Cuban had invested in their project.
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