After announcing a new multiyear renewal agreement with AEG, Coca-Cola is expanding in the crypto industry.
The renewed partnership, brokered by AEG Global Partnerships, will bring a brand new “Coke Studio” to Crypto.com Arena in Los Angeles, the home of the NBA’s Los Angeles Lakers and Clippers, the NHL’s Los Angeles Kings, and the WNBA’s Los Angeles Sparks.
The “Coke Studio” will offer visitors immersive fan experiences and music-driven activations all year.
In addition, Coca-Cola will continue to be the official soft drink partner of AEG’s landmark venues worldwide, such as The O2 in London, Mercedes-Benz Arena in Berlin, Accor Arena in Paris, and Qudos Bank Arena in Sydney.
Coca-Cola will also remain the official soft drink partner of AEG’s professional sports franchises, such as LA Galaxy, LA Kings, Ontario Reign, Eisbären Berlin, and Hammarby Fotboll.
Moreover, Coca-Cola will retain its exclusive pouring rights and sponsorship rights at AEG’s music festivals, such as the Coachella Valley Music and Arts Festival, Stagecoach Country Music Festival, New Orleans Jazz & Heritage Festival, and Firefly Music Festival.
Coca-Cola, crypto, and NFT
Coca-Cola has been actively exploring the potential of blockchain technology, cryptocurrencies, and non-fungible tokens (NFTs). The company has shown interest in leveraging these technologies to enhance its brand presence and engage with its global audience in new and exciting ways.
In July 2021, Coca-Cola partnered with Decentraland, OpenSea NFT marketplace, and Tafi to organize a digital collectibles auction on World Friendship Day. This auction featured NFTs created by Coca-Cola to celebrate elements core to its brand. The NFTs were reinterpreted for the virtual world, allowing users to engage with Coca-Cola uniquely.
Coca-Cola has also tried to integrate blockchain technology into its supply chain management. In August 2021, Coke One North America (CONA), a tech partner of Coca-Cola bottlers in North America, adopted blockchain technology to improve efficiency in its supply chain processes.
Additionally, Coca-Cola has ventured into accepting cryptocurrencies as a form of payment. In collaboration with Centrapay, the company enabled Australian and New Zealand residents to purchase Coca-Cola products from vending machines using Bitcoin and other cryptocurrencies.
More recently, Coca-Cola announced the launch of a surprise NFT collection on the Polygon blockchain. While the initial offering is limited to Coca-Cola’s Serbian division, it demonstrates the company’s continued interest in exploring the potential of NFTs.