Fast Food Giant McDonald’s Set To Launch New NFTs This Week

Updated: 21 August 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

Despite the non-fungible token sector enduring a challenging bear market, institutions, investors, and large companies persist in entering the space and enhancing their technological integration. The fast food behemoth McDonald’s is the latest company to dive deeper into crypto with new digital collectibles.

McDonald’s Set To Launch Free NFTs

In an August 19 blog post, McDonald’s confirmed plans to launch a new free non-fungible token this week. The food industry giant plans to bring ‘Grimace’ NFTs to the masses while giving holders exclusive treats in the future. The upcoming NFTs will mint exclusively on Polygon, an Ethereum scaling solution.

This food industry giant is about to launch a free NFT mint soon!

McDonald's plans to bring ‘Grimace’ to the masses whilst giving holders exclusive treats in the future.

Here's everything you need to know.👇🧵 pic.twitter.com/bur1NABI8t

— Kermit 🐸 (@crypto__kermit) August 21, 2023

Established in 1940, McDonald’s Corporation is an American multinational fast food chain that operates as a restaurant. McDonald’s is the world’s largest fast-food restaurant chain, serving over 69 million customers daily in over 100 countries and over 40,000 outlets. The food chain is best known for its hamburgers, cheeseburgers, and French fries.

McDonald’s has entered the crypto market despite the non-fungible token market suffering a brutal comedown in recent weeks. The NFT market slump began sometime in June and has left many NFT floor prices shielding more than 70% of their value.

McDonald’s NFT Overview

In a recent giveaway event in Singapore, McDonald’s introduced its renowned purple character ‘Grimace’ as NFTs. The highly anticipated NFT collection will feature a limited edition of 2,000 NFTs hosted on a polygon network. The NFT collection will feature ‘Grimace’ with different expressions and accessories.

Unfortunately, these NFTs will only be accessible for free exclusively through the McDonald’s mobile app in Singapore. Each NFT will be “soulbound,” preventing it from being transferred from the wallet that initially mints it. Moreover, there won’t be any secondary sales for this project. The project is designed as a complimentary memento for McDonald’s customers.

Users can mint the NFTs using a crypto wallet such as MetaMask or through Web3Auth, a service allowing users to log in using their social media accounts to establish a crypto wallet. It’s not the first time McDonald’s is launching an NFT project.

Last month, its Hong Kong division introduced a playable world within Sandbox, incorporating NFTs. During the 2021 NFT Bull Run, its U.S. branch launched commemorative McRib sandwich NFTs, and the French division featured pixilated Big Mac NFT artwork.