EXIT Festival and SolSea have teamed up for a collaborative effort where SolSea will supply merchandise and develop non-fungible tokens (NFTs) showcasing the branding of Coca-Cola Serbia.
The joint venture aims to offer attendees of the annual summer music event in Novi Sad, Serbia, an exclusive opportunity to acquire NFTs and merchandise throughout the festival from July 6 to 9, 2023.
SolSea partners with EXIT Festival, Coca-Cola Serbia
EXIT Festival, Coca-Cola Serbia, and SolSea have recently joined forces in a collaboration that merges physical and digital elements. This partnership aims to combine tangible hoodies, a distinctive NFT collection on the SolSea marketplace on Solana, and a festival’s ambiance, with the release’s core being the “Magic Mirror” activation.
The interactive feature will exist within the Coca-Cola Serbia zone at the EXIT Festival.
According to an ALLA.ART announcement, the digital experience can be utilized when festival goers use their mobile devices to scan a QR code provided and capture a photo of themselves using the Magic Mirror.
As part of the offer, 100 specially designed hoodies are reserved exclusively for VIP members and are accompanied by paired NFTs. Additionally, the offer extends to short-sleeved and sleeveless shirts; however, it remains unclear from AllArt’s announcement whether these items are associated with NFTs.
While the current offer is limited to Coca-Cola’s Serbian division, the company has previously engaged in various ventures involving non-fungible tokens (NFTs).
In July 2021, to commemorate International Friendship Day, Coca-Cola organized an auction for four charity NFTs minted on Ethereum and made available on OpenSea, an NFT marketplace.
Furthermore, in 2022, Coca-Cola released another set of charity NFTs on Polygon to mark the same occasion.
Timing the release
While the partnership is being announced with high excitement, it is worth noting that their collaboration is coming at a time when blue-chip NFTs are struggling to maintain their market share.
Just a few days prior, floor prices for BAYC NFTs saw a 90% decrease in floor price, with Justin Bieber’s own NFT dropping by nearly a million dollars, which was believed to be triggered by criticism of Azuki NFTs, which were said to be striking similarity to their previous collection.
Although these two popular NFT collections are currently facing struggles, it may not be definitive of the success of the new collaboration, which adds a tangible element to a traditionally intangible asset.
