Budweiser Buys Beer.eth Domain Name for 30 ETH, Rocket NFT for 8 ETH

Budweiser is getting frothy on non-fungible tokens (NFTs).

• Budweiser USA changed its Twitter profile picture Tuesday to that of a rocket ship designed by NFT artist Tom Sachs.
• Crypto watchers says the beer company also purchased the Beer.eth domain name for 30 ether, or roughly $95,000.
• "Budweiser is taking its first steps into the NFT universe," an Anheuser-Busch InBev spokesperson told CoinDesk via email. "We're excited to support Tom Sachs and his Rocket Factory project and join this incredible community."
• A link to the DNS (domain name system) address on NFT marketplace OpenSea shows the rocket displayed in Budweiser's Twitter profile was bought for 8 ETH ($25,000).
• Richard Oppy, vice president of global brands at Budweiser's parent company, Anheuser-Busch InBev, told CoinDesk last month the beer brand is investing in a new NFT media shop run by internet entrepreneur Gary Vaynerchuk.
• The shop, touted as a "long-term business play" by beer company executives, will see the intellectual property of Budweiser and other beer brands packaged and sold as NFTs.

Read more: CryptoPunk NFTs Break Sales Record as Visa Sparks Buying Frenzy

Zack Seward contributed reporting.

UPDATE (Aug. 25, 12:50 UTC): Updated to include link to Twitter profile.

UPDATE (Aug. 25, 13:46 UTC): Adds comment from Budweiser spokesperson.