Nestle Launches First NFTs in the Middle East & North Africa

The giant Swiss food and drink processing company, Nestle, has created a series of non-fungible tokens (NFTs). It has created a limited number of TRIX Globe NFTs for a good cause in the Middle East and North Africa (MENA).

The TRIX Breakfast Cereal brand was launched in the Middle East and North Africa. At the time of launch, Nestle put the NFTs up for auction on Opensea. Bidding was open from March 18 to May 13. In addition, the money will go to charity.

TRIX® – The First Cereal Brand With Its Own NFT Series

The Business Executive Officer of Cereal Partners Worldwide, Middle East & North Africa, Emilien Mesquida, expressed his opinion. He said they are happy to announce the region’s first blockchain-based project for a humanitarian cause. Additionally, 100% of the earnings will go to the Emirates Red Crescent.

Furthermore, for breakfast cereal, Nestle wants to be more creative by implementing NFTs. TRIX is a breakfast cereal brand that is meant to “put the fun back into breakfast.”

In addition, Bahaa Boulmona, the Brand Manager for Cereal Partners Worldwide, Middle East, and North Africa, noted some points. Buolmona said that TRIX® is the first and only breakfast cereal brand in the world to start its own NFT series. According to him, this shows how daring and adaptable their brands are.

NFTs Taking The World By Storm

Regardless that NFTs are still very new in the cryptocurrency world, they are still making a boom in the world. This is resulting in success because of the huge trading volume and adoption they have seen.

Some insights about crypto trading are shared from the IntoTheBlock. It recently said that the total amount of Ethereum traded by NFTs recently hit 18 million ETH. This makes the total value of the trades $54 billion.

Moreover, data show that since the start of the year, the NFT trading volume has grown by more than 220%. This is the reason that more and more businesses are getting into the NFT area. An example of this is Hyundai Motor, which became the first automaker to offer community-based NFT tokens.