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    Tuesday, October 12, 2021

    McDonald's China Celebrates 31st Anniversary With First-Ever NFT Release

    Working with Chinese blockchain Conflux, McDonald’s China has launched its first NFT to commemorate its 31st anniversary in the Chinese mainland market and the official opening of its new headquarters in Shanghai. The NFT, “Big Mac Cube,” is a three-dimensional digital token inspired by McDonald’s branding and the shape of its new headquarters building.

    Fast facts

    Some 188 “Big Mac Cube” NFTs will be distributed to employees and customers as a gift, and the NFT is connected to the Conflux wallet, McDonald’s China said.

    “McDonald’s is a young and trendy brand that has always paid attention to fashion trends and cutting-edge technology,” said Zhang Jiayin, CEO of McDonald’s China. “I am very happy that McDonald’s has become the first domestic restaurant brand to release NFT.”

    According to its official website, McDonald’s China stated the NFT is only for display and redemption and called for “prohibition of hype, over-the-counter transactions, and fraud.” The Chinese government does not support NFT speculation. The Chinese state-run media “Securities Times” once wrote to criticize NFTs as hype.

    McDonald’s is just one of the fast-food chains to have recently delved into NFT. Other companies like Taco Bell, Burger King, as well as Budweiser have previously released NFTs.

    In March, Taco Bell became the first fast-food chain to jump on the NFT trend. The company released five versions of digital art called “NFTacoBells”, selling five copies of each. The 25 total pieces of crypto-art sold in under 30 minutes on Rarible, an NFT trading platform.

    Last month, Burger King also launched an NFT campaign with the online NFT platform Sweet. The “Keep It Real Meals” initiative showcases QR codes appearing on nearly six million meal boxes. Scanning the QR codes unlocks a digital collectible, and collecting them could lead to unlocking bonus NFTs.

    McDonald’s has been making efforts to adapt to the ever-evolving digital world. Just last month, the franchise became the first major fast-food restaurant in the world to accept Bitcoin as a payment option. This was possible because of El Salvador’s adoption of Bitcoin as legal tender.

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