There are 5 collections, each of which consists of 5 pieces, for a total of 25 NFT. The funds that they raise from the sale of the tokens will go to a Taco Bell charity.
The Mexican-American restaurant chain Taco Bell recently announced that they issued collectible “tacos” as non-fungible tokens (NFTs). The franchise minted its NFTs via the Rarible platform, a marketplace, and community of crypto artists and ERC-721 token collectors on the Ethereum network.
Taco Bell’s main dish Mexican tacos inspired the animated GIF images, videos, and artistic representations that the tokens contain.
Pieces that Constitute the Taco Bell Token Collection
Private buyers have already acquired the 5 collections of 5 tokens each, that is, 25 tokens in total. They could sell them again in the future, which would give the company 0.01% for each sale. The latter would invest these funds in the Taco Bell Foundation, a leadership and job coaching program for young people.
They sold some tokens at prices as low as 0.001 ETH, but the most expensive ones are already worth above 0.7 ETH. At the time of writing this article, that amount is equivalent to around USD 1,275, according to data from CoinGecko.
On their Twitter account, Taco Bell said that tacos now “live in the hearts, stomachs, and digital wallets” of the people. The original names of these token-tacos include “Gimme That”, “Ever-Crunching Tacos” and “Transformative Taco”, among others.
Among the tokens that the franchise sold is “Swivel, Taco,” which shows a picture of a taco moving rapidly. The current owner of this token is another user, who in turn is auctioning it. The highest bid that it has currently received is 0.25 ETH (equivalent to about USD 455).
Regarding the most expensive token, called “Tato Dimensions”, no one knows for sure whether its owner wants to sell it. This piece is worth 0.4 WETH (Wrapped Ether) equivalent to around USD 729, according to data from CoinGecko.
Various Tokens that Taco Bell Has Acquired
Similarly, Taco Bell has purchased or received 14 NFTs by various artists so far. Those works include a coin of Elon Musk, which artist RANA created, among other collectibles.
In recent weeks, the non-fungible token (NFT) industry has gained prominence. For example, Twitter CEO Jack Dorsey issued a tweet as an NFT, which he sold to Justin Sun for USD 2 million.
Even though most NFTs work on the Ethereum network, this concept also exists on other platforms such as Bitcoin. These types of tokens allow uploading additional data to an asset on the network in question.
It is possible to create a unique asset on the blockchain that functions as a digital proof of an image, photograph, design, or illustration. It is also possible to do this with music themes, animated GIF images, and videos. The development of various entertaining artistic proposals has emerged as a result of the functionalities of the NFT.
By Alexander Salazar
