Thursday, December 1, 2022

Why Burger King failed at their 1st NFT

 Lets start at where we stand and then go back through a high overview of the state of Burger Kings 1st NFT launch.

 

 

 

Why do you think some companies fail at web3?

 

https://realmeals.sweet.io/ they have no forwarding setup to the 2nd market available nfts of their collection for any collectors that might of missed the collection and would want to pick up the King or the Crown or any of the celebrities that were featured in the #keepitrealmeals to help with potential sales

 

https://opensea.io/assets/matic/0x6137762be4343abd6d6a6dfe48c1231efd0838a6/328 this is a link to the individual page (this is one I collected by going to Burger King and scanning the box and picking up one of the meals) this page which in itself looks ok except for the title of the collection you will notice the title The King - GOFerTTAQ4 for the collection instead of just The King this displays on each individual page for each nft so that should be an easy fix.

 

 

The creator fee is 0 % while there is some discussion on royalty collection and how that might be treated by government agencies in the future and I could understand them coming back to say liability wise they didnt want to charge collectors/customers, you have stepped into the NFT market with this release so little late to show concern for NFT being held to a security. I will say it has come to be accepted by collectors that to help support marketing of and continued collections i.e. websites, servers, programmers who work on the NFTs that royalty is charged. If you were going to not charge a royalty that is a marketing in itself that should of been and could of been pushed on socials.

 

 

 

All of the NFT collections have no banner on the collection page

 

 

 

 

Sweet the 3rd party that partnered with Burger King didn't allow transfers on most accounts until recently from their sweet wallets they only allowed people to trade not purchase these NFTS on the marketplace for other NFTs. It was a good idea to get into NFTs for Burger King I feel but the way it looks and feels looks like it was an attempt to get people to buy something Burger King wouldn't support with this NFT collection and used NFTS to get people to buy a meal as a one off instead of trying to help build their brand through the NFTS and have future releases.

 

I would question why they didnt touch base with media partners when people were starved for NFTS stories at the time, why not go to coinmarket cap, coin gecko, coin desk, decrypt and the like for nft news to have articles written more than they did, why not have the NFT within the original commercial spots, they are a national brand and could of leveraged their influence to drive the NFT collections popularity, in app scan was short lived and could of had been more of a draw push features enabled to drive NFT box scans and in the end sell more meals. If you were looking on socials you would see employees were unaware of the campaign and didn't know what people were asking for with the boxes and or didn't have them in stock when the posters were at the stores.

 

 

 

This is not the norm unlike other NFTS that are available to be purchased and This was released a year ago now so they didnt take advantage of the drop to support the 2nd market and or collectors who were excited that Burger King as a brand entered into the NFT space instead they self contained in the Sweet wallets and lost all buzz and excitement for the collection by not allowed decentralized exchange and you cant move to your wallet to oh lets say use in a nft gallery for example. Here is a gallery I have not made via Oncyber galleries https://twitter.com/CavsTheBlockFan/status/1586929031705989120

 

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When looking at the token on polygonscan there is at least a label there of the king but again, no socials listed making this not look legit when being reviewed by anyone that looks at this link off of opensea which is currently the highest volume nft marketplace. They also havent verified their code on the contract and shows that here... https://polygonscan.com/token/0x6137762be4343abd6d6a6dfe48c1231efd0838a6#readContract

 

 

 

 

There is also poor interaction with metamask one of the most downloaded wallets to interact with, lastly the 3d nft only seems to work within the sweet wallet so to my mind thats poor programming and design as when you could interact with the nft in galleries where 3d nfts can be display its not though of by creators of this nft to make sure it works outside of sweet to be fully interoperable.