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.

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.