Who would have thought that our first article about NFTs (Non-Fungible Tokens) would be related to Pizza Hut joining the wave with a ‘Non-Fungible Pizza’? Certainly not us, that’s for sure. But, the chain’s zany offering (1 ‘byte’ of an 8-bit pizza for 0.0001 ETH) is a little more approachable than some dude selling a JPEG for more than a Picasso.
Ok, first, the medium. For a while now, some artists have been using blockchain technology to create digital files that feature serious security. These artworks (or collectibles, or whatever) can be identified using their unique digital footprint, which prevents copies of that specific file from existing. It’s like owning an original artwork versus buying a print from IKEA.
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Now, to Pizza Hut. Apparently on the cutting edge of the marketing game, they’ve decided to release a series of 8-bit ‘pizzas’ for the cost of 1 ‘bite’ of pizza. They’ve priced the pizzas in Ether, which is a blockchain currency, and the same one recently used by Christie’s for that $69M dollar sale.
At 0.0001 ETH, the Non-Fungible Pizzas (still funny) cost around 20 cents each in Canadian money. They’re selling the pizzas via Rarible, an online marketplace for NFTs. We’ve got no idea how many NFPs will be minted, but we do know they’re using Hawaiian, Pepperoni, Canadian and Margherita.
Want a slice of pizza that will theoretically last forever? This is your chance. You can learn more about the offering right here.