Sustainability and NFTs: How Food Brands Are Going Green with Blockchain
The global Food & Beverage Non Fungible Token (NFT) market was valued at USD 361.30 million in 2022 and is poised for robust expansion, growing at a compound annual growth rate (CAGR) of 16.5% throughout the forecast period. This dynamic growth is driven by increasing adoption of blockchain technology in the food and beverage sector, rising consumer interest in digital collectibles, and innovative brand engagement strategies leveraging NFTs. Market Overview Non Fungible Tokens (NFTs) have revolutionized digital ownership by offering unique, verifiable assets on the blockchain. In the food and beverage industry, NFTs are increasingly utilized to create exclusive digital collectibles, enhance brand loyalty programs, and provide new marketing channels. Food & beverage companies are exploring NFTs as a means to interact with consumers in novel ways, including limited-edition product launches, event access tokens, and digital art associated with culinary experien...