Pepsi Dives Into NFT World, CoinSwitch Announces Sufficient Reserve Through Third-Party Report

Soft drink giant Pepsi on November 17, 2022, announced the launch of its first-ever non-fungible token (NFT) collection for Indian consumers.

Pepsi said the PepsiCo India Design Team in partnership with illustrator Timea Balo has exclusively curated the NFT collection for Pepsi Black, which is anchored on the brand’s pillars of innovation, self-expression, and evolution.

Pepsi will release a set of 20 NFTs minted on the Polygon Blockchain .

Pepsi said the collection is an ode to the younger generation who believe in self-expression and is deeply entrenched in technology.

“The NFT art collectibles are centred on the alterations around the classic Pepsi Black ‘Zero’ visual, inspired from brand’s passion points to portray poignant nuances such as sustainability, rhythm, movement, creativity, art, the progressing world of social media and gamification. With three variations of each theme and four variations inspired from music, the ’Pepsi Black Zero Sugar’ collection will be listed on Open Sea, the world’s first and largest Web 3.0 marketplace for NFTs and crypto collectibles,” Pepsi announced in a release.

Saumya Rathor, category lead, Pepsi Cola, PepsiCo India, said, “The ‘Pepsi Black Zero Sugar’ NFT collection will personify and bring alive the world of Pepsi Black by leveraging passion points which resonate the most with the youngsters today, such as fashion, gaming, music, social media, dance, creativity, and environment. To present an accessible opportunity to our consumers, these NFTs will be given through an engaging ‘PepsiBlackeffect’ challenge on India’s homegrown social media platform, Moj.”

Tanu Sinha, design director, PepsiCo India, added: “We have evolved our design sensibilities to connect with the younger generation to further Pepsi’s mission to create a culture that propagates innovation. The launch of Pepsi’s first-ever ‘Pepsi Black Zero Sugar’ NFT collection is another step towards this direction.”

CoinSwitch Announces Third-Party Report To Confirm Crypto, Rupee Reserves

Crypto investing platform CoinSwitch on November 17, 2022 announced an independent third-party report that confirms that its overall holdings of crypto and rupee balances are higher than those of customer’s holdings of crypto and rupee balances on the CoinSwitch platform.

According to CoinSwitch’s statement as part of its commitment to proactively strengthen compliance structures of the platform, CoinSwitch engaged a consulting firm, INMACS in July-2022 to study process and procedure of the company and carry out Agreed-Upon Procedures (AUP) in November 2022.

“The Agreed Upon Procedures executed by INMACS are under Indian Standards on Related Services (SRS 4400) issued by the Institute of Chartered Accountants of India, compatible with International Standard (ISRS) 4400,” the company said in a release.