A new internet currency is about to hit cyberspace – Coca-Cola ringpulls.

In a first-time promotional pairing, Coca-Cola has joined with Europe’s leading online auction house QXL.com for a major promotion due to break in August.

Finishing touches are being put to a special site, cokeauction.co.uk, which will auction such teen-fodder as WAP phones, CDs, computer games and MP3 players. Unlike other auctions, however, the only acceptable currency will be Coke credits, obtainable in exchange for ringpulls or labels from special promotional cans and bottles.

In addition to the prize pool there are a number of “money cannot buy” prizes such as an opportunity “for you and your friends to play the England football team five-a-side in your back garden or the Wembley turf; or the chance to see your face and message on the famous Coca-Cola sign in Piccadilly Circus”.

Says Coca-Cola Great Britain managing director Chris Banks: “We have developed this with QXL.com because the internet is the most popular forum for young people of all ages. Teens love it, but typically cannot buy things because they do not have credit cards.”

News source: Sunday Business (UK) [16-Jul-00]