Home - NFT - Nike Makes $185 Million From NFT Sales


August 23, 2022

Nike Makes $185 Million From NFT Sales

Nike Inc. has made an income of $185,3 million via the collecting of non-fungible tokens (NFT). This achievement propels the organization to the forefront of conventional brands in the NFT marketplaces.

According to the blockchain analytics platform Dune, the sports brand’s entire NFT income was derived from the addition of its main sales revenue and total royalties, which amounted to $93 million and $92 million, respectively. Additionally, the organization reported over 67,000 NFT transactions.

In April of 2019, Nike submitted an application to use the “CryptoKicks” trademark, which was authorized later that year, alluding to the company’s involvement in the blockchain ecosystem.

The business purchased the digital fashion brand RTFKT in December 2021 to enhance its “digital transition.” In April 2022, RTFKT introduced Nike’s CryptoKicks NFT line, which included personalized NFT shoes. Numerous people have purchased NFT shoes since its release, boosting Nike’s total NFT income to its present worth.

Dolce & Gabbana (D&G) is now the second-largest commercial brand in terms of NFT income, with a purse of $25,6 million. Additionally, the organization registered over 9,000 transactions.

In September 2022, D&G launched their NFT collection, the Collezione Genesi, which was housed by luxury NFT marketplace UNXD, which is based on the Polygon network.

Dune lists further fashion companies that have joined the NFT industry. One of them is Tiffany & Co., which occupies the third-place position with NFT sales of $12.6 million. Recall that earlier last month, the company made waves when it announced that its new NFT collection, NFTiff, would only be available to CryptoPunk holders. This led to a large purchase of CryptoPunk non-fungible tokens.

Also Read:  Five US states ordered Online Casino to close down NFTs

Gucci is another premium brand that has jumped on the NFT bandwagon. In January, Gucci collaborated with NFT-focused company Superplastic to develop the SUPERGUCCI NFT line. Gucci now occupies the fourth-largest position with NFT sales of $11.5 million.