While the likes of Adidas and Gucci have been blazing their respective trails in the NFT world, Nike is a whole other game. According to the latest reports from NFTGators, the sportswear giant has managed to really carve out its own lucrative space – generating more than $185 million in revenue from NFT sales.
In contrast, the likes of Dolce and Gabana trailed a distant second with $25.6m, while Gucci has only raised $11.5m so far.
The closest competitor to Nike – Adidas – was also quite far behind with a revenue of $10.9m from its NFT transactions.
Nike's NFT-related projects have made over $185M in revenue, positioning it as the biggest earning brand from NFTs.@DuneAnalytics dashboard by @nlevine19. pic.twitter.com/UDD90kz8Af
— NFTgators 🐊 (@NFTgators) August 22, 2022
Some of the contributing factors to this came from its partnerships with well-established NFT creators like RTFKT, for example. Following on from this, in April, Nike released CryptoKicks – its first collection of digital sneakers. Comprised of 20,000 NFTs, one NFT, which was created by Takashi Murakami was sold for a grand total of $134,000.
Across that same month, Nike saw a record number of transactions at 12.7k, a jump from 11.3k in December 2021.
While this is an impressive feat from Nike, there is a broader decline that has been happening in NFTs. With visible declines happening over July compared to stronger months like March and April.
This article was first published on BlockchainGamer.biz.
