Footwear giant Nike’s non-fungible token (NFT) projects have brought the company’s revenue to US$185.34 million, more than seven times that of luxury fashion brand Dolce & Gabbana, which ranks second in NFT profits, according to the data published on crypto analysis platform Dune.
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- The number of secondary market transactions of Nike NFTs reached 67,500 while the secondary transaction volume topped US$1.29 billion, ranking first among all the 12 listed NFT-issued brands.
- Other sports and fashion companies occupy the top five of this NFT revenue list, followed by Dolce & Gabbana, Tiffany and Gucci, with revenues of US$25 million, US$12 million and US$11 million, respectively.
- Adidas came in fifth with US$10 million in total revenue, but was second with more than 51,000 transactions.
- Last December, Nike made headlines in the NFT world with the acquisition of digital fashion brand RTFKT Studios, which designs NFT-linked sneakers and clothes that can be worn in both the virtual and real worlds, and launched CloneX, a series of NFT avatars.
- In April, Nike and RTFKT released its first virtual sneaker collection CryptoKicks, with 20,000 NFTs including one designed by artist Takashi Murakami, which was purchased for US$134,000.
- Nike’s NFT revenue surge comes amid the NFT market cooling off. According to Footprint Analytics’ report released in August, NFT transaction volumes fell 41% in the second quarter of 2022 compared to the first quarter.
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