Nike Has Raked in $185 million from its NFT Sales PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Nike Has Raked in $185 million from its NFT Sales

Time Stamp: August 23, 2022 1:07 AM

The Non-Fungible Token (NFT) exposes traditional corporations with the biggest revenue from digital collectible transactions to date, including the clothing company Nike at the top of the list.

Nike has generated a total of $185.26 million in revenue, according to information from Dune Analytics that NFTGators supplied. The company derived this number from a total of 67,251 transactions.

 NFTs are now being embraced by fashion and entertainment firms as a fresh channel for reaching their global clientele and fan bases. In addition to purchasing well-known NFTs like the CryptoPunks & Bored Ape Yacht Club (BAYC), many brands also introduced their own NFT collections, further demonstrating the widespread desire.

Increasing Number of Brands Coming into NFTs

These brands’ foray into NFTs appears to be paying off now since a sizeable amount of productivity has resulted from their investment. Dolce & Gabbana comes in second on the list of companies with NFT exposures, according to Dune Analytics data, with a revenue of $25.65 million. Adidas, Gucci, and Tiffany are among the top five brands with the highest NFT revenues.

The vast majority of brands that have exhibited enthusiasm for and dedication to NFTs have experienced an outstanding return. This accomplishment demonstrates that Web3.0 is not wholly a waste of time or money. The Dune Analytics data’s explanation of where royalties from each collection’s NFT were earned is a very important piece of information.

Since the launch of the collection, Nike has made a total of $92.1 million in royalties, showing that many secondary sales of the respect NFTs have occurred. Tiffany, Budweiser, Bud Light, and the Pepsi Mic Drop are the only top 10 brands featured that have not generated any transaction sales. This suggests that either the secondary markets haven’t seen the NFTs yet, or collectors are hoarding them to sell much later.

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