NFT Drops Calendar has reported on how numerous fashion businesses are making significant investments in Web3 and blockchain technologies. Perhaps no other firm has been as active as Nike, and the success of its footwear and clothing is a testament to how hard it has worked in the digital space.
Nike is at the top of the list of businesses using Web3, having so far made an amazing $185 million from the sale of non-fungible tokens (NFT). Among the other top businesses are Gucci, Adidas, Dolce & Gabbana, Tiffany & Co., and other well-known labels.
Through a series of projects over the past year, Nike has been able to mix virtual goods and experiences with its famed branding rights. So, last December's acquisition of NFT company RTFKT was a significant step forward for its approach.
Two of Nike's biggest NFT collections, CloneX and MNLTH, have generated over $40 million and almost $25 million in royalties together. Noting that RTFKT is responsible for the majority of Nike's NFT collections, other well-liked releases include the MNLTH2, Mint Vial, and CryptoKick lines.
Despite the recent decline in the total number of Nike NFT transactions, this was to be expected given the general decline in the crypto and NFT markets. The renowned brand is still far ahead of the competition despite sluggish sales. The next-highest NFT earnings in the fashion business belong to D&G ($25.6 million), Tiffany ($12.6 million), Gucci ($11.5 million), and Adidas ($10.9 million).
Right now, Nike seems to be in the lead. But there might be a lot of surprises along the way if the brief histories of Web3 and NFTs are any indicator. Here at NFT Drops Calendar, we'll keep a look out for any upcoming Web3 news from clothes and fashion companies.
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