Nike tops charts for brand NFT revenues

Nike dominates the list of the brands that have generated the most revenue from selling non-fungible tokens (NFTs), the name given to one-of-a-kind digital assets which can be bought and sold on by consumers and asset collectors alike.

Why it matters

NFTs have become a hot topic in marketing circles, but the hype frequently outweighs any tangible revenue benefits. Bigger brands, in particular, may stand to gain the highest financial payouts simply because they have the most sizable audiences.

The top five

Figures from analytics company Dune, reported by Cointelegraph, provided an insight regarding which brands were performing strongly when it came to NFT sales:

• Nike, the sportswear giant, led the charts with $185.4 million in its total primary NFT revenue, or sales made directly by the brand to buyers. This figure was split into $93.1 million in primary sales and $92.2 million in royalties.
• Secondary sales of Nike’s NFTs, where owners sell their token to other buyers, reached $1.3 billion from approximately 67,530 transactions.
• Dolce & Gabbana, the high-end fashion line, took second spot, with $25.7 million in direct NFT revenue, including $23.1 million from primary sales and $2.5 million in royalties. Over 9,000 secondary transitions were cumulatively worth $20.2 million.
• Tiffany, the luxury retailer, claimed third position, with primary NFT revenues of $12.6 million. A relative newcomer to this space, its tokens had seen only 74 secondary transactions, but they did generate $3.4 million.
• Gucci, another premium fashion brand, followed next with $11.6 million in direct revenue from its non-fungible tokens. Over 4,000 secondary transitions had yielded $31.2 million in value.
• Closing out the top five was adidas, a rival to Nike in the sportswear segment. Its primary NFT revenue was almost $11 million, with more than 51,600 secondary transactions collectively being pegged at $175.8 million.

Sourced from Cointelegraph