Nike leads D&G, Tiffany and others in revenue from NFT sales

U.S. sportswear brand Nike has generated the highest revenue from NFT sales among large brands, according to latest figures from blockchain research project Dune Analytics. 

Nike amassed US$185 million revenue from NFT sales to top the list of the world’s highest-earning brands, the data, released on August 22, showed.

This was about seven times the amount generated by Italian luxury fashion brand Dolce & Gabbana (D&G), which came second on the list with a total revenue of US$25 million.

The top five on the list was dominated by sports or fashion brands. Luxury jewellery retailer Tiffany was ranked third with US$12 million, while Gucci claimed the fourth place with US$11 million. Nike’s competitor, Adidas, was in fifth place with a revenue of US$10 million.

Nike items also saw more than 67,000 transactions on the secondary market, the highest among all brands, involving US$1.29 billion in value. Adidas came second in terms of transaction numbers on the secondary market, with some 51,000 cases involving US$175 million.

Among Nike’s NFT collections, CloneX has generated the highest royalty fees, at US$39.9 million, followed by Nike Sneakers-themed NFT collection MNLTH which generated US$24.22 million for the brand.

Last December, Nike acquired design studio RTFKT, the creator of the CloneX NFT collection. When Nike and RTFKT launched the Dunk Genesis CryptoKick NFTs earlier this year, customers were paying for between US$4,000 and US$9,500 at auction for the virtual shoes, according to media reports.