Apparel and footwear giant Nike Inc NKE is one of the largest public companies to make its presence known in the non-fungible token space. Here’s a look at how Nike is involved and how much money it made.
What Happened: A recent report shared on Twitter by Noah Levine shows how much large brands have made in their moves in the NFT space. Levine used data from Dune Analytics to reveal that Nike is the leader in revenue made from NFTs among the companies profiled.
“Created a comprehensive dashboard on the IRL (in real life) brand NFT landscape. Crazy to see how lucrative NFTs have been for some of the largest brands,” Levine tweeted.
Here are the top 10 companies in the report and the revenue they have made from NFTs:
- Nike: $185.3 million
- Dolce & Gabbana: $25.7 million
- Tiffany, owned by LVMH Moet Hennessy Louis Vuitton SA LVMUY: $12.6 million
- Gucci, owned by Kering SA PPRUF: $11.6 million
- Adidas ADDYY: $10.9 million
- Budweiser, owned by Anheuser-Busch InBev BUD: $5.9 million
- Bud Light, also owned by Anheuser-Busch InBev: $4.0 million
- AO (Australian Open): $1.7 million
- Lacoste: $1.1 million
- Nickelodeon, a unit of Paramount Global Inc PARAPARAA: $583,000
- The revenue figures come as the cut for the companies on primary and secondary sales of NFTs.
Nike had 67,251 transactions tracked with $1.29 billion in volume on secondary markets and $93.1 million in primary sales.
Related Link: How To Buy NFTs
Why It’s Important: The data shows that Nike is the dominant big brand in the NFT space. The dominance comes after the apparel company purchased RTFKT in December 2021 and partnered on several NFT collections with the popular NFT brand.
“This acquisition is another step that accelerates Nike’s digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming and culture,” Nike CEO John Donahoe said at the time of the RTFKT deal.
Along with Nike, the list shows that several large apparel and luxury brands have made millions of dollars in revenue from their NFT collections. Budweiser and Bud Light also had strong drops in the NFT space.
Photo: Robert Way via Shutterstock
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.