Apparel and footwear giant Nike Inc (NYSE: NYSE: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 (NYSE:TWTR) 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 (EPA:LVMH) (OTCMKTS: LVMUY): $12.6 million
- Gucci, owned by Kering (EPA:PRTP) SA (OTCMKTS: PPRUF): $11.6 million
- Adidas (ETR:ADSGN) (OTC: ADDYY): $10.9 million
- Budweiser, owned by Anheuser-Busch InBev (NYSE: 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 (NASDAQ: PARA)(NASDAQ: PARAA): $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.
CloneX from RTFKT has a floor price of 6.35 Ethereum (CRYPTO: ETH) at the time of writing or around $10,461. A Nike Cryptokicks launch with RTFKT has a floor price of 0.62 ETH.
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.