In accordance with a Jan. 15 submit by CoinGecko on X, just below half of the world’s international style manufacturers, together with Adidas, Nike, and Puma, have NFT collections.
This launch comes on the identical time the OpenSea CEO, in a Bloomberg interview, expressed the platform’s intention to develop probably the most compelling use instances for non-fungible tokens (NFTs) amidst a decline in buying and selling volumes.
Methodology: This examine examined NFT collections launched by the worldwide prime 50 attire manufacturers, primarily based on Brandirectory’s 2023 market cap rating and publicly accessible data, as of January 15, 2024. NFT collections used as mint cross and digital wearables had been excluded.
— CoinGecko (@coingecko) January 15, 2024
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The examine states that 9 manufacturers have a sole NFT assortment, whereas six have launched two NFT collections every. Concerning the timeline, most style manufacturers initiated their inaugural NFT collections in 2021 or 2022. Nonetheless, exceptions to this pattern embody Cartier, The North Face, and Ralph Lauren, which entered the NFT area in 2023 amidst the NFT bear market.
The thread states that Adidas is the distinguished NFT model within the conventional attire sector, boasting 12 NFT collections and that includes a devoted web3 inner workforce named the Three Stripes Studio. The inaugural style NFT assortment, “Into the Metaverse,” was unveiled by Adidas in late 2021.
One other key participant within the conventional realm venturing into style NFTs is Nike, which has launched 9 NFT collections so far. Nike gained consideration in late 2021 with the acquisition of web3 studio RTFKT, acknowledged for its avant-garde designs and Clone X profile image NFTs.
Sportswear manufacturers are on the forefront of the standard attire business’s embrace of style NFTs, evidenced by Puma securing a place within the top-three style NFT rankings.
Learn extra: CoinGecko’s X accounts breached by hackers
