Leading brands including Nike, Gucci, Dolce & Gabbana, Adidas and Tiffany have amassed a combined $260 million worth of sales from NFTs, according to data from Dune Analytics.
Iconic brands seem to be benefiting greatly from the hype surrounding the non-fungible tokens (NFTs) sector of the cryptocurrency space.
The space has proven to be a new income line for some of the world’s most iconic brands as they now rake in hundreds of millions of dollars in additional revenue; underscoring the mass consumer appeal of digital collectibles.
Nike’s NFT drops have amassed $185.3 million in revenue, with volumes in secondary markets approaching $1.3 billion. Dolce & Gabbana has generated $25.6 million worth of NFT revenue. Tiffany, which only recently launched its NFTiff token allowing CryptoPunk holders to mint customized pendants; has amassed $12.6 million in NFT-related sales. Total NFT revenue for Gucci and Adidas was $11.6 million and $10.9 million, respectively.