Analysts named Nike the #1 selling NFT among major brands
Dolce & Gabbana, Tiffany, Gucci and Adidas are also among the top 10 brands that have earned more than $260M in total from non-fungible token sales.
Nike has become the leader in NFT revenue among major brands, according to a report from market research firm Dune Analytics. The sports brand’s total revenue was $185 million, of which over $93 million was generated from initial token sales, and another $92 million came from royalties from 67,000 NFT resale transactions totaling $1.29 billion.
Dolce & Gabbana is in second place with $25 million in revenue, $2.5 million of which came from royalties. Next comes the jewelry company Tiffany, which earned $12.6 million: in early August, the brand sold out an NFT collection based on tokens from the CryptoPunks series within 20 minutes.
The top ten brands collectively earned over $263 million in non-fungible token sales. It also includes brands such as Gucci, Adidas, Budweiser, Time Magazine, and Lacoste.
Leading brands continue to make money from token sales despite NFT sales falling to an annual low of less than $1 billion for the first time since June 2021. Sales of the largest NFT marketplace OpenSea in June amounted to $670 million, which is 75% less than a month earlier.
