NFTs Owned by 21 of the Top 50 Global Fashion Brands, Confirms CoinGecko
CoinGecko recently revealed that nearly half of the world’s global fashion brands, such as Adidas, Nike, and Puma, have jumped on the NFT bandwagon and created their own NFT collections. This announcement coincided with the OpenSea CEO’s statement in a Bloomberg interview, where he expressed the platform’s commitment to developing compelling use cases for NFTs, despite a decline in trading volumes.
According to the study, nine brands have released a single NFT collection, while six brands have gone a step further and introduced two NFT collections each. Most fashion brands began their NFT journey in 2021 or 2022, but there are a few outliers like Cartier, The North Face, and Ralph Lauren, who entered the NFT space in 2023 during the NFT bear market.
Adidas is a standout player in the traditional apparel sector, with 12 NFT collections under its belt. The brand has even established a dedicated web3 internal team called the Three Stripes Studio. Adidas unveiled its first fashion NFT collection, “Into the Metaverse,” in late 2021.
Nike, another major player in the traditional fashion industry, has also embraced fashion NFTs and has introduced nine NFT collections so far. The brand made waves in late 2021 with its acquisition of web3 studio RTFKT, known for its innovative designs and Clone X profile picture NFTs.
It’s worth noting that sportswear brands have taken the lead in embracing fashion NFTs within the traditional apparel industry. Puma, for example, has secured a spot in the top three fashion NFT rankings.
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