Blockchain technology has been proven to have many more applications than just cryptocurrencies. For instance, another type of blockchain-based digital asset, non-fungible tokens (NFTs), has attracted much interest from individuals and companies. These assets have specific traits that make them particularly suitable for businesses to create a unique brand identity. No wonder several top brands have launched their own NFT projects. Let us look at some of the most notable cases.
1. Nike
This giant sportswear manufacturer was one of the first top brands to have demonstrated interest in NFTs. Nike acquired RTFKT Studios, a digital asset creator, in December 2021. Nike is represented in the NFT world by the CloneX avatars created by RTFKT Studios. These NFTs could pave the road for Nike to enter the metaverse. Nike also issued 19,000 Cryptokicks iRL sneakers, customizable NFT sneakers on the Ethereum blockchain. Nike has reported nearly $183.7 million in total NFT revenue.
2. Adidas
Adidas, another giant sportswear company (and competitor of Nike), entered the NFT arena with the “Into the Metaverse” NFTs. All 30,000 of these NFTs were minted within a few hours of going up for sale. This project was possible thanks to the collaboration between Adidas Originals and NFT pioneers Bored Ape Yacht Club, Punks Comics, and GMoney. These NFTs sold for 0.2 ETH each, giving owners access to exclusive physical goods and upcoming digital experiences. Adidas sold more than $22 million in NFTs.
3. Tiffany
This renowned jewelry manufacturer released a collection of 250 custom NFTs named NFTiff. These NFTs can become a CryptoPunks pendant and a physical pendant created by Tiffany & Co. The physical pendant is made of 18-karat gold and 30 gemstones. NFTiff owners also have access to a digital rendering of the pendant. Tiffany reported $12.6 in NFT revenue.
4. Gucci
This top luxury brand seeks a solid presence in the metaverse and collaborates with several NFT projects. In May 2021, Gucci launched the Gucci Garden experience on Roblox. This Italian brand also hosted its own metaverse experience in The Sandbox, featuring the so-called “Gucci Vault Land.” Gucci was the first luxury brand to explore the metaverse and NFTs to capitalize on the opportunity to boost the sale of physical goods and sell virtual versions of its products to metaverse users. This company has reported approximately $11.6 million in NFT revenue.
5. Time Magazine
Time Magazine is one of the most-read magazines worldwide. It launched its first entire issue as an NFT, becoming the first publisher ever to tokenize a complete magazine issue. Before this event, it had introduced the TimePieces NFT collection, featuring original artworks by over 40 artists from multiple disciplines. Time directives support the initiative to strengthen the presence of this magazine in the broader Web3 ecosystem. Time has successfully sold approximately $10.8 million in NFTs.
6. Budweiser
This renowned beer brand introduced its first NFT collection, the Heritage Collection, in November 2021. It features 1,936 unique digital renderings of beer cans. The entire collection sold out within an hour of being put up for sale. Approximately 75% of these NFTs were later resold on NFT marketplaces. Budweiser reportedly sold nearly $5.9 million in NFTs.
7. McLaren
This luxury car maker has launched an exclusive digital community known as MSO LAB. This digital community is part of McLaren’s strategy to strengthen its presence in the metaverse. MSO LAB will allow the community to meet the McLaren Special Operations (MSO) teams and McLaren Automotive members. Limited-edition McLaren NFTs will give owners membership to the MSO LAB community and an evolving array of benefits.
8. Nickelodeon
This famous television children's channel surprised many by launching Slimy Seconds, the Nickelodeon NFT marketplace where users can buy their favorite cartoons as NFTs. The first NFT collection on this marketplace consisted of 10,000 unique versions of characters from Rugrats and Hey Arnold. It is basically a PFP collectibles project.
9. Lacoste
This well-known fashion house launched its first NFT project named “Undw3” (pronounced “underwater”), which represents the transition of this brand to Web3. Lacoste is set to sell 11,212 NFTs living on the Ethereum blockchain, featuring the iconic brand’s crocodile. This brand plans on establishing a solid online community to bridge the gap between physical and digital Lacoste consumers.
Final Remarks
The list above indicates that the interest in NFTs is growing. Besides hi-tech companies and startups, major brands are getting on board with new and exciting NFT projects. This way, you can own digital versions of products from famous sportswear brands or luxury fashion houses. You can always sell NFTs on dedicated marketplaces and swap the proceeds for cryptocurrencies or fiat money. LetsExchange.io allows you to trade more than 2,400 crypto coins and tokens hassle-free.
Disclaimer
Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.