Non-Fungible Tokens (NFTs) have generated hundreds of millions of dollars in additional revenue thanks to the buzz around them, demonstrating the broad market appeal of digital collectibles.
Dune Analytics numbers, first published by NFTGators, show that popular brands including Nike, Gucci, Dolce & Gabbana, Adidas, and Tiffany have made $260 million in sales via NFTs.
How Much Have Nike and Other Brands Made?
The organization with the highest NFT success has been Nike. The sale of its NFTs has brought in approximately $185 million for the American shoemaker.
Nike has been paid over $93 million in royalties, which are sums given to original NFT producers as compensation for using their digital creations in secondary markets. The company’s NFT collection has generated primary sales of $93 million and secondary sales of $92 million.
Other businesses, in contrast, have not fared as well. For instance, the second-ranked firm in terms of NFT revenues, Dolce & Gabbana, a clothing company, has generated about $25 million from selling its NFTs. In addition, other well-known fashion companies like Tiffany, Gucci, and Adidas have profited from NFT sales to the tune of $11 to $13 million each.
In a recent study conducted by market aggregator CoinGecko, respondents predicted that the NFT industry might be worth more than $800 billion within the next two years. More formal studies estimated that the worldwide NFT business would be worth about $230 billion by the decade’s end.
