In accordance with a Jan. 15 submit by CoinGecko on X, just below half of the world’s world trend manufacturers, together with Adidas, Nike, and Puma, have NFT collections.
This launch comes on the identical time the OpenSea CEO, in a Bloomberg interview, expressed the platform’s intention to develop probably the most compelling use instances for non-fungible tokens (NFTs) amidst a decline in buying and selling volumes.
Methodology: This research examined NFT collections launched by the worldwide prime 50 attire manufacturers, primarily based on Brandirectory’s 2023 market cap rating and publicly obtainable data, as of January 15, 2024. NFT collections used as mint cross and digital wearables had been excluded.
— CoinGecko (@coingecko) January 15, 2024
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The research states that 9 manufacturers have a sole NFT assortment, whereas six have launched two NFT collections every. Relating to the timeline, most trend manufacturers initiated their inaugural NFT collections in 2021 or 2022. Nevertheless, exceptions to this pattern embrace Cartier, The North Face, and Ralph Lauren, which entered the NFT area in 2023 amidst the NFT bear market.
The thread states that Adidas is the distinguished NFT model within the conventional attire sector, boasting 12 NFT collections and that includes a devoted web3 inner crew named the Three Stripes Studio. The inaugural trend NFT assortment, “Into the Metaverse,” was unveiled by Adidas in late 2021.
One other key participant within the conventional realm venturing into trend NFTs is Nike, which has launched 9 NFT collections to this point. Nike gained consideration in late 2021 with the acquisition of web3 studio RTFKT, acknowledged for its avant-garde designs and Clone X profile image NFTs.
Sportswear manufacturers are on the forefront of the standard attire business’s embrace of trend NFTs, evidenced by Puma securing a place within the top-three trend NFT rankings.
Learn extra: CoinGecko’s X accounts breached by hackers
