Nike has enjoyed a prosperous position among other brands. Various luxury brands have been in competition with it, but few have come on par with it. The reason is the continuous innovation, quality, and high-end services. What has recently brought it to the news isn’t the increased sales in the traditional market. Rather, it has topped the list of leading revenue makers in the NFTs amongst the top brands.
Other athletics and fashion brands are on the list, showing significant gains. Though the recent few months have brought bearishness to the market, these brands have continued to thrive. An amazing fact about the list is the presence of athletics and fashion brands more than any other category.
Here is a brief overview of how Nike has topped the list of the leading names in NFT sales.
NFT sales and luxury brands
Luxury brands have attracted considerable traffic despite the market changes. They have a specific customer base that continues purchases regardless of regular sales fluctuations. As the NFT market thrived, fashion and athletics brands understood its importance. They made their due share in revenue by creating their NFTs and selling them. A recent report shows that Nike has been the most successful of them, attracting the highest amount of revenue.
Nike has given a tough time to other companies as it retained its customers. The revenue that it made from the sale of NFTs is multifold compared to other brands. The other names in the list include Dolce and Gabbana, Tiffany, Gucci, Adidas, Lacoste, etc. The list shows the interest of customers in fashion and sports brands.
The transactions and the amount other brands earned are lower than Nike. The mentioned data is for one of the most depressive years for the market. According to available data, the market saw a slight spike in sales in May 2022, while the rest of the months have shown a decline in sales. A year back, these sales were setting new records as their value grew tremendously.
NIKE and its rising revenue
The chart given below shows that Nike has earned a whopping amount of $185 million from sales of NFTs. The total number of transactions completed is 67,251. While the primary sales volume of the company is about $93,104,204.25. In comparison, the secondary sales volume is estimated to be $1,293,959,811.39. The amount of total royalties earned from the sale of the said NFTs is about $92,165,461.48.
Dolce and Gabbana is the second company that follows Nike in sales of NFTs. The available data shows that it has made 9,036 transactions while it has made a revenue of $25 million. Tiffany and Gucci have followed, and they earned $12 million and $11 million, respectively.
The data for NFT sales has been compiled by @kingjames23 for Dune Analytics. The available data shows that Nike’s NFT sales have slowed down over the last three months and still remain in the leading position. The said company managed to earn 6,362 ETH last month. The mentioned company made it best in April when it was able to clench 12,776 ETH.
Nike seems to be years ahead of other companies in NFT sales; the credit for its sales goes to the acquisition of RTFKT.
Conclusion
Dune Analytics has shared the recent data for the sales of NFTs. According to its list, Nike is at the top of the list. While there are about five athletics and fashion companies on the list. The presence of fashion and athletics companies on the list shows the dominant trend in the sale of NFTs. Nike was able to earn about $185 million from sales of NFTs.
