March 14, 2023<\/p>\n\n\n\n
By Murtuza Merchant<\/p>\n\n\n\n
Aside from brand awareness, loyalty, and customer engagement, NFTs offer a very tangible benefit to fashion brands: new revenue streams.<\/p>\n\n\n\n
By utilizing these digital assets, retailers can sell not only physical products but also purely virtual ones, opening a world of opportunities for fashion players.<\/p>\n\n\n\n
Some well-known brands have already made millions of dollars with their NFT projects. According to data from Dune Analytics, Nike, Dolce & Gabbana, Tiffany, Gucci, and Adidas are the leading brands generating revenue from NFTs.<\/p>\n\n\n\n
Let’s explore some of their notable NFT projects and how they can inspire other brands to hop on the NFT bandwagon.<\/p>\n\n\n\n
Nike’s CloneX Collection<\/strong><\/p>\n\n\n\n Nike has made over $185 million in revenue from NFT-related projects, positioning it as the top-earning brand in the NFT space.<\/p>\n\n\n\n The sports brand earned $1.3 billion in transaction volume, with $93 million coming from primary sales of NFTs, and generated $92 million in royalties. CloneX, a collection of NFT avatars made by RTFKT Studios, tops Nike’s list of collections with its highest royalty fees generating over $39 million.<\/p>\n\n\n\n The Sneakers-themed NFT collection MNLTH generated $24.22 million, and other successful collections include Mint Vial, MNLTH2, CryptoKick, Skin Vail: EVOX, RTFKT Pod X, and RTFKT Bonus Items, all of which generated at least $1 million in royalty fees.<\/p>\n\n\n\n Dolce & Gabbana’s Collezione Genesi<\/strong><\/p>\n\n\n\n Dolce & Gabbana generated $25.65 million in revenue from NFTs. Their first NFT collection, Collezione Genesi, fetched approximately $5.65 million in sales. The collection was personally designed by Domenico Dolce and Stefano Gabbana and featured nine one-of-a-kind pieces.<\/p>\n\n\n\n Buyers of each item received not only the NFT but physical versions of the items and exclusive access to Dolce & Gabbana events. In 2022, the brand launched its second NFT collection in partnership with UNXD, offering 5,000 DGFamily Boxes that serve as a pass to a wide variety of D&G events and additional content.<\/p>\n\n\n\n Tiffany’s NFTiffs<\/strong><\/p>\n\n\n\n Tiffany earned $12.6 million from NFTs, ranking third on the list of brands leading in revenue generation from NFTs. Its recently launched “NFTiffs” (NFTs exclusively available to CryptoPunk owners) have made quite a buzz among crypto fans.<\/p>\n\n\n\n The collection is made up of 250 digital assets (each worth 30 Ethereum or $51,000 USD) that grant holders access to a one-of-one example of their Punk in the form of a bespoke pendant. All pendants will be made with an 18k rose or yellow gold base engraved with a unique Punk serial number and Tiffany logo on the back. Collectors will also receive an accompanying NFT render of their pendants.<\/p>\n\n\n\n Gucci’s SUPERGUCCI NFT Collection<\/strong><\/p>\n\n\n\n Italian luxury fashion house Gucci ranks fourth in the list, with $11.5 million made through NFTs. The SUPERGUCCI NFT collection, created in collaboration with Superplastic, helped the brand succeed in this space. SUPERGUCCI is a three-part series of ultra-limited NFTs co-created by Gucci’s Creative Director Alessandro Michele and synthetic artists Janky & Guggimon.<\/p>\n\n\n\n All drops are accompanied by an exclusive 8-inch tall ceramic SUPERGUCCI sculpture, hand-crafted by ceramicists in Italy.<\/p>\n\n\n\n Adidas’ NFT Art Project<\/strong><\/p>\n\n\n\n Adidas is another fashion brand that has made a considerable sum of money through NFTs, generating $10.9 million in revenue. The sportswear giant has collaborated with a number of well-known NFT projects, such as Bored Ape Yacht Club, Punks Comics, and GMoney. In exchange for purchasing an NFT, Adidas offers access to special physical goods like a hoodie, a tracksuit worn by the Bored Ape that Adidas owns, and upcoming digital experiences.<\/p>\n\n\n\n In addition, the brand has launched a collaborative NFT art project with Prada, which enabled the community to contribute to a large-scale digital artwork in a Beeple-style collage and earn some money for their involvement.<\/p>\n\n\n\n About the author<\/strong><\/strong><\/p>\n\n\n\n Murtuza Merchant is a senior journalist and an avid follower of blockchain and cryptocurrencies.<\/p>\n","protected":false},"excerpt":{"rendered":" March 14, 2023 By Murtuza Merchant Aside from brand awareness, loyalty, and customer engagement, NFTs offer a very tangible benefit to fashion brands: new revenue streams. 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