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The leading NFT projects of the fashion industry have surpassed the branding projects time magazine, Budweiser and Pepsi by revenue, in both primary and secondary markets, according to new data collected by the Ethereum Blockchain.
Nike, thanks to its new acquisition Rtfkt, has been the most successful by revenue, bringing in $185.3 million. The CloneX avatar collection made up about half of that. Data analysis, seen by Business Voguesuggests that Nike is ahead of Dolce & Gabbana, Tiffany, Gucci, Adidas and Lacoste.
While individual metrics like these are available through public blockchain ledgers, performance analysis of major NFT token projects on the crypto-analytics platform Dune, created by student and crypto researcher Noah Levine, has enabled summary comparisons of brand projects over time and includes all NFT declines. attributed to that brand. Nike’s Rtfkt, for example, has released more than 10 NFT collections. The dashboard also includes information on monthly trading volume and the number of additional crypto transactions each holder has made.
The 13 brands included in the panel, while not a comprehensive list of all branded NFTs, reflect some of the most notable in terms of cultural attention. Among them, the top fashion brands are the only five whose NFT revenue reached $10 million, and includes comparison with entertainment, media and beverage brands. (The panel did not include Louis Vuitton, Prada, Balmain or Burberry, which have also introduced various NFTs.)
That revenue data is readily available given the blockchain’s transparency, but the high numbers — especially for trendy NFTs — raised eyebrows among investors like Castle Island Ventures general partner Nic Carter, who is also a co-founder of blockchain data aggregator Coinmetrics.io. Carter says he “checked” the data after seeing such high numbers and they appear to be accurate. (Levine declined a taped interview at the request of his employer, Visa, where he is a crypto product intern.)
