Non-fungible tokens (NFTs) are sweeping the business landscape faster than ever with more brands (and people) hopping on the Web3-Wagon. To most OG Web3 and NFT connoisseurs, it seems to be a fad to these companies: the next big thing to take part in. But for businesses, it means the opportunity to enter a new lucrative market. Nike, Dolce & Gabbana (D&G), Tiffany & Co., and others, are reaping millions from NFTs...so much so that they earned themselves the first five spots on a list of top performing brands that generate the most revenue from selling their NFTs.
A data study that was recently published by Dune Analytics shows the top 13 performing brands in the NFT realm according to their primary sales revenues, secondary transactions, and royalties associated with said brands.
NFTs are becoming an innovative way for businesses to be involved in the future of Web3. Often regarded and dismissed as a fad or sometimes a frenzy, companies globally have begun incorporating them as a key ingredient in their strategic planning.
In particular, Nike acquired its own NFT startup called RTFKT to propel its Web3 strategy. As of today, Nike has generated a total of $185.31 million in revenue from its own NFT collections by blending a virtual experience everyone can enjoy. The company also amassed nearly $1.3 billion in transaction volume from secondary trading of its NFTs – not including its $93 million worth of primary sales, simultaneously generating $92 million in royalties.
Dolce & Gabbana (D&G), Gucci, Tiffany, and Adidas, are notably at the top of this list as well, being recognized as the top-five fashion brands with the most growth in the NFT space.
Following Nike is Dolce & Gabbana (D&G). D&G sparked headlines and set records in October 2021 with its release of Collezione Genesi, a nine-piece collection of fashion NFTs and physical garments. Since then, the brand has expanded its NFT offerings, generating a total of $25.65 million in its total NFT-related revenue. Following the success of the Collezione Genesi, the brand announced the launch of its NFT community, DGFamily, in collaboration with NFT marketplace UNXD and crypto payment solution MoonPay. The DGFamily will feature exclusive drops and collaborations, both digital assets and physical products.
Tiffany & CO. is ranked third, with $12.62 million in primary sale revenue. That figure is reported from this month’s sale of the CryptoPunks NFT Pendant release. You can read more about their collaboration with CryptoPunks,, by visiting this blog post, here!
Following T&CO. is Gucci, generating nearly $11.56 million in total NFT revenue. Gucci’s latest metaverse partnership was with 10KTF, an online shop that allows NFT holders to create derivatives of their existing NFTs. It was an NFT project that included a virtual floating “New Tokyo'' world, fashion accessories for purchase exclusively by profile picture NFT owners, and lastly, a fictional character called Wagmi-San, a play on the Web3 phrase “wagmi”, short for “we are all going to make it.” In March of this year, Gucci introduced its NFTs, Gucci Grail, minted on the Ethereum blockchain.
Adidas takes the fifth spot with $10.95 million in revenue. A bulk of Adidas’ revenue stems from its collaborative “Into the Metaverse” NFT project with the Bored Ape Yacht Club, gmoney, and PUNKS in 2021.
As the NFT market is plunging, it seems the race for the highest-performing brand in the NFT space continues. The sales in NFTs are declining, yet some brands and collections continue to dominate sales charts. You can continue to keep up with the latest on all things Web3 and fashion with appreciate.