Fashion brands have been quick to capitalize on NFTs as the digital collectibles become more lucrative, and their investments are paying off. Nike, Dolce & Gabbana, and Tiffany & Co. are among the top companies bringing in the most revenue from NFTs. The former, thanks to its acquisition of RTFKT, leads the way with a whopping $185.3 million in revenue from its NFT collections.
Nike first entered the metaverse with its launch of “Nikeland,” a virtual world made in partnership with Roblox. It wasn’t until it acquired RTFKT that the brand began pumping out its own NFTs — although Nike did defend its digital likeness when StockX offered NFT versions of the Swoosh’s sneakers. Clearly, there’s money to be made from the digital collectibles, and the brand isn’t one to miss out on profits.
