42% of Top 50 Fashion Brands have launched NFTs
CoinGecko’s crypto data aggregator revealed in a new study that 21 out of the 50 top global fashion brands had invested in NFTs. The aggregator platform used Brandirectory’s 2023 market capitalization ranking and publicly available data as of today to dispense its latest study. Collectibles used as mint passes were excluded from CoinGecko’s record.
CoinGecko’s data Shown BelowThe European apparel company Adidas is the leader of the NFT chart with 12 collections. Adidas has remained committed since its 30,000 piece NFT project Into the Metaverse was launched in 2021 to release more digital collectibles in order to upscale its NFT involvement. Among them, the ALTS NFT CollectionOther phygital wearables.
The footwear giant Nike comes second on CoinGecko’s list of fashion brands with the highest number of NFT collections. After its launch, Nike has been a leading fashion brand in the NFT market. Buy NowNike began introducing NFT collection interlaced with their brand in December 2021 after the Web3 studio RTFKT was established. The footwear company began introducing NFT collections a year later. You can also read about the advantages of usingThe.Swoosh is the name of its own digital collectibles hub. Nike currently has nine NFT Collections.
Puma, a German design company, is CoinGecko’s third-leading fashion brand. Puma has launched six NFT collections since 2022. Popular among them is GutterMelo MB.03 SneakersA collection of NFT products launched in collaboration with NBA star LaMelo Ball, and the NFT Gutter Cat Gang project.
Italian luxury brand Gucci comes fourth on CoinGecko’s report with five NFT collections. Through CollaborationsGucci has a non-fungible digital footprint with Yuga Labs. Gucci has five NFT Collections.
Other traditional fashion brands that have embraced non-fungibility include Givenchy, Prada, Louis Vuitton, Levi’s, Tiffany & Co., Burberry, Ray-Ban, Ralph Lauren, Tommy Hilfiger, and The North Face. Nine of the brands have only launched one digital collection. Six of them have launched two collections.
The metric demonstrates brands’ interest in adopting NFTs despite a declining engagement in non-fungibility among users. As fashion brands expand their marketing strategies to promote physical products and use digital collectibles, more brands are likely to follow the non-fungible route.