When non-fungible tokens (a.k.a. NFTs ) — essentially certificates for digital or physical assets — first launched, big brands stayed pat. They didn’t launch their own, entertain the then-trend (now full-blown industry) or rush to retrofit prior releases with crypto perks. Folks knew there would one day be a Nike NFT, but when Nike first showed hesitancy, many wondered whether the brand, and others of a similar size, would eventually go all in.
Then Nike kickstarted a streak of acquisitions — NFT technology companies, other NFT makers and so on and so forth. And although real-life apparel and footwear is still the behemoth’s primary focus, NFTs are paying it off, it seems, even if most shoppers (myself included) remain skeptical.
Nike has made $185.33 million on NFTs so far, beating out Gucci, Tiffany, Dolce & Gabbana and Adidas for the top spot on a new list by Noah Levine ranking the space’s highest earners. Dolce & Gabbana ($25.65 million) took second; Tiffany ($12.62 million) finished third; and Gucci ($11.56 million) and Adidas ($10.95 million) claimed fourth and fifth, respectively.