In a groundbreaking development, CoinGecko — a leading cryptocurrency and NFT data aggregator — revealed that 21 (42%) of the top 50 global fashion brands have ventured into the NFT landscape.
CoinGecko’s research highlights that since 2021, non-fungible collectibles have primarily served as powerful marketing tools in the fashion industry, enhancing brand loyalty, forming partnerships, and creating one-of-a-kind virtual collectibles and experiences.
Following the success of early initiatives, famed brands like Cartier, The North Face, and Ralph Lauren boldly embraced the NFT arena in 2023 despite the rollercoaster of the bear market.
Top Brands Embracing NFTs
Adidas leads in the traditional apparel industry’s NFT journey with 12 collections, a dedicated ‘Three Stripes Studio’, and collaborations with Bape and Bugatti, totaling 6 joint NFT ventures since ‘Into the Metaverse’ in late 2021.
Nike is a close follower with 9 NFT collections. The sport attire titan’s NFT journey started by acquiring RTFKT in 2021. Six collections were launched under RTFKT, followed by the introduction of ‘.SWOOSH‘, which has since presented two sneaker NFT collections and an identity NFT series.
Puma completes the top three, blending solo launches and collaborations in its 6 NFT collections. Notable collaborations include a redeemable sneaker collection with the famous NFT project ‘Gutter Cat Gang’ and basketball star LaMelo Ball.
Luxury brands also excel in the NFT space, with Gucci’s ’10KTF Gucci Grail’ CryptoArt, Yves Saint Laurent’s beauty line digital collectibles, and Prada’s ‘Timecapsule’ NFT series leading the way. And not forgetting Tiffany & Co’s success with CryptoPunks in ‘NFTiff‘, which raked in a remarkable $12.5 million.
As traditional and luxury brands alike navigate this new digital frontier, their embrace of NFTs signals a bold step towards blending the worlds of fashion, technology, and art in creative and rewarding ways for consumers.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
The post CoinGecko Insights – 21 Top Fashion Brands Put NFTs to Work appeared first on NFT Plazas.
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