CoinGecko Report Reveals NFT Presence in Nearly Half of Top Global Fashion Brands

CoinGecko Report Reveals NFT Presence in Nearly Half of Top Global Fashion Brands

A recent report by CoinGecko highlights that just under 50% of the world’s top global fashion brands, including major names like Adidas, Nike, and Puma, have ventured into the non-fungible token (NFT) space. The study indicates that 21 of the top 50 global fashion brands have introduced NFT collections, with nine brands having a single NFT collection and six brands offering two NFT collections each.

The timeline for these fashion brands entering the NFT space varies, with most initiating their first NFT collections in 2021 or 2022. Notable exceptions include Cartier, The North Face, and Ralph Lauren, which entered the NFT market in 2023 during the NFT bear market.

Adidas stands out as a prominent NFT brand in the traditional apparel sector, boasting 12 NFT collections and featuring a dedicated web3 internal team known as the Three Stripes Studio. Adidas unveiled its first fashion NFT collection, “Into the Metaverse,” in late 2021. Nike, another major player, has introduced nine NFT collections, making headlines in late 2021 with the acquisition of web3 studio RTFKT, known for avant-garde designs and Clone X profile picture NFTs.

The report emphasizes the active participation of sportswear brands in the adoption of fashion NFTs, with Puma securing a position in the top three fashion NFT rankings. The increasing presence of major fashion brands in the NFT space signals a growing interest and exploration of blockchain and digital assets within the traditional apparel industry.

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