42% of Top 50 Fashion Brands have launched NFTs
CoinGecko, a crypto data aggregator platform, revealed in a study that 21 of top 50 fashion brands in the world have 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. Following its Buy NowIn December 2021, Nike introduced NFT collections that were interwoven with its brand. The footwear company began introducing NFT collections a year later. You can learn more about this by clicking here.Its in-house hub of digital collectibles is called.Swoosh. Nike has nine NFT collections.
Puma, a German design company, is CoinGecko’s third-leading fashion brand. Puma launched six NFT collection since 2022. Popular amongst them is the 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’s digital footprint is not fungible. It was created in collaboration with Yuga Labs, a popular Web3 company. 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 these brands have two collections.
The metric demonstrates brands’ interest in adopting NFTs despite a declining engagement in non-fungibility among users. As these fashion brands use digital collectors to expand marketing strategies and promote their physical products, it is likely that more brands will follow this non-fungible path.
