Nike managed to make $185 million from the sale of its NFTs

Global sportswear and footwear manufacturer Nike became the record-setter in profits from the distribution of its own non-fungible tokens (NFT). During the entire period of digital asset sales, the brand managed to make $185 million in profit and thus set the bar so far unattainable for other companies developing the NFT market.

Despite significant problems in the industry of digital assets, which negatively affected the popularity of non-fungible tokens, Nike's NFTs received a record distribution among users. More than 67,000 transactions have been recorded since the launch of the program. Initial token sales have generated company more than $90 million. Approximately the same amount was added to Nike's balance at the expense of transaction fees.

In the rating of companies which have their own collectible tokens, Nike ranked first in terms of profit from their sales. Other competitors, including fashion houses Gucci and Dolce & Gabbana, jewelry maker Tiffany, car company McLaren and others failed to come even close to the record holder. For comparison, the brand Dolce & Gabbana got the second place in the ranking with 7 times less than Nike - $25 million.

Nike's longtime rival at the market of sportswear and footwear Adidas also previously launched its collection NFT. At the time of the earnings calculation, the company was in 5th place in the ranking with a $10 million score.
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23-08-2022

Brooke Greene

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