With so many promising competitors on the market, the list of brands interested in NFT can grow to infinity. However, a select number have successfully established their prominence as NFT brands by taking a proactive stance toward their new digital assets. What precisely characterizes a brand’s position in terms of NFT adoption?
Metrics such as total NFT income and number of secondary sales could demonstrate how efficiently brands capitalize on the promise of non-fungible tokens. In addition, the manner in which corporations utilize their NFT investments may provide a valid perception of their position within the NFT ecosystem.
By taking note of these elements, you can assess the efficacy of an NFT project. Intriguingly, the best organizations utilizing NFTs have demonstrated outstanding performance in terms of income and NFT project diversity. Measuring the expansion of NFTs can be aided by a summary of the leading organizations seeking a competitive edge via non-fungible tokens.
Brands venture into the global NFTs market
The buzz surrounding NFTs has piqued the interest of an increasing number of major brands seeking to seize the lion’s market share. Here are brands demonstrating the potential of non-fungible tokens for increasing brand awareness, promoting campaigns, and driving sales.
1. Adidas
Adidas, a notable entry in the world of NFTs, is a popular rival of Nike. Adidas has generated around $10.95 million in total NFT revenue, in addition to $4.75 million in royalties. “Into the Metaverse” NFTs marked the beginning of the sportswear brand’s NFTs endeavors. Interestingly, all the 30,000 NFTs of Adidas were minted within a few hours of going up for sale.
Adidas designed the new “Into the Metaverse” NFTs in partnership with popular NFT ventures such as Bored Ape Yacht Club, Punks Comics, and GMoney. In addition, the NFTs have been linked to exclusive Adidas merchandise, such as the sweatshirt and sweatpants worn by a Bored Ape in the owner’s BAYC NFT.
Nike
RTFKT (pronounced “Artifact”), a digital fashion business, recently released Nike CryptoKicks, a series of customizable NFT sneakers. This is RTFKT’s first sneaker release after Nike acquired the company in December. The designs are based on the trademark Dunk silhouette of the company.
The RTFKT Nike sneaker is a highlight of the collection. In addition, the Nike Dunk Genesis sneakers are customizable with eight RTFKT skins. RTFKT plans to permit other designers and influencers to develop CryptoKick skins in the future.
2. Louis Vuitton
Louis Vuitton entered the NFT area in style. LV collaborated with Beeple, the artist behind one of the most popular 1/1 NFTs, to build its own NFT game. The game, titled “Louis: The Game,” not only honored their entry into the NFT circle but also commemorated the 200th birthday of the brand’s founder, Louis Vuitton. The game includes 30 NFTs, some of which Beeple created himself. Players can collect the NFTs, but they cannot be resold.
3. Coca Cola
Coca-Cola’s team and agency partners Virtue & Tafi created and held an NFT auction for a special edition Coca-Cola NFT for its NFT launch. Its concept, dubbed ‘The Friendship Box,’ is based on its distinctive vending machines and is modeled after video game loot boxes. The auction brought in $575,000, with the proceeds benefiting Special Olympics International.
4. Dolce & Gabbana
Dolce & Gabbana, one of the most prestigious fashion houses, debuted an NFT line. “Collezione Genesi” is the name of their debut collection (or Genesis Collection). For its first release, Dolce & Gabbana teamed with UNXD. The collection was inspired by Venice’s unique customs and rich heritage.
5. McDonald’s
To commemorate the return of the McRib to the menu in November 2021, McDonald’s issued its first NFT collection. In addition, McDonald issued a restricted number of NFTs in order to build interest in the product’s brief comeback and limited availability.
There was also a sweepstakes component. The collection of 10 unique McRib NFTs was only available to those who retweeted the brand’s offer. In just a few hours, over 21,000 people registered.
6. Budweiser
In November 2021, the beer brand released its first NFT collection, signaling its debut into the NFT landscape. Known as the Heritage Collection, the Budweiser NFT collection comprised about 1936 distinct digital depictions of beer cans. Interestingly, the collection sold out within an hour of being made available for purchase, and approximately 75% of the items were resold on NFT marketplaces. According to reports, Budweiser has generated approximately $5.88 million in total NFT revenue.
Interestingly, the beer can NFTs are only the beginning of Budweiser’s NFT ambitions. The corporation has changed its Twitter profile picture to an NFT-created rocket ship image. Additionally, Budweiser is one of the most well-known firms investing in NFT due to its participation in the new NFT startup, VaynerNFT. The NFT collection is essentially a creative, customer-centric strategy for bolstering a legendary brand.
7. Tiffany
Tiffany would be at the top of the list of brands investing in NFTs due to its active involvement. Tiffany has recorded a staggering $12.62 million in total NFT income. In addition, the well-known jeweler facilitated the sale of approximately 250 NFTiffs, which are essentially digital passes.
The digital passes could be minted and redeemed for unique CryptoPunks pendants and a corresponding NFT artwork. Tiffany’s designers would create a unique pendant for each NFTiff, and CryptoPunks would be required to purchase NFTiffs.
Each pendant would be composed of 18-karat gold and thirty jewels or diamonds. Moreover, NFTiff owners have access to a digital representation of the pendant as an NFT.
8. Gucci
Gucci is one of the leading luxury brands working in NFTs with ambitious aims. Gucci’s concentration on NFTs has been unaffected by the crypto market decline, as the company has generated approximately $11.56 million in NFT revenue. Gucci’s persistent faith in NFT is one of the most obvious reasons other brands join the NFT bandwagon. Gucci desires to establish a solid foundation in the metaverse and expand its Vault Art Space in conjunction with NFT projects.
Gucci’s interest in NFTs is also seen in its partnership with the NFT project 10KTF. Gucci has unveiled the Gucci Grail non-fungible tokens, which are mintable on the Ethereum blockchain network. The NFT would feature a personalized and one-of-a-kind NFT created by Gucci’s creative director.
9. McLaren
McLaren has also developed a new NFT initiative with the aim of profiting on a diverse metaverse strategy. Recently, the luxury automotive manufacturer announced the launch of MSO LAB, an exclusive new digital community. The new digital community would promote the vision of McLaren Special Operations inside the company’s metaverse road map.
MSO LAB would prioritize providing the community with flexible access to MSO teams and McLaren Automotive personnel. The limited-edition McLaren NFTs will serve as the primary tools for tapping into the community’s true potential. McLaren seeks to redefine access, experience, and ownership standards while bringing the brand closer to the metaverse.
10. Times Magazine
The list of leading NFT brands would also include Time Magazine, one of the world’s most popular and widely distributed publications. Time announced the release of the first full issue of its magazine as a non-fungible token. It is the first time any print or digital magazine has published an entire issue on a blockchain network.
Nevertheless, this is not Time’s first endeavor in the realm of NFTs. In September 2021, the leading publishing firm published an NFT collection. Time’s TIMEPieces NFT collection comprised original works by more than 40 artists. Importantly, Time Magazine has successfully collected around $10.81 million in total NFT revenue.
Final Verdict
The list of top brands investing in NFT initiatives demonstrates that non-fungible tokens are not just for small enterprises. With promising projects, large and well-established brands have developed a distinct base in the NFT realm. To begin with, luxury fashion houses, prominent sportswear labels, jewelry designs, and a Grand Slam all embrace NFTs. Learn more about NFTs and how large corporations can benefit from non-fungible tokens in the future.
