November 22, 2024 3:34 am
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Iconic brands including Nike, Gucci have made $260M off NFT sales; Rose Law Group Founder and President Jordan Rose comments

By Cointelegraph

The hype surrounding nonfungible tokens (NFTs) has allowed some of the world’s most iconic brands to rake in hundreds of millions of dollars in additional revenue, underscoring the mass consumer appeal of digital collectibles.

Leading brands including Nike, Gucci, Dolce & Gabbana, Adidas and Tiffany have amassed a combined $260 million worth of sales from NFTS, according to data from Dune Analytics that was first reported by NFTGators. Nike’s NFT drops have amassed $185.3 million in revenue, with volumes in secondary markets approaching $1.3 billion.

Dolce & Gabbana has generated $25.6 million worth of NFT revenue. Tiffany, which only recently launched its NFTiff token allowing CryptoPunk holders to mint customized pendants, has amassed $12.6 million in NFT-related sales. Total NFT revenue for Gucci and Adidas was $11.6 million and $10.9 million, respectively.

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Rose Law Group Founder and President Jordan Rose notes: “If you think the metaverse is not the future of commerce, these numbers may help you see you’re just wrong.”

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