A new study has revealed that major sportswear brands like Adidas and Nike are leading the adoption of fashion NFTs. According to the research, Adidas tops the list with 12 NFT collections, followed by Nike with 9 collections.
Adidas made its first move into the NFT space in late 2021 with the launch of its “Into the Metaverse” collection. Since then, the German sportswear giant has dropped five more solo collections and introduced an artist residency program focused on Web3 creators. Collaborations with brands like Bape and Bugatti have also given birth to six co-created NFT ventures.
Nike acquired Web3 studio RTFKT in late 2021 and went on to launch six collections under the subsidiary. The Swoosh brand then set up its dedicated Web3 platform “.SWOOSH” and dropped two sneaker NFT collections and one identity NFT collection through its internal team Nike Virtual Studios.
With six NFT collections spanning solo releases and collaborations, Puma completes the top three in the fashion NFT rankings per the CoinGecko report. Especially notable is Puma’s redeemable sneaker NFT collection made in collaboration with NFT project Gutter Cat Gang and basketball star LaMelo Ball.
Luxury fashion houses have been slower to pursue fashion NFTs based on the study’s findings. However, Gucci emerges as a frontrunner, showcasing offerings like the 10KTF Gucci Grail co-created collection, NFT artwork collections, and Sandbox avatar NFTs. Other brands like Yves Saint Laurent, Prada, and Tiffany & Co. have also tentatively entered the NFT space.
Overall, 21 of the top 50 global fashion brands have launched NFT collections, representing 42% of the total. However, to point out many of these ventures have lacked significant impact due to underinvestment in NFT marketing efforts by traditional fashion companies.
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