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CoinGecko Reports: NFTs Present in 21 out of the 50 Leading Global Fashion Brands

CoinGecko Reports: NFTs Present in 21 out of the 50 Leading Global Fashion Brands

Fashion Brands Embrace NFTs: Adidas, Nike, and Puma Lead the Way

According to a recent post by CoinGecko, nearly half of the world’s global fashion brands, including Adidas, Nike, and Puma, have entered the NFT space. This news coincides with OpenSea’s CEO expressing their commitment to developing compelling use cases for NFTs amid declining trading volumes.

NFT Collections in the Fashion Industry

According to the study, nine fashion brands have introduced a single NFT collection, while six have launched two collections each. Most brands started their foray into NFTs in 2021 or 2022, but exceptions like Cartier, The North Face, and Ralph Lauren entered the market in 2023 despite the bearish trend.

Adidas stands out as a major player in the apparel sector’s NFT space with 12 collections. They have an internal team called the Three Stripes Studio dedicated to web3 initiatives. Their first fashion NFT collection, “Into the Metaverse,” was unveiled in late 2021.

Nike, another prominent brand, has introduced nine NFT collections. Their acquisition of web3 studio RTFKT in late 2021 garnered attention for its innovative designs and Clone X profile picture NFTs.

Puma has also embraced fashion NFTs and secured a top-three position in the industry rankings, showcasing the sportswear brands’ active involvement in this emerging market.

Hot Take: Fashion Brands Tap into NFT Potential

The increasing presence of global fashion brands like Adidas, Nike, and Puma in the NFT space signals a growing interest in leveraging blockchain technology for digital collectibles. As these brands experiment with NFT collections, they aim to offer unique and exclusive experiences to their customers. This trend not only expands the use cases for NFTs but also highlights the potential for blockchain technology to revolutionize the fashion industry. With more brands joining the movement, we can expect further innovation and creativity in the intersection of fashion and NFTs.

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CoinGecko Reports: NFTs Present in 21 out of the 50 Leading Global Fashion Brands