Nike, Adidas And Puma Rival For Metaverse Market Dominance – Which Brand Has A Higher Chance Of Leading?

Updated: 15 June 2023

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The leading luxury sportswear behemoths Nike, Adidas, and Puma, which have been competitors for decades now, appear to bring their market rivalry even in the virtual asset space. In recent weeks, the three have launched various projects in their bid to win the metaverse market. Below we will look at which brand has the higher chance of leading the metaverse market.

Nike

Nike, an American multinational corporation engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, has made significant moves to become the leader in the non-fungible token and metaverse.

The sports apparel brand officially entered the non-fungible token and the metaverse market sometime in 2021.In December 2021, sportswear behemoth “Nike” acquired digital fashion business RTFKT for an undisclosed sum after recognizing the Web3 brand’s potential in the non-fungible token market.

Since then, the company has been using its incubation studio to drop tokenized phygital sneakers, clothing, and accessories. In November 2022, Nike launched its official market platform “.swoosh” for metaverse and non-fungible token collection. The company integrated Polygon, an Ethereum scaling network, to launch its NFT marketplace.

Last week, EA Sports, a leading video maker, and Nike inked a major NFT partnership. The partnership will allow sports fans, NFT collectors, and members of .SWOOSH to gain access to exclusive Nike-branded digital collectibles, which will be infused into EA games. The integration is anticipated to boost mass adoption at an unimaginable rate.

Adidas

Adidas is another sports apparel brand showcasing a strong market potential of outpacing its contemporary sports brand, Nike. The sportswear brand entered the NFT market during the 2021 bull market, which left many NFT projects recording new all-time highs.

At the time, Adidas acquired the intellectual property for a Bored Ape NFT and turned it into a fictional character, ‘Indigo Herz.’ The luxury sports apparel brand partnered with Bored Ape Yacht Club, punks comic, and G Money to launch an NFT project.

The collection has since generated over $150 million in NFT trading sales volume. Recently the team introduced its very own PFP NFT collection dubbed “Alts by Adidas.” As an attempt to extend its ‘web3’ activations and conquer the market share, Adidas also announced a significant partnership with famous NFT artist Fewocious.

Puma

Puma, a German multinational corporation that designs and manufactures athletic and casual footwear, apparel, and accessories, has also presented itself as a strong contestant in the metaverse market dominance. The company has even purchased the ‘Puma.eth’ domain and used it for Twitter.

Puma officially entered the non-fungible token sector sometime in June 2022. At the time, the company partnered with Catblox Studio to launch an NFT project. Since then, Puma launched a 10,000 PFP collection and its comic NFTs, ‘Super Puma.’ Recently, the company announced a redeemable sneaker NFT collection in partnership with MELOD1P and GutterCatGang. All these sportswear brands pose equal chances of dominating the NFT metaverse market.