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Puma competes against Nike in NFT offerings after launching NFT shows

Puma
Puma

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Puma, one of the largest sports brands globally, is launching metaverse offerings. On September 7, the company announced launching “Black Station,” which is expected to be the first metaverse experience by the sports giant. Puma announced its venture into the metaverse during the New York Fashion Week.

Puma moves into the metaverse with NFT shoes

According to a press release by the company, Black Station would be a dynamic metaverse destination that will allow Puma users to interact as they enjoy the NFT offered by the brand, which is mostly sporting goods.

The Chief Brand Officer at Puma, Adam Petrick, commented on the development, saying that Black Station was a hub for Puma two decades ago, allowing the sports brand to showcase innovative designs. For this reason, the company revived its website to celebrate its focus on innovation.

Petrick added that Puma was pushing product design and digital offerings boundaries. The company has found that Black Station can be a new portal supporting digital exploration in multiple areas such as fashion, sports, and heritage.

When users visit the website, they can immediately start interacting with the digital Puma offerings, including choosing a hyper-realistic digital lobby with three different portals supporting exclusive experiences, including unique sneakers.

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Visitors on the website can also mint NitroPass passes, where they can receive NFTs related to physical products that can be claimed after the Futrograde fair in New York ends. According to the Global Creative Director and Head of Innovation at Puma, Heiko Desens, there were clear advantages to using the metaverse.

Desens said that the metaverse would allow the designers from the company to work without limitations and create original designs that were as impressive as the actual products.

Nike leads fashion brands in metaverse offerings

Nike has been one of the largest fashion brands that have expressed increased interest in the metaverse. Despite the sector’s technological innovation, Nike is also making notable earnings from its metaverse offerings. The company has earned around $184 million from its NFT products.

Data from Dune Analytics also shows that Nike is leading the companies that have made the most profits from selling their NFTs. The other fashion brand that has also embraced NFTs is Dolce & Gabbana, which sold around $23.67M of NFT products.

Adidas is also one of the first companies to bet on the metaverse. However, the company’s NFT sales barely top $10 million because of issues with the launch of its NFT collection. Early access into Adidas is not closed, but minting has already been halted as developers investigate why there are issues with minting the Mutant Ape Yacht Club NFT.

Besides fashion brands, automotive brands are also looking into metaverse and NFT offerings. Companies like Ford have filed for patents to enter the metaverse using their successful car collections. These metaverse offerings are aimed at attracting a new user base.

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