Join Our Telegram channel to stay up to date on breaking news coverage
In recent years, non-fungible token collections have gained massive attention in various digital spaces, with this trend expected to rise further this year. These unique digital tokens ‘NFTs’ have revolutionized various industries, including fashion and wearables. In this article, we shall explore the leading brands in the Fashion NFTs and different ways NFTs are used in the fashion industry.
Adidas Leads In The Top 20 Fashion NFTs In 2024
In its January 15 study, CoinGecko.com, an on-chain data aggregator, ranked Adidas as the top fashion NFT brand among traditional apparel brands. The recent study examined non-fungible token collections launched by the top 50 global luxury apparel brands based on Brandirectory’s 2023 market capitalization ranking and publicly available information.
According to the report, Adidas, the German-based luxury sportswear brand, leads the NFT list, launching more than five NFTs since NFTs came into the limelight in late 2021. The fashion brand has partnered with other brands, including Bape and Bugatti, with six collaborative NFT collections.
Nike, an American athletic footwear and apparel corporation headquartered in Beaverton, United States, emerged as the second top-ranking fashion NFT collection. The luxury sports brand, which joined the nascent NFT sectors in 2021, has launched nine NFT collections to date.
In 2021, the sportswear brand Nike acquired RTFKT, a digital asset incubation studio, to expand its crypto and NFT creation. Under the RTFKT, the firm has created six fashion NFT collections, including the famous Clone X NFT collection. Recently, Nike has made its web3 platform to develop more sneaker NFT collections.
Puma, another sportswear brand, ranks third among the global fashions NFT collections. Since it joined the rapidly growing crypto space, the sportswear brand has launched six fashion NFT collections, including a redeemable sneaker collection with NFT project Gutter Cat Gang and basketball player LaMelo Ball.
Other luxury fashion brands in the top ten list include Gucci with its 10KTF Gucci Grail collaborative collection; Yves Saint Laurent, Prada with Timecapsule NFTs; and Tiffany & Co., with its high-profile collaboration with CryptoPunks for its NFTiff collection. According to the study, among the 21 fashion brands with NFTs, only nine brands have a single NFT collection, and 6 have just two NFT collections each.
Use Cases Of NFTs In The Fashion Industry
NFTs have disrupted the digital assets space by providing a way to establish ownership and authenticity for digital creations. Most traditional fashion brands adopt NFTs as part of their marketing strategies to increase brand loyalty, form partnerships, and create virtual collectibles and experiences beyond physical products.
The luxury sportswear brand Adidas is a perfect example of a fashion brand that adopted NFTs to offer digital ownership to its customers. In 2022, the fashion brand launched Virtual Gear, an NFT collection that allowed users to customize their avatars with digital collectibles and better express their virtual identities.
Related NFT News:
- Bybit Web3 Introduces A New Keyless Wallet For Crypto And NFTs – Here’s How It Works
- Bored Ape NFTs Explode In Sales After Yuga Labs Revealed A New Mataverse Journey
- NFT Sales Jump 12% After Rumors About Bitcoin ETFs Approval Went Viral
PlayDoge (PLAY) - Newest ICO On BNB Chain
- 2D Virtual Doge Pet
- Play To Earn Meme Coin Fusion
- Staking & In-Game Token Rewards
- SolidProof Audited - playdoge.io
Join Our Telegram channel to stay up to date on breaking news coverage
