24/08/2022 Iconic brands including Nike, Gucci have made $260M off NFT sales

Nonfungible tokens give major brands new ways of interacting with their consumers spanning art, fashion and gaming.

Iconic brands including Nike, Gucci have made $260M off NFT sales

Nonfungible tokens give major brands new ways of interacting with their consumers spanning art, fashion and gaming.

The hype surrounding nonfungible tokens (NFTs) has allowed some of the world’s most iconic brands to rake in hundreds of millions of dollars in additional revenue, underscoring the mass consumer appeal of digital collectibles.

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Leading brands including Nike, Gucci, Dolce & Gabbana, Adidas and Tiffany have amassed a combined $260 million worth of sales from NFTs, according to data from Dune Analytics that was firstreportedby NFTGators. Nike’s NFT drops have amassed $185.3 million in revenue, with volumes in secondary markets approaching $1.3 billion.

Dolce & Gabbana has generated $25.6 million worth of NFT revenue. Tiffany, which only recentlylaunched its NFTiff tokenallowing CryptoPunk holders to mint customized pendants, has amassed $12.6 million in NFT-related sales. Total NFT revenue for Gucci and Adidas was $11.6 million and $10.9 million, respectively.

Nike's NFT-related projects have made over $185M in revenue, positioning it as the biggest earning brand from NFTs.@DuneAnalyticsdashboard by@nlevine19.pic.twitter.com/UDD90kz8Af

— NFTgators (@NFTgators)August 22, 2022

NFTs burst onto the mainstream in 2021, with collections such as theBored Ape Yacht ClubandCryptoPunks generating billions in lifetime sales. The hype surrounding digital collectibles eventually garnered the attention of major brands, which began experimenting with the technology to better connect with their customers. Although the NFT craze has died off in recent months, the impact of the new technology is expected to leave a lasting mark. Companies likeNike and Addidasplan to take their NFT ambitions into the Metaverse — moves designed to extend the ubiquity of their brands into the virtual worlds.

While estimates vary, investors and technologists believe the NFT market has a very bright future. According to a recent survey by market aggregator CoinGecko, respondents believe the NFT market could beworth more than $800 billionover the next two years. More conventional research put thevalue of the global NFT marketat around $230 billion by the end of the decade.

Arts

https://cointelegraph.com/news/iconic-brands-including-nike-gucci-have-made-260m-off-nft-sales

Interesting NFTs
Gator
Good morning! I'm Gator. I enjoy fighting the patriarchy, picking on mice, and sitting on your computer. When I'm not playing chess, I'm watching reality tv! In time you'll learn how purrfect I am.
Block Chain Dungeon
Once upon a time... a little boy named Leo loved to paint, draw and experiment. He also loved to play with blocks and chains, which drew him again and again into the rooms of his friends Michel and Angelo. Often they also met in virtual rooms of Cryptovoxels, Decentraland, Somnium Space or Sandbox to create new inventions, read books about new technologies, or just swing the brushes. But on this day something gigantic happened. A good friend of Leo came to visit and brought his girlfriend Mona, who wanted a piece of Leo's art on her skin. This was the birth of the NFT's, as Leo developed Non Fungible Tattoos in the Block Chain Dungeon of Michel and Angelo. From that day on people from all over the world came to get NFT's from Leo or one of his students, like "Skeenee the rat", who controls the NFT machine with his laptop. A new age began.
Genesis
José Delbo sent me his striking pencil sketch and powerful inked work, which I then interpreted in oil on canvas. I wanted to create a very painterly piece with obvious brush marks etc, but I was also aiming for a nostalgic feel, a kind of 1980’s superhero comic book look, the kind I grew up with. My goal with this animation was to try to recreate, in part, the creative process that both artists went through with the visual information I had. I was able to showcase my painting process more accurately as I could take photographs of my progress throughout. Consecutive images could then be layered like brush strokes over José’s drawing to create the impression that this was one continuous artwork from pencil, to ink, to completed painting. The representation of the line sketch at the beginning, then pencil/ink and lastly the paint layers being applied demonstrate both artists’ struggle for the right lines, tone, form, and colour until the work is finally completed. As the oil was still wet with each photograph the glare of my studio lights can be seen in the brush strokes. Eventually, the figure emerges and as it does, our hero comes to life, looking directly at the viewer -- but is he grimacing in approval or disgust? We will never know for sure as just before he can say anything, white paint is brushed across the canvas entirely and the process begins again. Only the bat is quick enough to escape.
Reflection
#XCOPY #GIF #screen #time #mirror
Wink
The eye of providence blinks. Originally posted to tumblr June 26, 2012.