Non-fungible tokens have been one of the fastest-growing digital asset classes in recent times. NFTs have garnered the attention of many brands which have tried to capitalize on their unique traits of NFTs. The interest in learning about brands investing in NFT is one of the hottest trends in the domain of tech. How does a company discover the potential for using NFTs? The distinct traits of NFTs are a unique highlight for companies to invest in them to create a unique brand identity.
The investments of notable brands in the domain of NFTs can help in understanding the potential of NFTs. It could help in anticipating how NFTs would be successful in representing a brand. At the same time, top companies investing in NFT are a good sign for the industry in general. The following discussion offers an outline of the biggest companies in terms of their performance. In addition, you can uncover the details of their revenue and active projects of the brand related to NFTs.
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What are the Top Brands in NFTs?
The outline of brands interested in NFT can expand to eternity with many promising contenders in the market. However, a few have been successful in marking their popularity as NFT brands with a proactive approach toward the new digital assets. What exactly defines the position of a brand in terms of NFT adoption? Performance metrics such as total NFT revenue and secondary sales volume could showcase how effectively brands capitalize on the potential of non-fungible tokens.
In addition, the ways in which companies use their investment in NFT could also serve a valid impression of their role in the NFT ecosystem. You can evaluate the effectiveness of an NFT project by taking note of these factors. Interestingly, the top companies using NFTs have showcased remarkable performance in terms of revenue and variety of NFT projects. An overview of the top companies seeking a competitive advantage with non-fungible tokens can help in measuring the expansion of NFTs.
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Top Companies Using NFTs
The distinctive traits of NFTs, alongside their properties, have showcased explicit value improvements for many companies and individuals. Within a short period of time, NFTs have grabbed the attention of the world and many top brands. Here are some of the biggest brands which have registered promising performance by adopting NFTs.
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One of the first entries among NFT companies that have made a mark in recent times would be Nike. The sportswear company has registered almost $183.69 million in terms of total NFT revenue alongside royalties amounting to $90.59 million. Interestingly, Nike is probably one of the first brands to register a secondary transaction volume of $1.3 billion.
The variety of NFTs adopted by Nike showcase the brand’s interest in non-fungible tokens. Nike entered the NFT domain through the acquisition of RTFKT Studios, a digital asset creator. Nike acquired RTFKT Studios in December 2021 and came up with unique offerings in non-fungible tokens.
The identity of Nike as one of the top NFT brands depends largely on the CloneX avatars and Cryptokicks sneakers. CloneX is the brainchild of RTFKT Studios and can fuel the transition of Nike towards the metaverse. At the same time, the Cryptokicks sneakers as NFTs can also mark significant changes for Nike in the future.
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Another notable entry in the world of NFTs, Adidas, is a popular competitor of Nike. Adidas comes up as the top answer for “What companies are investing in NFT?” especially for the results, it has achieved in a short span of time. Adidas has registered around $10.95 million in terms of total NFT revenue, along with $4.75 million in royalties. The sportswear brand started off its venture in NFTs with the “Into the Metaverse” NFTs. Interestingly, all the 30,000 NFTs of Adidas were minted within a few hours of going up for sale.
The vision of Adidas behind NFT adoption can help the company achieve better results in the long term for using NFTs. Adidas has created the new “Into the Metaverse” NFTs in collaboration with popular NFT projects such as Bored Ape Yacht Club and Punks Comics, as well as GMoney.
The NFTs have been associated with ownership of exclusive offerings by Adidas, such as a hoodie and tracksuit sported by a Bored Ape in the owner’s BAYC NFT. In addition, Adidas is also one of the biggest NFT companies which have taken the initiative to facilitate digital experiences. The collaboration with a top NFT collection definitely works out in favor of the brand with promising levels of recognition in the NFT market.
The list of brands investing in NFTs would also include Tiffany as a top mention for its active involvement. Tiffany has registered an impressive $12.62 million in terms of total NFT revenue. The renowned jewelry manufacturer facilitated the sale of around 250 NFTiffs, which are basically digital passes.
Owners could mint and redeem the digital passes for obtaining custom CryptoPunks pendants along with a relevant NFT art piece. The designers at Tiffany would develop a custom pendant for each NFTiff, and buyers would need a CryptoPunk to purchase NFTiffs.
The design of the custom pendant would depend on the CryptoPunk of the buyer with unique highlights. Every physical pendant piece would be manufactured from 18-karat gold along with 30 gemstones or diamonds. In addition, NFTiff owners also have access to a digital rendering of the pendant as an NFT.
The example of Tiffany among NFT brands is important for setting a precedent to bridge the gap between physical and digital assets. Most important of all, the collaboration of a top brand with one of the earliest pioneers in domain of NFTs also shows better prospects for the future of other brands with non-fungible tokens.
As a matter of fact, Tiffany is a promising example of associating IP with NFTs. You can think of the pendant as the new IP for the CryptoPunk as you need ownership of a CryptoPunk for accessing an NFTiff pendant. The NFTiff project shows the potential for bringing cryptocurrency, NFTs and luxury brands on a single page.
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Gucci is one of the top luxury brands involved with NFTs set on achieving larger goals. The problems of crypto slump have not hindered the focus of Gucci on NFTs, as it has achieved around $11.56 million in NFT revenue. The unwavering trust of Gucci for investment in NFT is one of the evident reasons for other brands to jump on the NFT bandwagon. Gucci wants to set a strong foundation in the metaverse and the collaboration of the brand with NFT projects and grow its Vault Art Space.
The participation of Gucci in NFTs is also visible in the partnership with 10KTF, an NFT project. Gucci has revealed the NFTs as Gucci Grail, which you can mint on the Ethereum blockchain network. The NFT would feature a customized and unique NFT designed by the creative director of Gucci.
The brand has strengthened its position among NFT companies with an emphasis on expanding its presence across different projects which require NFTs. For example, Gucci has been making an impact in the metaverse with virtual real estate in The Sandbox metaverse. On top of it, the Gucci Town in Roblox also shows how the brand is deeply entrenched in the vision for web3. Therefore, Gucci has the most promising potential for introducing NFTs into mainstream business applications.
5. Time Magazine
The names of top NFT brands would also include Time Magazine, one of the most popular and widely circulated magazines worldwide. Time announced the launch of its first full magazine issue as a non-fungible token. It is the first time for any print or digital publication to launch a complete issue on a blockchain network as NFT.
However, this is not the first attempt of Time in the field of NFTs. The leading publication house introduced an NFT collection in September 2021. The TIMEPieces NFT collection by Time featured original pieces of artwork by over 40 artists. Most important of all, Time Magazine has successfully recorded around $10.81 million in total NFT revenue.
The top leadership of Time Magazine supports the vision of growing up as one of the biggest NFT companies in the broader web3 ecosystem. Therefore, the NFT magazine works as an important factor for strengthening the web3 aspirations of the brand. As of now, TIMEPiece holders, as well as the original LIT community wallet holders, have been selected for the magazine NFT airdrops.
The new NFT has been created in collaboration with LITDAO to facilitate governance of the magazine issues through decentralized protocols. With a community of more than 25000 NFT enthusiasts, artists and collectors, Time Magazine is truly one of the notable brands associated with NFTs.
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The answers to “What companies are investing in NFT?” would also include Budweiser, the renowned beverage company. The beer brand came up with its first NFT collection in November 2021 and signaled its entry into the NFT landscape. Known as the Heritage Collection, the NFT collection of Budweiser featured around 1936 different unique digital representations of beer cans. Interestingly, the collection sold out within an hour of being put up for sale, and around 75% of them were put up for sale again on NFT marketplaces. Reports suggest that Budweiser has achieved around $5.88 million in terms of total NFT revenue.
Interestingly, the beer can NFTs are just the beginning for the NFT aspirations of Budweiser. The company has changed its Twitter profile picture to the image of a rocket ship created by an NFT artist. In addition, Budweiser is one of the most popular companies investing in NFT for its involvement with the new NFT venture, VaynerNFT. The NFT collection can basically serve as the innovative and customer-centric approach for strengthening an iconic brand.
McLaren has also come up with its new NFT project with the objective of capitalizing on a diverse metaverse strategy. The luxury automobile maker has recently announced the introduction of MSO LAB, an exclusive new digital community. The new digital community would foster the vision of McLaren Special Operations in the metaverse roadmap of McLaren.
MSO LAB would focus on enabling the community with flexible access to MSO teams and McLaren Automotive members. The limited-edition McLaren NFTs will serve as the key instruments for tapping into the true potential of the community. McLaren aims to offer new ways of defining the standards for access, experience and ownership while driving the brand closer to the metaverse.
As one of the notable brands investing in NFT, McLaren can invite the attention of many other brands toward NFTs. Users received the first Genesis Collection of NFTs through an airdrop for community members. The functionalities associated with the NFT, such as digital sketches from McLaren design and a virtual tour of McLaren Technology Centre. McLaren had already entered into collaboration with InfiniteWorld for creating and minting NFTs of McLaren cars.
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The most surprising entry for many people in a list of NFT brands would obviously be Nickelodeon. It has come up with the Nickelodeon NFT marketplace, Slimy Seconds, which allows users to get their favorite Nickelodeon cartoons as NFTs. The collection is basically a PFP collectibles project, and the first-ever collection on the NFT marketplace featured around 10,000 unique versions of characters from Rugrats and Hey Arnold.
Nickelodeon carried out the NFT drop in collaboration with an NFT studio, Recur, which helps many brands capitalize on the metaverse. In addition, the Nickelodeon NFTs also feature rarity, thereby enabling better scope for compliance with the basic traits of NFTs. The unique attributes of each NFT character help in determining the rarity and its value in an NFT marketplace.
The names of fashion houses with an investment in NFT would also include Lacoste, one of the popular apparel makers. It released the first NFT project under the title “Undw3,” which represents ‘underwater’ or the transition of the legacy brand to web3. The NFTs in the new collection features an image of a crocodile coming up from the depths of water.
As of June 2022, Lacoste planned on selling around 11,212 digital pieces with references to the iconic polo shirt of the brand. The primary intention of the brand behind the new NFT collection emphasized collaboration between fashion and web3 for fostering collaborative, creative and interactive virtual communities.
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10. Australian Open
The reach of NFTs has been spreading far and wide in different industries. The Australian Open is one of the biggest brands to capitalize on NFTs in recent times. As a matter of fact, it is the first Grand Slam tournament entering the domain of NFTs and Web3. The Australian Open introduced the AO Art Ball NFTs, which can provide links with live match data. At the same time, it can offer unique opportunities for everyone to grab a share in the experiences of AO.
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The list of top brands investing in NFT projects shows that the attention on non-fungible tokens has not been limited to small businesses. Big and well-established players have created a unique base in the world of non-fungible tokens with promising projects. First of all, luxury fashion houses and popular sportswear brands, alongside jewelry designs and a Grand Slam, are all getting on board with NFTs. Learn more about NFTs and how big brands can make the most of non-fungible tokens in the future.
*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!