Mainstream brands take a piece of the NFT pie in the past seven days
As the NFT space continues to grow more mainstream, brands like Nike, Adidas and Pepsi join the hype train. The three mega-brands managed to collectively secure more than $220 million in trading volume over the past seven days.
Some of these companies decided to launch branded collections, while others opted for buying out already existing NFT brands. Regardless of the approach, it is becoming clear that mainstream brands are actively engaging with the NFT community, and recognizing the value and utility NFTs carry now or may carry in the future.
In the past seven days, Nike’s RTFKT collection CloneX secured top grossing positions in DappRadar NFT Rankings. CloneX and CloneX Mintvials not only generated the lion’s share of trading volume in the NFT space, but also registered several high-priced sales, which you can find in our weekly Top 10 NFT Sales list.
Nike is leading the way with RTFKT CloneX
CloneX had already been one of the most hyped collections in the past several weeks. However, when on December 14th sports brand Nike announced it had acquired RTFKT, the fashion and design company behind CloneX excitement surrounding the collection exploded.
Turns out this was a very good starting point for Nike part, as CloneX is steadily securing its place as among the most sought-after NFT avatar projects. In the past seven days, the revealed collection of avatars with designs by Takashi Murakami generated more than $131 million in trading volume. The collection attracted close to 4000 unique traders, and currently, the average price of a sale sits at $30.960.
Impressively, the CloneX Mintvials collection is also still generating a lot of attention. As the number of unclaimed CloneX NFTs becomes smaller, the last remaining Mintvials are becoming more valuable. In the past seven days, CloneX Mintvials generated more than $38 million in trading volume, while the average price for one of these NFTs jumped 122% to more than $36.000.
Importantly, while the collection registered less sales in the past seven days, it generated more in trading volume, as the average price continued to rise. What’s more notable however, is that Nike recognized the potential behind RTFKT’s collections.
The sports mega brand has now secured one of the hottest metaverse fashion brands as an asset. This is a surefire way to guarantee Nike a solid space in the metaverse, as RTFKT is already a big player in the virtual fashion sector.
Adidas and Pepsi launch branded collections
While Nike turned to the Mergers and Acquisitions tactic, others took a different approach. Competitor Adidas and multinational food, snack, and beverage corporation Pepsi decided to go with dedicated, branded collections. Adidas launched 30.000 NFTs in partnership with Bored Ape Yacht Club, NFT collector Gmoney and the PUNKS Comics NFT collection.
Since its launch on December 17th, the collection has already generated more than $44 million in trading volume. Attracting close to 17.000 unique trader wallets, the collection has made it into the top three of DappRadar Top NFT collections for the week. Impressively, 30.000 NFTs sold out in a matter of minutes. This means the Adidas NFT drop is one of the fastest mints in the NFT space.
Looking at Pepsi’s Mic Drop collection it did not manage to secure such impressive figures. However, it still left a nice mark on the NFT space. Since launching on December 14th, the collection has generated upwards of $6 million in trading volume. Additionally, it attracted more than 1800 traders.
Mainstream brands make it into the NFT space
Seeing the increased activity from big companies like Nike, Adidas and Pepsi only goes to show that the NFT space is nowhere near done growing. With the potential of mass adoption, the hype for NFTs is becoming even bigger. Combined with the rising awareness that the metaverse and virtual worlds are getting, the blockchain industry as a whole will soon see the mainstream wave of interest.
Nike, Adidas, and Pepsi are huge businesses with millions of customers and fans worldwide. Their exposure to the NFT space also potentially brings their audiences along. Essentially, the more big mega-brands like these enter the space, the more mainstream audiences will get to hear about NFTs.
While some might say that the mainstream adoption of NFTs and blockchain technology is still a long way ahead in the future, these brands sure think this time has come. DappRadar will continue monitoring the NFT space, as more big names join and launch their collections. To find out the most accurate and latest NFT data, check out DappRadar PRO. With a PRO account, you can track sales information from as little as the last fifteen minutes. This gives you the most detailed look over the NFT space.