Crypto data aggregator platform CoinGecko revealed in a recent study that 21 of the top 50 global fashion brands have invested in NFTs. The aggregator platform used Brandirectory’s 2023 market capitalization ranking and publicly available data as of today to dispense its latest study. Collectibles used as mint passes were excluded from CoinGecko’s record.
CoinGecko’s data shows that the European apparel company Adidas tops the chart with 12 NFT collections. Since it debuted its 30,000-piece NFT project Into the Metaverse in 2021, Adidas has remained committed to releasing more digital collectibles to upscale its involvement in NFTs. Among them are the ALTS NFT collection and other phygital wearables.
The footwear giant Nike comes second on CoinGecko’s list of fashion brands with the highest number of NFT collections. Following its acquisition of the Web3 studio RTFKT in December 2021, Nike began introducing NFT collections interlaced with its brand. A year later, the footwear company introduced its in-house hub for digital collectibles, dubbed .Swoosh. Nike currently has nine NFT collections.
The third leading fashion brand, as outlined by CoinGecko, is the German design company Puma. Since 2022, Puma has rolled out six NFT collections. Popular among them is the GutterMelo MB.03 Sneakers, an NFT collection launched in collaboration with NBA player LaMelo Ball and the NFT project Gutter Cat Gang.
Italian luxury brand Gucci comes fourth on CoinGecko’s report with five NFT collections. Through collaborations with popular Web3 company Yuga Labs and other endeavors, Gucci imprinted its fashion-themed digital footprint in the non-fungible realm. Presently, Gucci has five NFT collections.
Other traditional fashion brands that have embraced non-fungibility include Givenchy, Prada, Louis Vuitton, Levi’s, Tiffany & Co., Burberry, Ray-Ban, Ralph Lauren, Tommy Hilfiger, and The North Face. Nine of these brands launched only one digital collection. Six of them have two collections.
The metric demonstrates brands’ interest in adopting NFTs despite a declining engagement in non-fungibility among users. As these fashion brands use digital collectibles to expand their marketing strategies and promote physical products, more brands may likely join the non-fungible path.