SNEAK PEEK
- A research study revealed the apparel and luxury goods industry is spearheading the NFT adoption, with major brands launching their own NFT collections.
- The study revealed that traditional, as well as international brands, have ventured into the NFT space since 2020, either in collaborations or independently.
- The media industry secured second place, with food and staples being the additions to the list.
In a recently conducted research, it has been revealed that the apparel and luxury goods industry has secured the first position in terms of NFT adoption. In addition, the industry is spearheading worldwide NFT adoption, with major brands launching their personalized NFT collections.
The apparel and luxury industry has left behind other sectors, with a total of 19 leading brands in the particular sector taking part in the NFT projects since 2020. As disclosed, the study was conducted for all the traditional and international brands that have entered the NFT space since 2020.
Here, traditional brands are the firms with core businesses selling services or products that don’t have any relation to the NFT or crypto industry. It was revealed that 19 out of the total 52 brands in the NFT space have their roots in the apparel and luxury industry. This accounts for a total of 36% of the firms venturing into the NFT space.
Talking about the firms, Adidas is leading the list with its Adidas Originals in the Metaverse NFT collection, marking a total trading volume of 47,000 ETH to date since it was launched in December 2021. The list was followed by companies like Nike, Gucci, and Dolce & Gabbana.
Well, talking about the latest entries in the NFT space, we have Puma’s Nitro Token and Nitropass and Tiffany & Co’s NFTiff collection from Apparel and Luxury Goods industry.
The second position in the list of industries that are adopting NFT globally was secured by the media industry and was led by top brands in the industry, such as Rolling Stone and Fox Corp, Time, Fortune, and Reddit.
Food and staples is another industry that is progressing in the NFT adoption, with companies such as Taco Bell and McDonald’s marking their presence in the industry.
Talking about the monthly trading volume of NFTs, it managed to hit a peak in the month of January and then proceeded to slump 97% as of the month of September.
