SNEAK PEEK
- Sportswear brand Nike continues to score huge in the NFT space as its RTFKT project mints $11M worth of NFTs in a week.
- Even though the market is down, the leading sportswear brand’s NFT unit managed to perform exceptionally well.
- The brand launched the Clone X NFT Forging Collection on August 30, with its minting scheduled to happen on September 7.
The leading sportswear brand Nike has continued to top the performance charts in the NFT space despite the market running in a downtrend. The Web3 unit of Nike, RTFKT, managed to mint more than $11 million in NFTs in a matter of just seven days.
On August 30, the sportswear brand launched the Clone X NFT Forging Collection, which is scheduled to take place from September 7. However, it should be noted that the process of NFT Forging starts immediately following the closure of the minting process.
THE FORGE IS OPEN! 🔥⚒️
— RTFKT (@RTFKT) September 7, 2022
Head to your https://t.co/U8sKPO8qzr inventory to forge your CloneX Forging SZN 1 items.
Forging ends 14th Sept at 15:30 ET, 21:30 CET
Happy Forging ⚒️ pic.twitter.com/fwWNOOmaXP
What more to add to the key takeaways is the fact that the NFT shoes by Nike accounted for 64% of the sales driven by the CloneX Forging collection mint, which slumped at the end of August. While on the other hand, hoodies accounted for 12.8%, followed by T-shirts, 8.7%.
Created a new dashboard breaking down the Nike/RTFKT SZN 1 Pre-Forging Mint.
— Noah Levine (@nlevine19) September 1, 2022
As the first major “Phygital” collection, RTFKT and Nike are showcasing the power of combining transformative manufacturing and NFTS.
Dashboard : https://t.co/V0l7Lyp6ZQ #Nike #RTFKT #NFTs #CloneX
Talking in terms of the items sold, T-shirts accounted for the vast majority of 36.2%, followed by shoes, caps, socks, and hoodies with 23.5%, 12.9%, 11.5%, and 9.3%, respectively. So far, the NFT projects of the sportswear brand have managed to generate around $200 million, provided that you count the mint revenue from Clone X Forge to $185 million.
As per the transaction data revealed, the minting activity was significantly high at the start of the process. It skyrocketed again towards the end as more and more people trooped in for their last opportunity.
Noah Levinecreated a new dashboard breaking down the Nike/RTFKT SZN 1 Pre-Forging Mint and revealed that being the first major “Phygital” collection, RTFKT and Nike are showcasing the strength of amalgamating transformative manufacturing and NFTs.
The official Twitter account of the NFT project of Nike, RTFKT, revealed that the Forging would end on September 14 at 3:30 ET, 21:30 CET. Well, it should be noted that the Clone X Forging Collection is an NFT project by RTFKT, the Web3 division of Nike, and features exclusive apparel designed for Clone X holders.
In addition to this, the collection holds a total of 74 items featuring hoodies, T-shirts, shoes, socks, vests, and much more.
This clearly implies that mainstream retailers realize the benefits of the NFT craze to create new and feasible revenue streams.
