Nike, a leading footwear brand, managed to generate $185 million through non-fungible token (NFT) technology which proved to be the best user-based business channel in the market.
For the record, NFT managed to make a big impact on the fashion industry last year, for example the brands Dolce & Gabbana (D&G), Gucci, Tiffany and Adidas raced to venture into the digital asset market.
And Nike is seen to be ahead of the race by launching several popular NFT projects.
From Nike's point of view, this blockchain-based NFT is a great opportunity to interact with customers in depth and avoid third-party interference in the business.
As such, Nike has taken some bold steps to increase NFT sales by combining cyberspace and its iconic branding rights, including accelerating its Web3 strategy.
According to Dune Analytics data, Nike has amassed a total transaction volume of $1.3 billion.
Additionally, Nike has generated $93 million from NFT flagship sales as well as generating $92 million in royalties.
While CloneX is one of Nike's high-performance collections that generates $40 million in royalties.
The second best performer was the $25 million Nike Sneakers MNLTH themed NFT collection.
Nike NFT collections like Mint Vial, Skin Vail and CryptoKick have generated $1 million in royalty fees.
