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- 52 brands under 11 industries were selected for the study.
- Entertainment sector placed 5th with 4 brands.
Coingecko’s latest research study shows that the most number of brands that have launched Non Fungible Tokens (NFTs) since 2020 are from the Apparel and Luxury industry.
‘Traditional’ brands are essentially those that are based in the United States and Europe and have global operations. A ‘traditional’ brand, here, implies that the core business of a company is unrelated to NFTs and cryptocurrency.
Morgan Stanley Capital International or MSCI’s Global Industry Classification Standard (GICS) is used to further classify brands to identify the industries with the most number of brands launching NFTs. Out of the 24 industries in the GICS index, 11 have launched NFTs until now.
Coingecko noted that Health Care, Construction, Utilities and Real Estate have not ventured into NFTs yet.
Totally, 52 brands were identified out of which 19 (36%) belonged to the Apparel and Luxury Goods industry. Adidas with its ‘Adidas Originals into the Metaverse’ NFT collection leads this industry with a trading volume of 47,000 ETH till date. Adidas is followed by Nike, Dolce & Gabbana and Gucci.
Puma (Nitro Token NFT and Nitropass collection) and Tiffany & Co (‘NFTiff collection’) are the latest entrants in this sector.
The Apparel and Luxury Goods industry is followed by the Media industry with 10 (19%) brands that have launched NFTs. Time USA’s TIMEPieces NFT collection leads this sector.
Remaining industries have less than 10 brands that have launched NFT collections. These include Beverages; Food and Staples Retailing; Entertainment; Automobiles; and Personal Products.
The study excluded
‘Brands that indirectly ride on or passively endorse other NFT collections’; ‘Brands that launch a 1/1 NFT’; ‘NFTs that are non-tradeable, have never been traded or have no trading volume’; ‘Utility NFTs launched by brands, such as event tickets’
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
