Brands As NFTs
Brands as NFTs
Luxury has always been "untouchable", but now that NFTs have grown into an unavoidable part of business, they became it merely inevitable.
Coca-Cola sells NFTs for charity. They, arguably one of the most successful and lucrative brands of all time, stated that they would be producing and selling a single set of four NFT memorabilia for International Friendship Day.
The auction of the NFT bundle took place on "OpenSea" and sold for nearly $575,000, the entirety of which went to Special Olympics International.
Nike became the first global brand to purchase an NFT studio when it bought RTFKT, In 2021, a popular digital fashion-collectible company.
As the primary collectibles RTFKT offers are digital sneakers, the company became a well-known pioneer in the NFT space after developing several successful NFT sneaker-project partnerships.
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Adidas brand announced its first NFT collection, titled, “Into the Metaverse,” which grants collectors access to physical wearables and another digital utility net. The company earns $23.4 million in a single afternoon.
Italian fashion luxury brand Gucci turned its Aria fashion collection into an NFT video In May 2021, which sold for $25,000 at auction house Christie’s Proof of Sovereignty sale. Following that, 1,000 NFTs were released in association with the toy company Superplastic. Each NFT sold for 1.5 ETH, which is almost $2,623.
Time Inc., the owner of more than 90 periodicals, began taking Bitcoin for a select properties in 2014. Time published 3 NFTs of its red-bordered magazine covers during the most recent bull market, for $446,000 ETH.
Lamborghini auctioned its first NFT too. There were just five NFTs that were available through the website, and while these five lots are closed now, we can do a total sum of just how much the bidding went for, all five NFTs combined reached a total of $659,636.
Even those businesses that do not need it at all can gain a lot of money from NFTs. The non-fungible tokens bring exclusive products into the realm engaging new customers while generating a potential windfall of money.