Nike's NFT revenue tops $185 million despite crypto winter

Despite the rapid rise in the general crypto and NFT market, global sports brand Nike (NYSE:NKE) made big profits from digital collections. The company earned over $185 million from its NFT-related projects.

This makes Nike the top earner from NFTs, while Dolce & Gabbana, Tiffany, Gucci and Adidas (OTC:ADDYY) are among the top five brands in terms of NFT revenue, according to data from Dune. Many big brands have entered the NFT sector. The dashboard on the IRL brand NFT landscape shows how lucrative digital collections have become for some of the world's most famous brands. However, despite the massive NFT revenue, the price of Nike NFTs has fallen since peaking in February and April 2022. As of August 22, the market index stands at $23,986. While 2021 is a good year for NFTs, overall interest in the sector seems to be waning, and crypto users are not as adventurous with new technology as they were a year ago. BTCPEERS reported that NFT sales volume in July fell to a 12-month low, despite recording $42 billion in sales since the beginning of the year.   Source: BTCPEERS

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You may also be interested in: Interest in the NFT Sector in Asia Increased Significantly! Since the beginning of the year, NFT searches worldwide have fallen sharply. Between January 23 and January 29, search frequency was at its highest at 100 out of 100. But between August 7 and August 13, it dropped 85 percent to 15. According to a review of Google Trends data by Bankless Times, the decline continues. While the crypto sector and general interest in NFTs has deteriorated, NFTs remain popular in Asia. The continent is also home to seven of the top ten countries where people search for NFTs the most. https://ieconomy.io/en/interest-in-the-nft-sector-in-asia-increased-significantly/