Fashion brands like Nike and Gucci have made $260M from NFT sales

The world’s most iconic brands have tapped the hype around nonfungible tokens (NFTs) to rake in hundreds of millions of dollars in additional revenue.

Data from Dune Analytics has it that leading brands including Nike, Gucci, Dolce & Gabbana, Adidas and Tiffany have gulped a combined $260 million worth of sales from NFTs.

Nike has reaped $185.3 million from it NFT with volumes in secondary markets approaching $1.3 billion.

Dolce & Gabbana has generated $25.6 million worth of NFT revenue.

Tiffany has amassed $12.6 million in NFT-related sales.

Total NFT revenue for Gucci and Adidas was $11.6 million and $10.9 million, respectively.

Although the NFT craze has died off in recent months, the impact of the new technology is expected to leave a lasting mark.

While estimates vary, investors and technologists believe the NFT market has a very bright future.

A recent survey by market aggregator CoinGecko showed that it is widely believed that the NFT market could be worth more than $800 billion over the next two years.

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