Nike Tackles Phygital Fashion

Ally ZachJan 25, 2023 ⋅ 5 min read

Key Insights

Nike-branded NFT collections dominate the fashion NFT space, owning over 70% of the annual trading volume.
Since mid-2021, RTFKT NFT collections have generated over $1.25 billion in trading volume and $178 million in total revenue, with half of the total revenue coming from royalties.
In the coming weeks, Nike is set to release .swoosh, a groundbreaking Web3 platform for users to engage with, learn, collect, and even help co-create virtual apparel and shoes.

Fashion NFTs

Major brands have slowly been testing the Web3 waters, including players from the luxury and retail fashion sectors such as Nike, Adidas, and Gucci. Fashion NFT collections have progressed from simple PFP launches. They have embraced physical one-of-a-kind wearables, have hosted community toolings with social graphs, and have been increasing the composability of these digital assets. In 2022, the trading volume for the fashion NFT sector was nearly $1.3 billion, the majority of which stemmed from the collaborative efforts between Nike and RTFKT.

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Ally Zach

53 Reports 0xallyzach

Ally is a Research Analyst on the Enterprise team at Messari. Prior to joining the team, Ally worked as a Structural Engineer at Magnusson Klemencic Associates. Ally graduated from the University of Illinois in 2018 with a master’s degree in Civil and Structural Engineering.

Outline

Key Insights
Fashion NFTs
Cultivating Community through Rewards
Looking Ahead

Author

Ally Zach

53 Reports 0xallyzach