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Popular Brands Nike, Adidas and Pepsi Realise Over $220 Million in Joint NFT Trading Volume
NFT News

Popular Brands Nike, Adidas and Pepsi Realise Over $220 Million in Joint NFT Trading Volume

BTC Peers reporter
BTC Peers reporter

Brands and companies joining the NFT space have utilized two main approaches: either launch branded collections of their own making or purchase already existing NFT brands. However, regardless of the choice in approach, it is evident that popular brands are actively getting involved within the NFT space and are gradually realizing the benefits and values that NFTs have now or in the future.

Nike’s RTFKT collection, known as the CloneX, was able to secure top positions within the DappRadar NFT Rankings within the last seven days. Together with CloneX Mintvials, CloneX was able to not only realize the majority share of the trading volume within the NFT space but also record various expensive sales. CloneX has grown to become one of the most popular collections within the last several weeks.

Also Read: RadioShack Ventures into NFT Collection and a New DeFi

This was why when, on the 14th of December, popular sports brand Nike announced the acquisition of the RTFKT, the design and fashion company behind CloneX, the internet went agog with the pronouncement.

This acquisition helped establish Nike’s position within the NFT space, as CloneX steadily rose to become one of the most sought-after NFT avatar projects. In the last seven days, the collection of avatars designed by Takashi Murakami has raised over $131 million in trading volumes. The collection has also drawn about 4,000 distinct traders. The average sale prices are currently set at $30.960.

On the other hand, Adidas launched 30,000 NFT in collaboration with the Bored Apes Yacht Club, PUNKS Comics NFT collection and NFT collector, Gmoney on the 17thof December.  The collection has been able to raise over $44 million in trading volume while attracting around 17.000 unique traders. In addition, the Pepsi Mic Drop collection has also generated over $6 million in trading volume and about 1800 traders since its launch on the 14th of December.