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How Top Brands Are Using NFTs

By Achilleas Boukis writing for The Conversation


From the article,

Top brands are experimenting with NFTs to add another dimension to their businesses. This has recently included everything from Nike digital sneakers to virtual collectables from sport clubs such as AC Milan. For example, Gucci is selling a digital bag for more than its real-world equivalent (US$4,115 vs US$3,400), in a sign that the Prada NFTs could fetch a high price if they are resold. Most of the media coverage around NFTs has focused on big art auctions such as Beeple’s Everydays, a giant digital collage that sold for US$69 million, and the heavily hyped Bored Ape Yacht Club, 10,000 cartoon avatars of primates looking, well, bored. But clearly, the arrival of traditional brands is also a major part of the story. Total NFT sales for 2022 are heading for about £90 billion, more than double 2021 despite the fact that markets are sinking right now.

Read the full article at The Conversation