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Nonfungible Tokens (NFTs) have generated hundreds of millions of dollars in additional revenue thanks to the buzz around them, demonstrating the broad market appeal of digital collectibles.

According to statistics from Dune Analytics, which was initially published by NFTGators, well-known brands including Nike, Gucci, Dolce & Gabbana, Adidas, and Tiffany have generated a total $260 million in sales from NFTs. Nike's NFT releases have generated $185.3 million in revenue, and secondary market quantities are close to $1.3 billion.
Iconic brands including Nike, Gucci have made $260M off NFT sales
Dolce & Gabbana brought in $25.6 million in NFT sales. Tiffany has generated $12.6 million in NFT-related sales since launching the NFTiff token, which enables CryptoPunk holders to create unique necklaces. Gucci and Adidas both made $11.6 million and $10.9 million in total from NFT, respectively.

NFTs became widely popular in 2021, with collections like the Bored Ape Yacht Club and CryptoPunks garnering lifetime sales in the billions. Major brands eventually became interested in the hoopla surrounding digital collectibles and started experimenting with the technology to improve their consumer relationships. Even though the NFT mania has subsided recently, the impact of the new technology is anticipated to last. Companies like Nike and Addidas intend to expand the reach of their brands into virtual worlds by pursuing their NFT objectives in the Metaverse.

Famous Brands Nike, Gucci, and Others Earn $260M from NFT Sales - Business News
Despite varying projections, investors and technologists are optimistic about the NFT market's future. In a recent study conducted by market aggregator CoinGecko, respondents predicted that within the next two years, the NFT industry might be worth more than $800 billion. By the end of the decade, more traditional studies estimated that the worldwide NFT business will be worth about $230 billion.