Global sports brand Nike kept profiting from the digital tokens during the crypto market winter, despite the fact that non-fungible tokens (NFT) trading volume dropped by 40% in Q2 as the interest in NFT began to wane.
According to data shared by Dune, Nike’s NFT-related projects are positioning themselves as the biggest earning brand among NFTs. The company's revenue has climbed to $185 million.
In an analysis of the performance of large brands’ NFT projects on Ethereum (ETH), Dolce & Gabbana, Tiffany, Gucci, and Adidas were among the top 5 brands in terms of total NFT revenue.
Despite Nike NFTs accumulating revenue, their prices have fallen since the peak in February and April 2022. By August 22, the market index has fallen to $23,986.
Natural curiosity about NFT has declined, and crypto users seem to be less interested in this new technology. In the new study published by DEXterlab on July 21, over 30% of crypto users revealed they would “never buy” an NFT.