Which Mainstream Brands Leverage NFT Collection In Their Marketing?

It is no news that NFTs are very popular among cryptocurrency enthusiasts. And while we are currently witnessing a bear market, many traditional brands are using NFTs in their marketing efforts to reach their audience.

However, when looking at the brands most involved in NFTs, certain industries dominate the topic.

In this regard, CoinGecko conducted a study that classified brands according to the GICS (Global Industry Classification Standard), recognized worldwide by MSCI, to identify the sector with the most brands launching NFT sets, taking into account US brands and Europeans.

Since 2020, the apparel and luxury industry has seen most brands launch non-fungible token (NFT) bundles, according to research.

NFT in clothing and luxury

Over the past two years, 52 major brands have introduced replacement NFT kits. Among these brands are 19 brands from the clothing and luxury industry. In fact, this is a surprising number, since adding NFT to a marketing strategy is a very recent practice. Many companies still do not use it because they may find it risky or less profitable.

However, they may have changed their minds when they discovered that Adidas, the leader of this segment, launched an NFT collection called "Adidas Originals in the Metaverse" with a total trading volume of 47,000 ETH since December 2021. send. . That revenue currently stands at over $60 million , and no brand will ignore that amount.

Nike, Dolce & Gabbana and Gucci have released their NFT collections and also have strong sales volumes. For example, the total trading volume of the Nike group, RTFKT x Nike Dunk Genesis CRYPTOKICKS, is around 8,000 ETH (over $10 million).

Newcomers to the NFT group in the apparel and luxury sector are Puma with Nitro Token and Nitropass, and Tiffany & Co with NFTiff. Three sets of NFTs were launched in August 2022.

Other brands that have released NFT collections include Playboy, Givenchy, Burberry, Louis Vuitton and Prada.

The biggest benefit of incorporating NFTs into your marketing strategy is that it can help brands gain greater online visibility through new technologies. When it comes to luxury brands, their main goal is to create unique things. Non-fungible tokens (NFTs) are by definition unique; In this way, brands will maintain their core values ​​while offering consumers new ways to own branded products.

Media industry and non-interchangeable symbols

The media industry certainly knows how to create brilliant marketing strategies, but few brands include NFTs in their plans. Although media was second in the CoinGecko study, only 10 brands chose to create their own NFT sets. The media represents 19% of the total number of NFT providers in traditional industries, and still has a long way to go to show users that they are involved in NFT.

In the media sector, Time USA took first place with the TIMEPieces NFT group. The brand is eligible to take the top spot with a total trading volume of 10,648 ETH ($13.6 million).

Some of the companies that have established NFT groups in the media industry include Fortune, Reddit, Rolling Stone, Fox Corp.

other sectors

Of the 24 industries on GICS, CoinGecko found 11 that have seen NFT launches, and in addition to apparel, luxury goods and media, others have also launched NFT journeys.

For example, Flyfish Club, one of NFT's most popular food and merchandise retail businesses, is a New York City restaurant that is the world's first members-only private dining club. To become a member, users must purchase the Flyfish Club NFT. Saving the set will grant access to more realistic pop-up events or NFT-style sushi-style dishes.

Speaking of the drinks industry, Glenfiddich was the first brand to form the NFT Group. In collaboration with BlockBar, an NFT marketplace, Glenfiddich created 15 NFTs consisting of digital images of 1973 Scotch whiskey bottles. The NFTs were sold alongside their real-world counterparts.

In addition to the sectors mentioned above, CoinGecko found that NFTs are also infiltrating others. Entertainment and automotive each have 4 brands participating in the NFT, and 2 companies in the personal goods sector have launched NFT collections. Industries such as leisure goods, household goods, durable household goods and airlines represent a single brand.

At the conclusion of the study, CoinGecko COO and co-founder Bobby Ong said, “Despite the current bear market conditions, many of these 'traditional' companies are using NFTs in their branding and marketing efforts as a way to reach their audience. and communities. It will be interesting. Let's see how this trend continues next year and if brands in industries outside of this list unlock NFTs in their marketing strategies."

methodology

CoinGecko's research focused on traditional brands that have launched tradable NFT sets since 2020, alone or with a partner. To identify the industry with the most brands launching NFT kits, CoinGecko ranked companies according to the MSCI Global Industry Classification (GICS) standard.

The companies were referred to in the study as "mainstream" brands because their work is not primarily related to the cryptocurrency or NFT industries. In addition, companies surveyed for the study are based in the United States or Europe and operate in at least one other geographic market.

CoinGecko's research excluded brands that indirectly install or passively promote other NFT groups, as well as companies that launched 1/1 NFTs. The study does not take into account non-tradable NFTs and those that have never been traded or have no volume. Another category not included is complementary NFTs introduced by brands, such as event tickets.

In conducting the study, CoinGecko considered the total trading volume across all groups when reviewing brands with multiple NFT launches. Moreover, the textile industry, the production of clothing and luxury goods, has been reduced to clothing and luxury goods, to illustrate the connection.

At the end

As the popularity of NFTs increases, traditional brands are starting to release their own NFT kits, and CoinGecko explains it all in its latest research.

Of the 52 brands reviewed, the apparel and luxury industry ranks highest on CoinGecko's list, accounting for 36% of the total NFT collections released since 2020. 19% is tracked by the media, while other sectors represent the remaining 45%.

Although there are 24 GICS (Global Industry Classification Standard) standards in the industry, only 11 of them have seen the introduction of the NFT. Given the current bear market conditions, CoinGecko COO and co-founder Bobby Ong said it can be seen if more brands, including NFTs, are in their marketing strategies.

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