Nike generates more than $185M in crypto NFTs: Report
Shoe brand icon Nike surpassed its NFT revenue by a significant number despite the bearish momentum in the crypto industry.
Nike is an American multinational company, which is popularly known to design, development, manufacturing & worldwide marketing, and sales of footwear, apparel, equipment, accessories, and services. Nike inc. is headquartered near Beaverton, Oregon, in the Portland metropolitan area.
As all of us know very well that the crypto market faced a huge downturn because of multiple factors, from December 2021 to this date. More importantly, May 2022 was a very tough phase for the crypto industry, where the Collapse of the Terra ecosystem resulted in a negative impact for other crypto projects.
In this downturn of the crypto market, the second quarter was bad for the Crypto NFTs sector, which faced a 40% decrease in the trade volume in Q2 2022. But still, in this downturn phase, Nike NFTs secured significant profit.
In particular, Nike’ all NFTs related activities helped the company to generate more than $185 million, which is a very big amount for Nike because Nike is a newbie company in the crypto sector and also company showing strength in that sector where it was very less for the company to get the favorable situation.
No doubt that the company did better in the NFTs sector as a significant revenue generator but still Nike NFTs price plunged significantly. The current market index of Nike NFTs is $23,986.
However, Nike is a very popular fashion icon brand and the company doesn’t need any kind of introduction but still, the company did collaboration with other companies and also celebrities about Nike NFTs.
Read also: Korean company Samsung may launch Crypto exchange
