Most brands in the apparel and luxury goods industries are releasing NFTs

According to a new CoinGecko research study, the apparel and luxury goods industry is leading in tradable non-fungible token (NFT) adoption, with major brands launching their own NFT collections.

The apparel and luxury goods industry has far outpaced other sectors, according to the independent cryptocurrency aggregator, with 19 leading brands in the sector participating in NFT projects since 2020.

The study looked at international and traditional brands that have entered the NFT space independently or in collaborations since 2020. All brands were required to have their headquarters in Europe or the United States.

Adidas AG led all apparel and luxury goods companies with the “Adidas Originals: Into the Metaverse” NFT collection, which has a total trading volume of 47,000 ETH (US$64 million) since its launch in December 2021, according to the report.

The media industry came in second on CoinGecko’s list, with top brands such as Time, Fortune, Reddit, Rolling Stone, and Fox Corp. all launching NFT collections.

Other industries that launched NFT collections included food and staples retailing with McDonald’s and Taco Bell, entertainment with Paramount and Warner Records, and automobiles with McLaren and Porsche.