Increasing adoption of NFTs, from gaming to major fashion houses
Increasing adoption of NFTs, from gaming to major fashion houses
NFT

Increasing adoption of NFTs, from gaming to major fashion houses

By Vincenzo Cacioppoli - 5 Jan 2022

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While 2021 was the springboard for the world of NFT, 2022 could be the year of reckoning as adoption of this innovative form of digital commerce grows.

Brands driving NFT adoption

A few days ago, Korean technology giant Samsung announced the launch in 2022 of three new television models with an integrated NFT platform for trading artworks.

In early December, Adidas launched its first collection of original NFTs, which in just twenty days climbed to the top 50 of the best-sellers list, with over 18,000 sales, worth €60 million.

These are just two of the latest examples that explain, better than any other word, the growing popularity of NFTs. 

Gucci, Coca Cola, Nike, Disney and McDonald’s have recently created original NFTs that have been a huge hit with users.

NFT trading volumes

According to statistics from the company DappRadar, in 2021 the sales volume of NFTs reached a record $22 billion, a huge increase from around $100 million the previous year.

“Hollywood, sports celebrities and big brands like Coca-Cola, Gucci, Nike, and Adidas, made their dent in the space, providing NFTs with a new level of exclusivity. The power of attraction of these famous names profoundly impacted NFTs and the blockchain industry overall”,

reads DappRadar’s latest report.

In March last year, a single work by digital artist Beeple sold at auction for more than $69 million.

Bored Ape Yacht Club, a collection of 10,000 NFTs represented as cartoon primates that are used as profile pictures on their owners’ social media accounts, raised $26.2 million. 

adoption of NFT

Gaming is one of the sectors driving the adoption of NFTs

Gaming and sports in the NFT sector

The world of gaming has literally been revolutionized by NFTs, which allow a much more direct interaction between users and the game than the traditional system, thanks to the possibility of earning tokens by playing.

Axie infinity, the most popular game, has already generated 3.8 billion dollars, and record numbers of users are playing Sandbox or Decentraland, virtual NFT games in the metaverse. Ubisoft, the major game publisher behind Assassin’s Creed and Just Dance, recently launched an in-game NFT platform based on Tezos.

“Every single [game] studio I know of—from the largest, top company to the smallest—will have a product, if not many involving blockchain [in 2022],” he said. “What this will create is the fastest and most adopted business model transition that we’ve ever seen”.

This is what Sebastien Borget, co-founder and chief operating officer of The Sandbox, told Decrypt newspaper two days ago.

The world of sports, ranging from football and American football to basketball and Formula 1, have partnered with major NFT companies such as Sorare and Socios, to increase interactions with their fans and related merchandise revenue.

All these clues point to a very explosive 2022 for the world of NFTs and the metaverse closely linked to it.

 

Vincenzo Cacioppoli

Vincenzo was born in Genova but lived most of his life in Milan. He has a degree in political science. He is a journalist, blogger, writer, and marketing and digital advertising expert. After a long experience in traditional marketing, he started working with the web and digital advertising in 2011, creating a company called Le enfants. Passionate about the web and innovation, in 2018 he started exploring the topics related to blockchain technology and cryptocurrencies. Independent cryptocurrency trader since March 2018, he now collaborates with companies in the sector as a content marketing specialist. In his blog. mediateccando.blogspot.com, he has long been primarily focused on blockchain, which he considers to be the greatest technological innovation after the Internet. His first book about blockchain and fintech is scheduled for release in November.

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