Nike Earns IDR 2.6 Trillion From Cryptokicks Virtual Shoe Sales

Nike makes a profit from the sale of Cryptokicks NFT shoes. (OpenSea)

JAKARTA – Nike, the largest sportswear and footwear company from the United States, is reported to have benefited greatly from the sale of the Cryptokicks NFT sneaker. The multinational company earned huge revenues from its digital products of US$ 185 million (around IDR 2.6 trillion).

The digital product is created by Nike with the leading sneaker design company RTFKT. Nike began to dive into the world of Web3 since 2021 after acquiring RTFKT. Cryptokicks itself is the first NFT sneaker product that was launched in April 2022.

According to a DailyCoin report, Nike's profits are bigger than Gucci, Tiffany, and Adidas combined. The sports shoe company seems to understand how to make money from NFT. The first NFT collection by Nike contains 20.000 non-fungible tokens (NFT).

One of the artists and designers of the NFT sneaker is Takashi Murakami. He had an important contribution in the development of NFT Cryptokicks. It's no surprise that the digital shoe sold for $134.000.

NFT Gators announced that the NFT Cryptokicks shoe project has contributed to the company's revenue of more than 185 million US dollars. This positioned Nike as the shoe and sportswear company that made a big profit from NFT.

Nike's big profit was from 67.000 NFT Cryptokicks transactions. This places Nike as the most profitable company in NFT sales.

Meanwhile, Dolce & Gabbana ranks second as a fashion company that has benefited greatly from NFT with revenues of USD 25 million. Next, Tiffany, Gucci, and Adidas have revenues from NFT of 12 million US dollars, 11 million US dollars, and 10 million US dollars.