Luxury sportswear giants Nike, Adidas, and Puma are taking their competition to the virtual asset space as they vie for dominance in the metaverse market. Each brand has made significant moves in the non-fungible token (NFT) and metaverse realms, aiming to capture a larger market share. Nike entered the NFT market in 2021 and acquired the digital fashion business RTFKT, recognising the potential of Web3 brands. The company has since launched its official metaverse and NFT marketplace, .swoosh, and formed a partnership with EA Sports to offer exclusive Nike-branded digital collectibles. Adidas also entered the NFT market in 2021 and has generated over $150 million in NFT trading sales volume through partnerships with Bored Ape Yacht Club and famous NFT artist Fewocious. They recently introduced their own PFP NFT collection, “Alts by Adidas.” Puma joined the NFT sector in 2022 and has launched various NFT projects, including a PFP collection and comic NFTs called “Super Puma.” The company also announced a sneaker NFT collection in collaboration with MELOD1P and GutterCatGang. These three sportswear brands are equally poised to make their mark in the NFT metaverse market, fuelling the competition for dominance.
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