Top Brands in Web3, NFTs and the Metaverse

Despite the “crypto cold,” prominent corporations are still making investments and announcing plans to expand Web3. Examples include Disney and Warner Music hiring people for Web3 expansions and Starbucks unveiling their Odyssey non-fungible token loyalty scheme.

A lot of companies have already begun introducing NFT lines and pursuing Web3 strategies and investments like purchasing virtual property in the metaverse. The businesses betting on Web3 come from a variety of sectors, with the fashion, beverage, and luxury industries being the most well-represented.

In addition to looking at brands that have opted to use other blockchains to fuel their Web3 growth, we also included the top NFT revenue on Ethereum. Here are some of the Web3 brands that are already popular and profitable.

Top brands on Ethereum

“NFT Brands Revenue Tracker” by kingjames23 (Dune Analytics)

Nike

Prior to the more widespread Web3 push, Nike was already moving forward and had been granted a patent for their “CryptoKicks” line of blockchain-connected sneakers. In March 2020, Nike conducted a blockchain trial with Macy's and the RFID Lab at Auburn University to improve the sharing of product data throughout the retail supply chain.

However, Nike's most significant Web3 move came in December 2021, when it purchased NFT shoe studio RTFKT Studios. The 20,000-piece CloneX NFT collection is the work of RTFKT, which as of this writing has a trading volume of 436 ETH ($584,240). CloneX NFT owners received commercial rights from RTFKT in February 2022, enabling them to produce derivative works, collect fan art, and produce and market items using their avatars.

In April 2022, Nike unveiled the RTFKT x Nike Dunk Genesis CryptoKicks, a line of metaverse sneakers, as part of their ongoing Web3 push deep into the bear market.

Dolce & Gabbana

The “Collezione Genesi” NFT collection from Dolce & Gabbana features nine NFTs, including “The Impossible Tiara,” a unique tiara encrusted with diamonds and crimson emeralds. The two-day bidding for the collection on UNXD, a premium marketplace on the Polygon network, brought in about $5.65 million. The most expensive NFT was “The Doge Crown,” selling for 423.5 ETH, or almost $1.3 million at the time.

Following the launch's success, D&G and UNXD joined forces to form the DGFamily, an NFT community “for digital luxury and culture.”

Tiffany & Co.

Tiffany, one of the most traditional luxury companies, made its Web3 debut with CryptoPunks, perhaps one of the most traditional NFT ventures.

Exclusive to owners of CryptoPunk NFTs, Tiffany revealed 250 digital necklaces in August 2022 for 30 ETH apiece (about $50,000 at the time). Holders of these diamond-encrusted pendant NFTs might exchange them for real necklaces. The largest sale to date was a Tiffany CryptoPunk necklace that one user sold for almost twice as much, or 55 ETH.

Gucci

Gucci, an Italian luxury clothing company, has a broad Web3 plan that includes NFTs, metaverse land, investing in a DAO, and accepting bitcoin payments.

In the world of NFTs, Gucci created an NFT film using their Aria clothing line. This was auctioned off at Christie's Proof of Sovereignty sale in May 2021 and sold for $25,000. In February 2022, 1,000 NFTs were released in conjunction with the toy company Superplastic. Each NFT, which cost 1.5 ETH, or about $2,623 at the time, could be exchanged for an Italian-made ceramic sculpture that was also co-designed by Gucci.

Around the same time as the Superplastic collaboration, the firm made another wager on the metaverse by purchasing an undisclosed quantity of virtual land on The Sandbox to develop themed experiences in its virtual environment known as Gucci Vault.

In June 2022, Gucci also invested $25,000 in RARE tokens in order to join the SuperRareDAO and build a virtual “Vault Art Space.”

Finally, as of May 2022, a few Gucci boutiques in the United States began taking a number of cryptocurrencies, including bitcoin and dogecoin. As of August 2022, apeCoin is also a part of that.

Adidas

In November 2021, Adidas started investing in Web3. Uncertainty surrounds how the firm obtained the land in The Sandbox; it was either purchased off-chain or given to them. It also joined forces with Coinbase in the same month, albeit no explanation was given at the time of writing, and as of this writing, none has been.

Then there was a huge splash. With the release of its “Into the Metaverse” NFT drop in December 2021, Adidas made a staggering $23.4 million in a single afternoon. This was done in association with the Bored Ape Yacht Club, NFT originator Pixel Vault of PUNKS Comic, and private NFT collector gmoney.

The “adidas for Prada re-source,” an NFT project that allows fans to contribute their own designs, was launched by Adidas and Prada in January 2022 on the Polygon network. As of this writing, it has generated a trading volume of 474 ETH, or roughly $616,000 USD.

Time

The publisher of more than 90 periodicals, Time Inc., has been dabbling in cryptocurrencies for a while. In December 2014, it began taking bitcoin for a few specific assets.

Time published three NFTs of its red-bordered magazine covers, which sold for $446,000 ETH during the most recent bull market.

In order to advance their careers and create a collection for Time's Build a Better Future launch, the firm also teamed with the artist collective FOTO and welcomed Nyla Hayes, the 12-year-old creator of NFT, as its first artist in residence.

AB InBev: Budweiser and Bud Light

The biggest brewing corporation in the world, AB InBev, has invested heavily in Budweiser and Bud Light, two of its American-born brands.

Budweiser has long dabbled in cryptocurrencies. Budweiser and Coinbase collaborated in May 2014 to launch a bitcoin payments program for concertgoers. In order to help unbanked workers, Budweiser invested an undisclosed sum in blockchain-as-a-service (BaaS) firm BanQ in June 2019.

When Budweiser purchased the beer.eth domain for 30 ETH ($95,000 at the time) and a rocket NFT for 8 ETH ($25,00 at the time), the company's strategy took a Web3 turn.

Budweiser launched its first collection of NFTs in November 2021. Called Budverse Cans: Heritage Edition, the collection contains 1,936 NFTs and makes homage to the year the brand first began selling beer in cans. Budweiser collaborated with 22 up-and-coming artists to release a collection of 11,000 NFTs in January 2022, with a mint price of $499 per NFT.

Bud Light became IRL in February 2022 when it broadcast a Super Bowl ad with Nouns NFT. It distributed 2,000 NFTs in conjunction with its new beer brand, N3XT, later that month. Each NFT cost $399 and came with a free pair of spectacles designed after the Nouns.

In June 2022, Stella and Budweiser joined together with the Ethereum-based NFT horse racing game Zed Run to, among other things, release in-game horse skins based on their respective Clydesdale mascots.

Lacoste

Last but not least, French clothing company Lacoste entered the Web3 market in June 2022 with the introduction of their NFT line. The 11,212-piece NFT collection is a nod to the brand's L1212 polo shirt. Prior to entering the Web3 space, Lacoste collaborated with Minecraft to include their apparel line in the well-known world-building game. RoBlox and other similar open-world games are frequently referred to as being a part of the metaverse.