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Still think NFTs are a scam? Brands and companies have to stay relevant, innovative, and adapt to change to succeed. This is why web3 has only started to tip the iceberg for traditional brands.

This is an opportunity for brands to engage with consumers in a multifaceted capacity. Web3 helps create the consumer into a shareholder and someone that actually has a voice that creates an impact within the community, rather than just a purchase.

Like for example, in April this year, Nike released its first collection of virtual sneakers, Cryptokicks and per the latest numbers, Nike has generated $185 million in revenue via NFT sales in total.

Besides Nike, many other mainstream companies and luxury brands have climbed the NFT bandwagon. Compared to Nike, however, they stand miles behind.

Dolce and Gabbana earned $25.6 million via NFT sales

Gucci has made only $11.5 million to date

Adidas has made $10.9 million to date.