As the cryptocurrency sector and blockchain technology continue to expand and advance, one of their segments captures the particular interest of the public – non-fungible tokens (NFTs) and the metaverse, the possibilities of which are being recognized by global brands, such as Nike (NYSE: NKE).
Indeed, on November 14, Nike filed three trademark applications for its .SWOOSH Web3 platform launched on the same day, including the ‘dotSwoosh’ name and logo, as revealed by a licensed trademark attorney Michael Kondoudis in a tweet on November 21.
Filed with the U.S. Patent and Trademark Office (USPTO), the applications cover downloadable virtual goods, including footwear, apparel, sports equipment, digital content creation software, virtual collectibles and trading cards, virtual and crypto goods marketplaces, custom manufacture of real-world versions of digital footwear, clothing, jewelry, and gear, online forums, entertainment services, and more.
Nike’s NFT revenue versus market index price
In August, Finbold reported on Nike’s NFT- related projects earning the company more than $185 million in revenue since their launch, despite the crypto winter and declining interest, during which the NFT trading volume for Q2 had dropped by 40%.
It is also worth mentioning that, in spite of this revenue, Nike NFT prices have continued to fall, with the market index standing at $13,105 as of November 21, compared to $23,986 on August 22, according to Dune data.
With Nike in the first place, other top brands in terms of revenue from NFTs include Dolce & Gabbana, Tiffany, Gucci, Adidas, Time Magazine, Budweiser, and Lacoste, based on their performance on the Ethereum (ETH) blockchain, the latest Dune data shows.
Meanwhile, between January 1 and September 30, the number of NFT and blockchain-related trademarks in the United States exceeded 6,000, three times more than during the entire year of 2021. By comparison, only three trademark applications were filed in 2020.