Nike's NFTs Launched Last Week Earn More Than All NFT Revenue of Other Big Brands

SEP 08, 2022 • 4 Min Read

Adrian Von Catangal

Disclosure: Members of our team may own NFTs or tokens related to the projects mentioned here. These statements are intended to disclose any conflict of interest and should not be misconstrued as a recommendation to purchase any token or participate in a mint. This content is for informational purposes only and you should not make decisions based solely on it. This is not investment advice.

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🌅 Welcome!

Last month, the Houston Texans became the first NFL team to sell a game suite with crypto. As the NFL season kicks off tonight, let’s hope those fans enjoy their crypto-fueled experience!

A major exchange has partnered with GameStop, Voyager Digital is selling its digital assets, Nike raised another $10M by selling NFTs and our Research team provides some insight into the largest gaming platform on Arbitrum.

This is the Delphi Daily. Let’s dive in.


🚨 In Case You Missed It

  • GameStop partners with crypto exchange FTX.US to boost digital asset adoption. Some GameStop stores will also carry FTX gift cards.
  • Chainalysis says it helped the US government recover $30 million from North Korean hackers who targeted Axie Infinity and stole over $600 million.
  • SEC Chairman Gary Gensler says he supports giving additional powers to the CFTC, the US commodities regulator, for overseeing “non-security tokens” such as Bitcoin.
  • Frax Finance launches Fraxlend, over-collateralized borrowing and lending market. Currently, users can borrow against WBTC and WETH collateral.
  • Voyager Digital, bankrupt crypto lender, will hold an auction on September 13th to sell its digital assets.

📊 Nike’s NFTs Launched Last Week Earn More Than All NFT Revenue of Other Big Brands

  • Minting for RTFKT Clone X Forging SZN 1 ended yesterday. With this single collection, Nike/RTFKT raised over $10 million in 7 days, nearly earning as much revenue as Time Magazine, Adidas, and Gucci had earned from all of their NFT collection lifetimes.
  • Minting for the collection was exclusive to Clone X holders. 36% of Clone X holders or 3,496 wallets holding Clone X NFTs participated in the event and paid an average of $2,852 (~1.747E) worth of NFTs.
  • Each NFT represents apparel that is designed exclusively for Clone X holders based on their DNA, including T-shirts, sneakers, socks, caps, and more. Buyers can forge the NFT and receive a physical version of the item (excluding the sneakers, which are digital only), marking a new era of Phygital goods.
  • Each physical item will be integrated with a proprietary NFC chip that links to the forged NFT that represents the physical item in a digital format.
  • In order to incentivize holders to redeem their NFTs, Nike has also hinted at future in-person events and potential airdrops, such as customizable items for Clone X avatars.

⚡ Ripe for the Harvest? TreasureDAO and Bridgeworld Developments

  • There is growing interest and curiosity about TreasureDAO, the largest gaming platform on Arbitrum today. It is benefitting from a surge of attention on Arbitrum ecosystem projects, with the recent completion of the Arbitrum Nitro upgrade and speculation of a token launch similar to Optimism in the coming months.
  • TreasureDAO is expected to be part of the upcoming Arbitrum Odyssey event. We covered TreasureDAO in several Delphi reports previously:
  • How has TreasureDAO fared since then?

  • Weekly active users across the entire TreasureDAO ecosystem hit a peak of 16,000+ in March. Since then, it has fallen and stabilized at 2,000 – 3,000 users per week.
  • This suggests a fledgling core group of players that could provide a strong foundation for the next leg up in TreasureDAO’s growth.
  • We observe a correlation between $MAGIC price and active users, likely a symbiotic relationship. More active users lead to greater demand for $MAGIC, the reserve currency of TreasureDAO, which in turn draws more people as the token price rises.

  • The most played game on TreasureDAO is Bridgeworld. This flagship game in the TreasureDAO ecosystem has received the most attention from the core team.
  • It is a game of strategic commerce, trading, and domination. Bridgeworld launched its highly-anticipated Harvesters game mechanic two weeks ago.
  • Harvesters are high potential $MAGIC reward pools that players and guilds must compete over through coordination and strategy.
  • For more on TreasureDAO and Bridgeworld, Delphi members can read our latest NFT Insights report here.

🐣 Notable Tweets

Aligning Interests for NFT and Fungible Token Holders

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