nfts

Crypto prices have surged as the market anticipates a crypto-friendly Trump presidency, raising expectations among brands like 9dcc — the self-proclaimed first crypo-native luxury label — that companies will turn to the technology to engage customers.

Blockchain rewards platforms have scored big partnerships with brands like Ulta Beauty and Glossier in recent weeks, offering beauty brands a new way to connect with fans and reward loyalty.

The American big-box retailer announced its upcoming partnership with Diane von Furstenberg amid a sales slump in apparel and other discretionary categories.

Brands are starting to adopt the tags in large numbers as they prepare to meet major new EU regulations coming down the pipeline. They’re using the opportunity to build in customer-facing features that can appeal to shoppers, too.

But only members who previously purchased one of Nike’s virtual releases will have the chance to buy it.

The sneaker brand has faced challenges in the year since it launched a 3D online space and introduced NFT-linked sneakers, but it sees a long-term opportunity ahead in virtual goods and experiences, including a chance to make them a significant part of its business.

Fashion’s NFT collections have shared a similar trajectory: They launched with a lot of hype, but then enthusiasm quickly faded. Today, brands haven’t given up on NFTs, but they’re looking for more practical uses for the technology.

The sneaker giant’s first NFT sale this week offered a bright spot for web3 hopes and illustrated that they can still offer a way to build and connect with a community — if brands do it right.