With the rise of web3 in recent years, there has been a significant shift in the way businesses operate, as the rise of blockchain technology and the advent of the Web3 ecosystem have opened up new opportunities for revenue generation. While Web2 has been the primary source of revenue for businesses in the past, Web3 is gradually gaining momentum and presents exciting new opportunities for both established brands and independent creators. In this article, we will take a closer look at the earnings of some of the world’s leading brands in both Web2 and Web3 to explore the potential of this emerging digital economy.
Nike: The Athletic Giant
As one of the world’s leading brands in athletic apparel and footwear, Nike is widely known for its iconic “swoosh” logo and innovative product design. In the fiscal year 2021, Nike’s Web2 earnings were $44.5 billion, a testament to the company’s dominance in the athletic apparel market. However, Nike has also begun to explore the potential of Web3 in recent years, earning $186.12 million in total NFT revenue, with $93.13 million coming from primary sales revenue and $92.99 million coming from total royalties. This represents a significant shift in the way Nike is generating revenue and highlights the potential for established brands to diversify their income streams.
Dolce & Gabbana: The Fashion House
Dolce & Gabbana is an Italian luxury fashion house that has been at the forefront of the fashion industry since its founding in 1985. In 2019, Dolce & Gabbana’s Web2 earnings were €1.1 billion. In Web3, the brand has earned $23.69 million in total NFT revenue, with $23.14 million coming from primary sales revenue and $557.20k coming from total royalties. This demonstrates the potential for luxury fashion brands to leverage Web3 to monetise their digital assets and engage with their audience in new and innovative ways.
Tiffany & Co: The Luxury Jewelry Brand
Tiffany & Co. is an American luxury jewellery and speciality retailer founded in 1837. In the fiscal year 2020, Tiffany’s Web2 earnings were $4.4 billion. In Web3, Tiffany has earned $12.62 million in total NFT revenue, with $3.41 million coming from secondary volume and $9.21 million coming from primary sales revenue. This highlights the potential for traditional luxury brands to embrace Web3 and generate revenue by monetising their digital assets.
Gucci: The Luxury Brand
Gucci is an Italian luxury brand of fashion and leather goods that has been at the forefront of the fashion industry for decades. In 2020, Gucci’s Web2 earnings were €7.4 billion, demonstrating its dominant position in the luxury fashion market. In Web3, Gucci has earned $11.60 million in total NFT revenue, with $10 million coming from primary sales revenue and $1.6 million coming from total royalties. This showcases the potential for fashion brands to explore new revenue streams and leverage blockchain technology to monetise their digital assets.
Adidas: The Sportswear Giant
Adidas is a German multinational corporation that designs and manufactures shoes, clothing, and accessories. In 2020, Adidas’ Web2 earnings were €23.1 billion, showcasing its dominant position in the sportswear market. In Web3, Adidas has earned $11.01 million in total NFT revenue, with $6.2 million coming from primary sales revenue, $4.81 million coming from total royalties, and $178.21 million coming from secondary volume. This highlights the potential for sportswear brands to monetise their digital assets and engage with their audience in innovative ways.
Time Magazine: The News Magazine
Time Magazine is an American news magazine and website that has been published since 1923. In 2018, Time Magazine’s Web2 earnings were $684 million, representing its dominance in the news industry. In Web3, Time Magazine has earned $10.81 million in total NFT revenue, with $7.09 million coming from primary sales revenue, $3.72 million coming from total royalties, and $37.55 million coming from secondary volume. This showcases the potential for news and media brands to explore Web3 and generate revenue by monetising their digital assets.
Budweiser and Bud Light: The Beer Brands
Budweiser and Bud Light are two popular beer brands owned by Anheuser-Busch InBev, a Belgian company. While both brands have a dominant position in the US beer market, their earnings in Web3 are relatively low. Budweiser had 4,440 secondary transactions with a volume of $6.65 million and $5.88 million in primary sales revenue, while Bud Light had 11,230 secondary transactions with a volume of $3.34 million and $4.00 million in primary sales revenue. Neither brand generated any royalties or NFT revenue, highlighting the potential for beer brands to explore Web3 and diversify their income streams.
AO: The Online Retailer
AO is a British online retailer that specialises in electrical goods and appliances. Founded in 2000, the company has grown rapidly and now operates in several countries across Europe. In Web3, AO had 10,530 secondary transactions with a volume of $8.18 million and $1.5 million in primary sales revenue. The company generated $204,450 in total royalties and $1.7 million in total NFT revenue, highlighting the potential for online retailers to explore Web3 and engage with their audience in new and innovative ways.
Lacoste: The French Clothing Brand
Lacoste is a French clothing company that is known for its iconic crocodile logo. Founded in 1933 by tennis player René Lacoste, the company is now a global brand with a presence in over 120 countries. In Web3, Lacoste had 15,280 secondary transactions with a volume of $3.13 million and $1.00 million in primary sales revenue. The company generated $125,190 in total royalties and $1.13 million in total NFT revenue, highlighting the potential for fashion brands to explore Web3 and leverage blockchain technology to monetise their digital assets.
Nickelodeon: The Children’s Television Network
Nickelodeon is a children’s television network that is owned by Viacom CBS. In Web3, Nickelodeon had 8,260 secondary transactions with a volume of $2.67 million and $350,200 in primary sales revenue. The company generated $267,420 in total royalties and $617,620 in total NFT revenue, showcasing the potential for television networks to explore Web3 and generate revenue by monetising their digital assets.
McLaren: The Automotive Company
McLaren is a British automotive company that is known for producing high-performance sports cars and racing cars. Founded in 1963 by New Zealand racing driver Bruce McLaren, the company has had a lot of success in motorsports over the years. In Web3, McLaren had 2,220 secondary transactions with a volume of $2.62 million and $204,540 in primary sales revenue. The company generated $130,850 in total royalties and $335,390 in total NFT revenue, highlighting the potential for automotive companies to explore Web3 and leverage blockchain technology to monetise their digital assets.
Pepsi Mic Drop: The Limited-Edition Drink
Pepsi Mic Drop is a limited-edition flavour of Pepsi that was released in 2021 and created in collaboration with Poppy, a musician and internet personality. In Web3, Pepsi Mic Drop had 3,500 secondary transactions with a volume of $11.06 million. The brand did not generate any primary sales revenue or royalties, showcasing the potential for brands to leverage Web3 to generate revenue by monetising their digital assets.
Conclusion
Overall, the comparison of Web2 and Web3 earnings highlights the potential for a significant shift in the way businesses generate revenue in the future. While Web2 earnings are still dominant and represent the primary source of revenue for most businesses, Web3 earnings are gradually increasing and represent a promising opportunity for brands to diversify their income streams and tap into the potential of blockchain technology. This shift towards Web3 may also present opportunities for smaller businesses and independent creators to compete with larger brands, providing a more level playing field and greater economic opportunities for all. As blockchain technology continues to evolve and gain mainstream adoption, we can expect more brands to explore the potential of Web3 and explore ways to monetise their digital assets. This represents a glimpse into the future of the digital economy and highlights the potential for blockchain technology to revolutionise the way we do business and earn income.
This article is based on data from Dune Analytics and written for Jobs3.io, a free-to-use web3-focused jobs board.