Puma "renamed", the three major sports giants "turned to" NFT

Seeing that Nike and Adi are playing well in the NFT world, Puma finally can't sit still.

Recently, Puma, the world's third largest sports brand and a German listed company, changed its "name" on Twitter, from the previous PUMA to "PUMA.eth". This "new name" itself is an NFT. Industry insiders believe that this is an upgrade of the Puma brand, which means that Puma will continue to explore the NFT world.

Brands According to Huxiu's observation, major sports brands in the world have embraced NFT, Nike, Adi, Under Armour, ASICS, New Balance... and even domestic Anta, Li Ning, our common sports brands, All more or less started the NFT layout.

NFT (irreplaceable "currency") is a digital asset, often presented in the form of pictures, audio or video, which is recorded on the digital ledger of the blockchain. In the virtual world built by humans in the future, every flower and every grass is NFT. At present, more and more designers are joining in to design various NFTs. By establishing a virtual museum, the NFT trading platform has realized that each collector has his own unique "personal museum". Excellent NFT design works, through the competition of the market economy, with the blessing of network effects and money appreciation, form IP in the form of Mickey Mouse, Iron Man, and Doraemon, and create a strong IP economy.

The combination of international sports brands and NFTs is a kind of IP economy created by them. Taking Bingdundun NFT as an example, when Bingdundun becomes a well-known IP image, it can not only become the endorsement of clothing brands, but also can be made into animated movies, and even build Disney, Universal Studios and so on based on multiple IPs. Theme parks bring huge benefits to the design team and even the entire related industry chain. Of course, just like NFT is a type of IP economy that has been developed abroad for hundreds of years, IP is only one of the application forms of NFT.

In every market, there are always companies that are radical, and there are always companies that are more conservative, but in the circle of international sports brands, everyone seems to have reached a consensus: NFTs have to fight.

Puma: It's been a long time since Nike and Adi
As the third largest sports brand in the world, Puma has always hoped to be as famous as Nike and Adi, but unfortunately it is weaker than them in various data.

——In terms of revenue, according to the financial report for the third quarter of 2021 (the latest comparable data), Nike’s revenue was $12.2 billion, Adidas’ revenue was $6.5 billion, and Puma’s revenue was only $2.1 billion.

——In terms of net profit, according to the financial report for the third quarter of 2021 (the latest comparable data), Nike’s net profit is about 1.5 billion US dollars, Adidas is about 500 million US dollars, and Puma is about 200 million US dollars.

——In terms of market value, as of February 25, Nike was worth $219.5 billion, Adidas was worth $45 billion, and Puma was worth $13.6 billion.

It can be seen from the above that although Puma is called the third place in the international sports brand, there is still a big gap with the former two. Of course, compared to well-known international brands such as ASICS and Under Armour, Puma is even better.

However, as the "mainstay", Puma found that it has recently become a little "weak" in the way of marketing. Whether it is Nike Adi, which is ahead of it in terms of performance and market value, or Under Armour and ASICS, which are not as good as it, they have already won a "a piece of the cake" in the NFT field, and it is still in place.

Especially the industry leader-Nike, with its "rich and powerful" investment in NFT is quite heroic.

In December 2021, Nike acquired RTFKT, a virtual sneaker company. According to an analysis by The New York Times, Nike spent $200 million for this. RTFKT is a company specializing in NFT sneakers. It sold more than 600 pairs of NFT sneakers in just 7 minutes in early 2021, with revenue exceeding $3 million.