--- title: Retailers are flocking to NFTs. Why? - The Hustle description: Different retailers are pursuing different strategies, but all of them are rooted in self-preservation. image: https://hs-sbup.thehustle.co/hubfs/The%20Hustle%20News/Assets/Images/1068115388-News-Brief_2022-01-21T020148.430Z.webp --- # Retailers are flocking to NFTs. Why? ![Rob Litterst](https://thehustle.co/wp-content/uploads/2023/01/Rob-Litterst-pic.png?width=48&height=48&name=Rob-Litterst-pic.png) [Rob Litterst](https://hs-sbup.thehustle.co/author/rob-litterst) [Rob Litterst Twitter profile ](https://twitter.com/robbylit) Published: January 21, 2022 Updated: October 11, 2023 As you’ve likely heard, the NFT hype cycle has gone nuclear in the last year. ![Retailers are flocking to NFTs. Why?](https://hs-sbup.thehustle.co/hs-fs/hubfs/The%20Hustle%20News/Assets/Images/1068115388-News-Brief_2022-01-21T020148.430Z.webp?width=595&height=400&name=1068115388-News-Brief_2022-01-21T020148.430Z.webp) While early use cases for brands seemed fuzzy, the retail sector seems to be figuring it out. Depending on the brand, different players are chasing different use cases for the emergent technology. For instance: - **Gucci** [partnered](https://hypebeast.com/2022/1/gucci-superplastic-three-part-nft-drop-supergucci) with Superplastic, a global collectibles brand that creates animated celebrities, to release a limited series of digital and physical collectibles - **Nike** [acquired](https://www.cnbc.com/2021/12/14/nike-buys-virtual-sneaker-maker-rtfkt-in-metaverse-push.html) RTFKT, a virtual sneaker company that makes NFTs in a push to outfit the footwear of the metaverse - **Walmart** [filed](https://www.theverge.com/2022/1/16/22887011/walmart-metaverse-nft-cryptocurrency) patents to sell virtual goods in categories you might find on its shelves (e.g., electronics, appliances, and sporting equipment) #### **The takeaway?** Retail’s NFT gold rush is largely rooted in self-preservation. Each brand wants to make sure if the metaverse does manifest, no one steals its existing value prop. 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