Nike Introduces the Swoosh Web3 Platform
After CryptoKicks, .Swoosh will sell virtual clothes and other NFT-based items in January.
Nike is one of the main fashion-world participants in Web3 with RTFKT, the NFT and digital apparel firm it purchased in late 2021. The clothing giant has also steadily brought its own brand into the field. Nike plans to boost their efforts with .Swoosh.
.Swoosh is Nike’s Web3 digital hub. It highlights the brand’s NFTs and virtual clothing projects, including options for consumers to become co-creators and share digital product royalties.
Nike will introduce virtual t-shirts and footwear for Web3 avatars on the platform. Web3 tech will help consumers obtain real-world rewards like special gear or talks with elite athletes. Some NFT ventures, like one from Adidas, provide actual gear or incentives.
The business expects to progressively allow additional users onto the exclusive platform until the rest of the year, before a maiden NFT drop in January 2023. Nike will start registrations this week.
Nike’s NFT clothing will be minted on Polygon, an Ethereum sidechain network, while prior drops were on the Ethereum mainnet. According to Fast Company, Nike will offer digital shoes for less than $50.
Nike Virtual Studios GM Ron Faris remarked, “We’re developing a future marketplace with a Web3-friendly platform.” The .Swoosh community and Nike may collaborate in this new location.
RTFKT isn’t directing the .Swoosh project, but it is helping Nike grow into Web3. Nike will sell digital clothing for RTFKT’s CloneX NFT avatars, which owners may utilize in Web3 and metaverse settings.
Also Read: CZ Says Vitalik Buterin Will Assist Binance In Demonstrating Its Reserves