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After NFT Success, Nike Launches Its Web3 Platform for Virtual Creations

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Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice.please consult Website policy before making financial decisions.

Nike is just that Swoosh website It is planned to be the home of the company’s Web3 creations. The site is currently invite-only, but anyone can apply for access. Waitlist registration will begin on Friday, November 18th.

Nike Launches Web3 Space

On Monday, November 14th, Nike launched the Swoosh website, albeit in closed beta. Now people can sign up for his webpage with their Nike account and be on the waiting list for invitations to the Web3 space. The company says Swoosh relies heavily on his RTFKT experience (virtual his sneakers and collectibles). Creators Acquired by Nike in 2021— but another project.

Nike has yet to set an exact release date for its first Swoosh collection, but says it’s coming soon. The collection can be used in a variety of his Web3 games and “immersive experiences,” and owners “also unlock perks in the physical world, such as access to IRL products and exclusive events.”

Nike promises that there will be several free drops planned, with collectibles ranging from very affordable to very expensive. acquired the ENS domain for the Swoosh website in May I paid 19.72 ETH (approximately $38,000 at the time). Registration will begin on the website on Friday, November 18th.

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Successful Foray into Nike’s Digital Assets

History of Nike and Web3 Already started in 2019 When we registered a patent indicating our intent to tokenize ownership of our shoes. Expanded range in mid-2020 If you choose PlutusA London-based fintech company known for converting fiat currencies into cryptocurrencies at a zero rate as a business partner.

The shoe giant has once again expanded its presence in the Web3 world with the acquisition of RTFKT. This was a natural choice as RTFKT has made a name for itself by creating sneakers and similar collectibles for the Metaverse. This partnership has been quite successful for Nike. Earned $185— Nearly $100 million in royalties alone by August 2022 —

Nike isn’t the only traditional company interested in Web3 and the wider crypto space. Adidas already joins competitors in 2021and other companies Crocs, Walmart, etc. It made its own move in mid-2022. Even LG, in September 2022 he got into the NFT business. Launched a non-fungible token market on some televisions.

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Do you think the success of Nike’s digital assets will continue with Swoosh? Let us know in the comments below.

About the author

Tim Fries is the co-founder of The Tokenist. he has a bachelor’s degree He holds a Bachelor of Science degree in Mechanical Engineering from the University of Michigan and the University of Chicago Booth earned his MBA from the School of Business. Tim is a senior associate on the investment team in RW Baird’s US Private Equity division and co-founder of Protective Technologies Capital, an investment firm that specializes in sensing, protection and control solutions.

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