Home » Nike Launches .Swoosh Web3 Platform, With Polygon NFTs Due in 2023

Nike Launches .Swoosh Web3 Platform, With Polygon NFTs Due in 2023

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in a nutshell

  • Apparel giant Nike has launched a new Web3 platform called .Swoosh that offers Polygon-based NFT products.
  • The company acquired Web3 studio RTFKT in 2021 and released digital Nike sneakers as an Ethereum NFT in April.

Nike is one of the biggest players in the fashion world. Web3 Through RTFKT, NFTs digital apparel startup Acquired late 2021the apparel giant gradually bring your own brand space too. Now, Nike is looking to step up its efforts with the launch of its new platform. .Swoosh.

The .Swoosh platform is touted as the epicenter of Nike’s digital activity on Web3. It’s designed to spotlight the brand’s NFT and virtual apparel initiatives, including future ways for customers to become collaborators and share loyalty for digital products.

Nike will use the platform as a hub to launch virtual apparel such as t-shirts and sneakers for avatars that can be used in Web3 games. It also leverages Web3 technology to allow users to take advantage of real-world perks such as exclusive physical apparel and chat with the pro’s athletes.Several other popular NFT projects—including Adidas guy— Comes with physical apparel or real-world perks.

A teaser image of Nike’s .Swoosh platform.Image: Nike

The company plans to gradually admit new users to the closed platform by the end of the year, ahead of the first NFT drop in January 2023. vogue businessNike plans to open user registration later this week.

Nike’s NFT apparel will be minted polygon, ethereum All previous Nike and RTFKT drops were launched via the Ethereum mainnet.a first company The article suggests that Nike plans to sell digital sneakers for under $50 a pair.

Ron Faris, general manager of Nike Virtual Studios, said in the release: benefit together. “

of tweet threadRTFKT representatives have revealed that the studio is not overseeing the .Swoosh project, but rather helping Nike expand further into Web3. The company added that Nike plans to release digital apparel for his CloneX NFT avatar in his RTFKT.These owners have access to supported Web3 games and metaverse world.

NFTs are blockchain tokens that can represent ownership of unique digital items such as profile pictures (PFPs), avatars, collectibles, and digital clothing. NFT market jumped to $25 billion With 2021 seeing substantial trading volumes, Nike made its first significant foray into the space with its acquisition of RTFKT (pronounced “artifact”) last December.

Since then, Nike and RTFKT have Ethereum-based Digital NFT Sneakers Called CryptoKicks, they can be modified using Skin Vial NFTs.Purchased by Nike ethereum name service (ENS) Name dotwoosh.eth ETH worth about $35,000 May. An ENS name can be used to refer to a crypto wallet or a particular kind of website.

RTFKT is best known for the CloneX PFP project, created in collaboration with featured artist Takashi Murakami and launched in November 2021. crypto slam.

According to public blockchain data aggregated via sand dunes, Nike has generated $93 million in primary NFT sales to date and an additional $92 million worth of NFT trading royalties. Most of that revenue comes from his RTFKT releases for CloneX and other non-Nike brands.

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