Nike Launches Latest Web3 Platform
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Nike has announced it’s latest web3-related investment this week, ‘.Swoosh’. The footwear behemoth isn’t new to the space, but the dedicated platform that is geared towards ‘virtual products’ is on the way later this week, according to a new company landing page & campaign.
We’ve seen some moves from Nike in the space already, and the latest shows the company’s initiative in building more digital-first products.
We’re approaching one year since Nike first acquired NFT-based studio RTFKT, a move that’s generally been well received from NFT fanatics – particularly with regards to brand engagement. It’s also performed well compared to competitors: there have been $185M in NFT sales of while the NFT project has been under the footwear firm’s wing, which tops the charts in brand sales from NFTs according to reports released mid-year, citing this Dune Analytics dashboard. Nike has also engaged with Roblox with brand IP in-game.
On Monday, the company announced .Swoosh, a new Nike landing page and social channels labeled as “the home for Nike’s virtual creations.” The brand is utilizing the Polygon blockchain, citing the blockchain’s “sustainability-minded approach” and pledge to be a carbon-neutral chain this year, as reasoning behind utilizing the chain.
What exactly we will see from the platform remains to be seen, but we also know that there will be wallets provided in partnership with BitGo, and account creation will be free; expect virtual apparel that can include physical engagement, like “IRL products and exclusive events.”
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