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.Swoosh Launches Nike into the World of Web3

Nike stepping into Web3 with .swoosh

Nike has unveiled its own web3 platform – .swoosh,  which will be the focal point of its digital initiatives. The platform will showcase Nike’s NFT and digital apparel initiative, giving customers the chance to become co-creators and share royalties on digital products.

The first batch of Beta testers were able to register from Friday, November 18. In December, Nike will begin educating members about web3, including assisting them in setting up digital wallets with the help of BitGo. In January, Nike will launch its first collection on .Swoosh and test out various utilities for its virtual items.

 

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Nike launched its web3 endeavors with the acquisition of RTFKT in late 2021. RTFKT is a French web3 studio known for its cutting-edge innovation in producing collectibles that merge culture and gaming. Like other brands exploring the potential of web3, Nike will now use its own platform to showcase the potential of the technology by presenting the ability for their community to co-create products together with them, to trade and sell with other collectors.

According to Nike, the ultimate goal of the platform is to test and learn what utilities resonate with customers and how they behave with virtual fashion products. They also believe that in the future, people will be able to connect their external NFT wallets to openly trade their digital assets on .Swoosh.  Nike, like many other brands is with this platform adopting a new retail trend where brands move from a one-way interaction to a two-way interaction, allowing users to provide feedback to the brand about their preferences. This shift enables customers to have a more active role in shaping the products and services offered, and helps brands build a better understanding of their audience.

Keep an eye on this project at the official launch in January -23.

 

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