Nike Launches Its Own Web3 Platform

By promoting virtual shoes and other things on its own platform, Nike is advancing its Web3 strategy.

Through RTFKT, Nike has been one of the most significant participants in the fashion sector in Web3, and we’ve seen the clothing giant steadily introduce its own brand into the field as well. With the introduction of a new platform called “.Swoosh,” the company now seeks to intensify its efforts.

Its first digital collection is now in testing, but it should premiere next year, .Swoosh enables the fans to amass virtual goods and even collaborate with the brand to develop new ones.

According to a statement from the company, community members will soon be able to wear the items in virtual games and immersive experiences. GM of Nike Virtual Studios Ron Faris said:

“We are shaping a marketplace of the future with an accessible platform for the web3-curious. In this new space, the .Swoosh community and Nike can create, share and benefit together.”

While earlier Nike and RTFKT drops were all released on the Ethereum mainnet, the NFT clothing from Nike will be produced on Polygon, an Ethereum sidechain network. Nike reportedly intends to offer digital sneakers for less than $50 a pair, according to a Fast Company piece.

More than 26 million people have visited the experience since it debuted in November 2021 on the Roblox gaming platform, which is becoming increasingly congested with brands. It purchased NFT studio RTFKT the next month and has been releasing compilations since.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.