Nike has been one of the biggest fashion-world players in Web3 through RTFKT, the NFT and digital apparel startup it acquired in late 2021, and we’ve seen the apparel giant gradually bring its own brand into the space as well. Now Nike aims to step up its efforts with the launch of a new platform, .Swoosh.

The .Swoosh platform is billed as the epicenter for Nike’s digital efforts around Web3. It's designed to spotlight the brand’s NFTs and virtual apparel initiatives, including future ways for customers to become co-creators and share in digital product royalties.

Nike will use the platform as a hub to launch virtual apparel like t-shirts and sneakers for avatars that can be used within Web3 games. It will also utilize Web3 tech to allow users to unlock real-world benefits, such as exclusive physical apparel or chats with pro athletes. Some other popular NFT projects—including one from Adidas—come with physical apparel or real-world perks.

The company plans to gradually let new users into the closed platform through the end of the year, ahead of a first NFT drop in January 2023, according to Vogue Business. Nike plans to open up user registrations later this week.

Nike's NFT apparel will be minted on Polygon, an Ethereum sidechain network, whereas the previous Nike and RTFKT drops have all been launched via the Ethereum mainnet. A Fast Company article suggests that Nike plans to sell digital sneakers for less than $50 a pair.

 

 

 

 

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