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HomeBusinessNike Sprints to Web3 with New .SWOOSH Platform

Nike Sprints to Web3 with New .SWOOSH Platform

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Cameron Thompson is a reporter for CoinDesk.

Sneaker giant Nike said Monday it is taking Web3 a step further by launching .SWOOSH, a new platform aimed at building communities around its digital wearables.

Nike says .SWOOSH will be a resource for Web3 education and a platform to buy and trade digital collectibles such as virtual sneakers or jerseys. The company says the items can be worn in video games and other immersive experiences.

Additionally, .SWOOSH will allow users to create their own collections on the platform, from which they can earn royalties.

“We are shaping a future market by providing an accessible platform for those interested in Web3. In this new A space where the .SWOOSH community and Nike can co-create, share and benefit,” said Ron Faris, general manager of Nike’s Virtual Studio, in a release.

Nike has been steadily expanding its Web3 strategy over the past few years. After filing a patent for a Web3 sneaker called “Cryptokicks” in December 2019 and testing its sneakers in an RFID lab in March 2020, the sneaker giant recently acquired digital fashion startup RTFKT Studios Internal development of non-fungible tokens (NFTs). In April, the company launched a Metaverse sneaker line called RTFKT x Nike Dunk Genesis CryptoKicks.

. The SWOOSH platform is currently in beta and will open for registration at the end of November, followed by the first collection in 2023.

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CoinDesk - Unknown

Cameron Thompson is a reporter for CoinDesk.

CoinDesk - Unknown

Cameron Thompson is a CoinDesk news reporter.



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