Nike Launch Swoosh, The Web3 Marketplace
Nike, one of the world's best-known fashion brands, plans to launch the Web3 platform this year known as Swoosh.
Nike, one of the world’s best-known fashion brands, is always on the lookout for new ways to improve their products. They have launched a project called Cryptokicks that made huge strides in the crypto space.
Nike is collaborating with RTFKT studio to make this NFT project a reality. The sneakers are available in the metaverse, and they’ve been created by top designers at RTFKT studio. The CloneX PFP sneakers were initially introduced in November 2021 in collaboration with noted artist Takashi Murakami. And, they generated $762 million worth of secondary market trading volume.
Additionally, as part of their business strategy, on November 15. They announced their plans to develop a Web3 platform called Swoosh.
Nike Virtual Studios General Manager Ron Faris said in a press release, “We are shaping a marketplace of the future with an accessible platform for the Web3-curious. In this new space, the Nike+ community and Nike can create, share, and benefit together.”
He added, “Now we’re at the point where it’s time to really broaden things and make them more accessible to the world.”
Swoosh will be an educational and marketplace for Web3 technology, as well as serve as a marketplace to buy and trade digital collectibles.
These items can be used in video games and virtual reality. Another unique feature of the platform is that users can create their own collections. Which gives them the opportunity to earn royalties.
This project will be minted on Polygon, an Ethereum network helper. It differs from their previous project, RTFKT, which was launched on the Ethereum mainnet.
For now, the website is live. However, users will not be able to register an account until November 18. The company expects to launch its first collection sometime in early 2023.
In this stage, Nike is educating customers about how the platform works and inviting creators to join, so that the community can grow.
While the Nike .SWOOSH platform is still in beta, registration for the digital community will open later this month. Nike writes that it wants its community to be ‘as diverse and equitable as possible.’
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Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated February 6, 2023