From acquiring NFT and digital apparel startup in late 2021, Nike has become one of the most prominent fashion players in Web3. We have witnessed the footwear and apparel giant gradually grow its brand from the physical to digital space. Now, Nike plans to step up its Web3 efforts with the launch of its new platform, .SWOOSH (or dot SWOOSH). The “community experience” platform will offer polygon-based NFTs and will be home to Nike’s virtual products like footwear, clothing, and accessories.
Expanding Into The Metaverse With dot SWOOSH
In May, Nike purchased the ENS name dotswoosh.eth for about $35,000 worth of ETH. The platform is presented as the epicenter for Nike’s Web3 endeavors. The platform is designed to promote the brand’s NFTs and digital apparel, enabling customers to become co-creators and get a share in digital product royalties.
As per Vogue Business, Nike plans to gradually let new users into the closed platform through the end of 2022. The company might open up user registrations later this week, with plans for the first NFT drop in January 2023.