.SWOOSH community members will be able to buy, sell or trade their Nike digital collectibles.
Nike, an American athletic apparel company, is looking to launch its Web3 platform, dubbed .SWOOSH, in 2023.
According to the press release shared on November 14th, the Web3 platform will allow users to trade, buy or sell digital Nike products, such as jerseys or virtual shoes. Moreover, the company added that customers will be able to wear interactive digital objects in games and immersive experiences.
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Nike highlighted that in some cases .SWOOSH community members will be able to unlock various physical objects or events, including conversations with designers or athletes.
The point: to expand the definition of sport — and serve its future — by democratizing the Web3 experience so that everyone can collect, create and own a piece of this new digital world.
When talking about its newest project, Nike Virtual Studios General Manager Ron Faris highlighted that the new platform allows meeting customers “wherever they play and shop sport,” offering a gateway to digital spaces.
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.
It is worth noting that the platform is currently in the Beta version. Nike is planning to open registration to enter .SWOOSH later this month, with the site fully opening in 2023. The company is planning to launch its first digital collection at the beginning of 2023.
After launching its first collection, Nike is expecting to roll out “a community challenge,” which will allow participants to “win the opportunity to co-create the virtual product with Nike.” Nevertheless, the challenge winners will be able to earn royalties on the product they co-created.
Nike continues making steps in its Web3 journey after, at the end of 2021, the company acquired non-fungible token (NFT) startup RTFKT. Moreover, in August, the news broke that Nike is the biggest-earning brand when looking into NFT sales. The company collected around $185 million from NFT sales.
