Swoosh, Nike’s New Web3 Platform, Builds on the Company’s Legacy of Innovation.
Nike (NYSE: NKE -1.60%) has been a game-changer in the sportswear industry since its inception in 1964, inspiring athletes of all ages and abilities all over the world with its innovative products.
A global portfolio of brands, markets, ground-breaking products, and a large community of enthusiastic athletes began with Phil Knight exporting breakthrough running shoes from Japan.
Nike has unveiled its own metaverse platform called “.SWOOSH,” which carries forth Knight’s original aim from more than 50 years ago into the next era of sports via the internet, digital experiences, and blockchain technology.
What Comes Next in Sports
Nike’s.Swoosh will be the hub for all of the brand’s upcoming digital products, including digital things for online gaming and immersive experiences.
With the help of the blockchain, companies, products, and teams can now reach and unify fans all over the world.
As Swoosh develops, the Nike community will be able to buy, sell, trade, and even co-create new digital products in exchange for a cut of the royalties.
The first of what is sure to be many blog posts about, Nike has announced an impending launch series in the Web3 area. Swoosh.
Nike is currently asking its initial group of participants to try out the beta, with a focus on diversity and inclusivity ranging from dedicated customers to individuals who aren’t generally given access to new technological options. Those who have the necessary privileges will be able to generate their very own. The Nike Swoosh domain, which will serve as a user’s online identity or “home” within the Nike metaverse, was released on Friday.
In 2023. Swoosh will start experimenting with token-gated events and virtual activities, among other uses for the collections’ digital products.
According to Complex, Nike plans to focus on Web3 teaching with a six-city tour before it begins selling virtual items on a regular basis.
In addition, keep in mind that.
Swoosh is a separate venture from RTFKT, a Web3 company owned by Nike. Nike, a company born and raised in the digital age, plans to use. Swoosh to market its own distinctive wares and connect its existing user base with the wider Web3 community.
Nike, the largest sports brand in the world, has made it a priority to be technologically progressive by launching NikeID in 1999, a program that allows customers to electronically design and physically acquire their own customized Nike swag.
In 2006, Nike and Apple collaborated to introduce a cutting-edge iPod sensor that fused sports and music, making it possible to monitor exercise routines while listening to music on the go. Nike released its Fuelband fitness device three years before Apple introduced its watch. The Fuelband synced with the iPhone and evolved into Nike’s app platform, Nike+.
In 2019, Nike established itself as an evolving tech firm with the introduction of Nike Fit, a proprietary foot-scanning tool that measures and matches each customer’s unique foot size to the optimally sized product.
Simply Doing It
Nike has been “simply doing it” in the metaverse since creating its first digital experience in the popular gaming environment Roblox in November 2021, coinciding with the rise of the next generation of users and digitally-native sports fans.
When Nike announced in late 2021 that it had acquired the Web3 studio RTFKT, it made waves at a time when blockchain technology was gaining widespread interest.
With the release of the NFT sneaker series, CryptoKicks, and collaborations with the likes of famed Japanese artist Takashi Murakami and popular NFT artist FEWOCiOUS, Nike began to seriously investigate the metaverse with digital collectibles and experiences with the release of RTFKT.
After CloneX was introduced, RTFKT created a massive metaverse home to over 20,000 digital characters that could interact with one another. Since then, Nike has experimented with several Web3 projects, such as an auctioned CloneX avatar with the venerable Christie’s auction house and NFC-chipped gear that comes with a verified digital duplicate.
CloneX holders will soon be able to pre-register and shop for digital wearables for their Clones in the.Swoosh marketplace.
As a tribute to the 1972 debut of the Nike Swoosh, Nike initially acquired the.Swoosh domain name for the equivalent of 19.72 ETH in anticipation of today’s announcement.
In August, Nike overtook Adidas and Dolce & Gabbana to become the top-selling brand on NFT. Fans of Nike may expect something new and exciting from.Swoosh in the coming months as a result of the company’s long history of success in the sports and retail industries and its more recent triumphs on the Web3.