Nike Launches Its .Swoosh Web3 Platform
Nike has announced the launch of its new .Swoosh web3 platform, which will allow users to purchase digital apparel and sneakers using Nike NFTs. The platform will also allow users to trade and collect Nike NFTs, as well as other digital collectibles.
The launch of the .Swoosh platform follows Nike’s previous announcement of its partnership with blockchain startup Polygon. Under the partnership, Nike will use Polygon’s sidechain to power its new digital marketplace.
Nike has also announced that it will be partnering with pro athletes and celebrities to create exclusive RTFKT (real-time fashion) collections.
Nike Is Betting Big on NFTs, Web3, and the Metaverse
Nike is betting big on NFTs, Web3, and the Metaverse. In January 2023, Nike will launch its first NFT drop, Cryptokicks, which will include digital apparel and sneakers. Nike’s RTFKT subsidiary will also unlock the first NFT drop in the Metaverse. Nike’s investment in NFTs is part of its broader strategy to tap into the growing market for digital assets.
Nike is not the only company that is betting on NFTs. Web3 Foundation, the organization behind the Metaverse, has also been investing in NFTs. In December 2020, Web3 Foundation invested in Dapper Labs, the company behind CryptoKitties and NBA Top Shot. Web3 Foundation has also invested in other NFT projects, such as SuperRare and Decentraland.
The Metaverse is a decentralized virtual world powered by blockchain technology. It is a platform where people can create, own, and trade digital assets. The Metaverse is still in its early stages of development, but it has the potential to become a major player in the global economy.
Nike’s investment in NFTs is a risky bet, but it could pay off if the Metaverse takes off. If Nike can successfully launch its first NFT drop, it could pave the way for other companies to follow suit. And if the Metaverse does become a major force in the global economy, Nike will be well-positioned to capitalize on it.
Nike expands metaverse ecosystem with dot SWOOSH
Nike expands its metaverse ecosystem with the launch of dot SWOOSH, a web3-based sneaker marketplace. The move comes as part of Nike’s wider 2021 roadmap, which includes the launch of the RTFKT platform and the expansion of the Swoosh platform.
The new marketplace will allow users to buy, sell, and trade sneakers using cryptocurrency. Nike has partnered with leading blockchain platforms to make this possible, including Ethereum, IPFS, and ERC-721.
The launch of dot SWOOSH is just the latest example of Nike’s commitment to the metaverse. In 2021, the company plans to launch a number of other initiatives that will help it create a more immersive and interactive experience for its customers. These include the expansion of the Swoosh platform and the launch of RTFKT, a new augmented reality app that will allow users to try on sneakers virtually.
With dot SWOOSH, Nike is taking another step towards creating a fully-fledged metaverse ecosystem. By partnering with leading blockchain platforms and launching innovative new products, Nike is positioning itself at the forefront of the metaverse revolution.
Is the Metaverse Ready for Nike-Branded NFTs?
The metaverse is a digital universe that exists parallel to our physical world. It is a place where people can interact with each other and with digital objects using avatars. Nike-branded NFTs could soon become a part of the metaverse.
NFTs are digital assets that are stored on a blockchain. Each NFT is unique and can be bought, sold, or traded like any other asset. Ethereum is the most popular platform for NFTs.
In January 2023, Nike will launch its first line of NFTs. The collection will include shoes, apparel, and accessories. All of the items will be available for purchase with Ethereum.
This is just the beginning for Nike and NFTs. In 2023, we will see more brands enter the space and start to experiment with this new technology.
Will Nike Succeed with Its Web3 .Swoosh Project?
Nike is one of the latest companies to enter the blockchain and NFT space with its Web3 .Swoosh project. The project is built on Ethereum and Polygon and allows users to buy, sell, or trade Nike sneakers using RTFKT crypto tokens. Nike plans to use the platform to launch new sneaker designs and sell limited edition sneakers. It remains to be seen if Nike will be successful with its Web3 .Swoosh project, but the company’s plans are certainly ambitious.
I am Sayan Chowdhury, a Web 3.0 and Blockchain Consultant at GrowGlobal.IO. GrowGlobal is breaking dimensions in the field of blockchain and crypto by creating solutions that allow local businesses to reach the world. First prize winners in the KardiaChain global hackathon and working in building the world’s first Unified Crypto Interface protocol. If you wish to explore the opportunities of Blockchain and NFT-enabled services for your business with us, click here (growglobal.io/book-a-coffee).