Nike Launches Latest Web3 Platform, .Swoosh

Nike has announced it’s latest web3-related investment this week, ‘. Swoosh’. The footwear behemoth isn’t new to the space, but the dedicated platform that is geared towards ‘virtual products’ is on the way later this week, according to a new company landing page & campaign.

We’ve seen some moves from Nike in the space already, and the latest shows the company’s initiative in building more digital-first products. Win an all-expenses-paid VIP trip to the FIFA World Cup and $30,000 in exclusive prizes with Punt Casino – the Road to Qatar awaits! 5 BTC + 300 Free Spins for new players & 15 BTC + 35. 000 Free Spins every month, only at mBitcasino.

Play Now! It’s Not Nike’s First Rodeo We’re approaching one year since Nike first acquired NFT-based studio RTFKT , a move that’s generally been well received from NFT fanatics – particularly with regards to brand engagement. It’s also performed well compared to competitors: there have been $185M in NFT sales of while the NFT project has been under the footwear firm’s wing, which tops the charts in brand sales from NFTs according to reports released mid-year, citing this Dune Analytics dashboard. Nike has also engaged with Roblox with brand IP in-game.

On Monday, the company announced . Swoosh , a new Nike landing page and social channels labeled as “the home for Nike’s virtual creations. ” The brand is utilizing the Polygon blockchain, citing the blockchain’s “sustainability-minded approach” and pledge to be a carbon-neutral chain this year, as reasoning behind utilizing the chain.

What exactly we will see from the platform remains to be seen, but we also know that there will be wallets provided in partnership with BitGo, and account creation will be free; expect virtual apparel that can include physical engagement, like “IRL products and exclusive events. ” BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Related Reading: Elon Musk Tells Twitter Staff ‘Bankruptcy Not Out Of The Question’ – Will DOGE Be Affected? Nike’s new web3 platform, . Swoosh, utilizes the Polygon (MATIC) blockchain.

| Source: MATIC-USD on TradingView. com Big Picture Perspective Nike is an industry leader and has a bigger runway to play with when it comes to exploring new territories. It’s primary competitor in athletic footwear, Adidas, has also pursued their own blockchain-based endeavors; however, other footwear competitors, such as Puma and Under Armour have dabbled less in the space.

Elsewhere in the broader fashion and apparel world, the lion’s share of the activity has been high fashion; Dolce & Gabbana, Tiffany and Gucci trail Nike on the aforementioned Dune dashboard, and other brands like Burberry and Louis Vuitton have engaged in the space as well. In this case, Nike is exhibiting the often-cited ‘building in a bear market. ’ We’ll see how it pans out for them.

Related Reading: USDC Stablecoin Issuer Circle Has Allowed Businesses To Use Apple Pay Featured image from Pixabay, Charts from TradingView. com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.

This op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike. Share Tweet Share Share Sign Up for Our Newsletter! For updates and exclusive offers enter your email.

Sign Up I consent to my submitted data being collected and stored. Leave this field empty if you’re human: Taylor Scott Taylor specializes in crypto activity across sports and entertainment. With nearly a decade of engagement with cryptocurrency, Taylor has spent several years working in talent representation with musicians, comedians, and speakers, and achieved a Sports Business MBA in 2020.

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