Nike Launched A Web3 Portal “.Swoosh”

The demand for Web3 is going to be even more as the international brand Nike has launched a web3 marketplace platform. Here the users will be able to create virtual footwear and buy or sell them.  

The sporting gear industry revealed this on November 14. Swoosh described it in a blog post on the Nike website as “a web3-enabled platform that honors players and supports the future of the sport by establishing a new, inclusive digital community and experience and a home for Nike virtual creations.” 

The.SWOOSH platform, which is now in beta, will serve as an archive for Nike’s digital works and utilize blockchain technology to provide “an inclusive, equitable environment for athletes, producers, collectors, and consumers to build and control the future of the sport.”

Members of the Nike community will be able to discover and acquire virtual creations like shoes and jerseys and wear them in virtual experiences and games. They may be able to gain access to real products or special occasions, such as private chats with athletes or designers.

You can access the platform at The members will be able to wearable in the future in digital games and immersive experiences.

Through the blog post, NIKE talked about the motivation that led to this platform as

“To broaden the concept of sport – and serve its future – by democratizing the web3 experience so that everyone can gather, develop, and own a piece of this new digital universe.” 

Features of .SWOOSH

According to Nike Virtual Studios general manager Ron Faris, the strategy reaches customers wherever they play and buy sports and provides a portal into a new digital space.

He further added “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.”

This month, SWOOSH launches its registration first in the US and a few European nations. In order to expand the platform for the remainder of this year, the company will seek out a community that is “as varied and equitable as possible.”

The company will release its first digital collection in the next year, which will be influenced by the platform’s user base. Following that, users will be able to participate in a community challenge for a chance to co-create an online product with the brand.

The winners will subsequently get royalties on the virtual good they contributed to creating. Athletes and designers who are connected to the brand are mentioned along with online and offline events.

In the upcoming months, Nike Virtual Studios will have six of these gatherings in various U.S. cities, at which time the business will hand out platform access codes. Nike has made a point of emphasizing the value of diversity in this area by often utilizing the phrase “inclusive community.”

Nike’s interest in Digital technology

Nike has already established a solid reputation among web3 users. Last year it launched a branded virtual experience known as Nikeverse in Roblox.  Roblox is not blockchain-based but has developed into one of the most popular entry points into the metaverse.

It is a young but quickly developing virtual world that many in the web3 community would argue is integral to the web3 movement. The brand also debuted its NFT campaign with CryptoKicks at the end of 2021.

The company also took over RTFKT Studios. It is a well-known brand that uses cutting-edge technology to produce next-generation collectibles that combine culture and gaming.

Nike has reportedly earned at least $185.3 million selling Web3 items, surpassing its rivals Puma and Adidas, according to Vogue Business.

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