Nike is still trying to enable NFTs with .Swoosh

Nike didn’t offer too many details about exactly what to expect but suggests that one day you’ll be able to use its assets as wearables in digital games and “other immersive experiences.” While registrations for the platform open on November 18, don’t expect to actually buy anything: the first .Swoosh digital collection isn’t out until January. Once that happens, Nike says creators can “take on a community challenge to win the chance to create a virtual product with Nike” and earn a royalty on all sales.

Total monthly NFT sales volume in 2022.
Image: NFT Indexes Quarterly Report – Q3 2022

This announcement comes after Nike bought RTFKT Studios last year, a Web3 company that makes NFTs and sneakers “for the metaverse.” It probably looked like a strategic buy at the time, as crypto was at its peak last December and earlier this year, with data from indicating monthly NFT sales have crashed since peaking in January.

“We are shaping a marketplace of the future with an accessible platform for web3 curious people,” said Ron Faris, Vice President of Nike Virtual Studios. “In this new space, the .SWOOSH community and Nike can create, share and benefit together.”

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