Nike has been one of the largest fashion-world participants in Web3 via RTFKT, the NFT and digital apparel firm it purchased in late 2021, and we’ve seen the clothing giant steadily integrate its brand into the field as well. Nike plans to ramp up its efforts with the debut of a new platform dotSwoosh.
The dotSwoosh platform is marketed as the hub for Nike’s digital endeavors centered on Web3. It’s intended to highlight the brand’s NFTs, virtual clothing projects, and future methods for consumers to become co-creators and partake in digital product royalties. Nike will utilize the platform as a center to introduce virtual items such as t-shirts and shoes for avatars that can be used in Web3 games.
It will also leverage Web3 technology to enable users to gain real-world rewards such as special physical gear or conversations with pro sportsmen. Other prominent NFT ventures, such as one from Adidas, include genuine gear or real-world incentives. According to Vogue Business, Nike intends to progressively let more users onto the exclusive platform by the end of this year, ahead of the first NFT drop in January 2023. Nike intends to launch user enrollment later this week
Nike’s NFT clothing will be minted on Polygon, while past Nike and RTFKT drops have already been released over the Ethereum mainnet.
According to a Fast Company story, Nike aims to offer digital shoes for less than $50 per pair.
An RTFKT spokesperson explained in a Twitter thread that the studio isn’t in charge dotSwoosh project, but it is assisting Nike as it goes deeper into Web3. Nike will also offer digital clothes for RTFKT’s CloneX NFT avatars, which owners can wear in compatible Web3 gaming and metaverse settings.