Nike Enters Web3, Metaverse, And NFT Aims To Offer Virtual Products

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Nike, one of the largest sportswear brands in the entire world is the latest mainstream company to enter the crypto-verse.

The sportswear giant has decided to enter the space with style and has already caught the attention of many.

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Nike Launches .SWOOSH

The officials at Nike have made a major announcement confirming that they have launched a new platform that is based on Web3 technology.

They have dubbed the new Web3 platform “.SWOOSH” and it will be used by Nike to explore the metaverse and NFTs on a different level.

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The company wants to launch virtual apparel products such as sneakers and t-shirts. These products will exist virtually in the metaverse and the users will be able to buy them for their avatars.

Nike Wants to Dominate Web3

Nike is among the mainstream companies that are very interested in Web3 technology and wants to use it to expand its business and sales.

The company is now offering virtual products for the users that they will be able to buy for their avatars.

Although Nike has launched a platform into the metaverse for the first time it does not mean it is new to the industry. Last year, Nike acquired a virtual sneakers company, RTFKT.

The products created by RTFKT are all integrated into the metaverse so they can be accessed from the platforms.

The particular company is known for creating digital and non-fungible token-based sneakers. At that time, the market observers knew that Nike will soon come up with something amazing.

.SWOOSH is Still under Development

The teams at Nike working on the .SWOOSH project has confirmed that they are still working on the development of the project.

However, they have introduced the platform so that users can interact with it and get a first-hand experience of the platform.

As the users interact with the platform, they will be able to point out any kinds of problems or issues with the interface of the platform or its functionalities.

Purpose of the Project

As the platform is available for users, they will be able to interact with the multiple features the platform has to offer. They can interact with it and offer any kind of upgrades and tweaks to the project.

Their focus is to ensure that the adoption of the protocol is worldwide. They want to bring more users to their platform and therefore, they are taking such measures.

They want to launch multiple virtual apparel initiatives as well as come up with multiple NFTs. The non-fungible tokens they launch will represent their brand.

Major Feature for the Users

Nike has announced that using their .SWOOSH platform, the users will have the chance to become co-creators of the digital products and NFTS.

By doing that, the users will be able to earn royalties on the products they create and are sold through.SWOOSH.

This new feature is definitely going to be a game-changer for the entire metaverse and the NFT industry. It is going to attract millions of users to Nike’s side and it will grant huge influence to Nike in the industry.

Giving the users to become the co-creators of Nike products is something that millions would find interesting. As royalties start coming in for the users, they will be able to earn a lot of money from that.

Nike Virtual Studios Manages the Project

The virtual arm of Nike, Nike Virtual Studios will be looking after the project. Ron Faris, the vice president of Nike Virtual Studios will be leading the project.

In the past, Faris had supervised the Snkrs application that was launched by Nike. With his expertise in virtual and software technologies, Faris will be able to execute the project with perfection.

If Nike is going through the hassle of launching its own metaverse and NFT-based platform, the community can think about seeing a new token being introduced by Nike.

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