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Nike launches Web3 Platform .SWOOSH


Apparel company Nike has announced the launch of .Swoosh, a blockchain-enabled platform and community ecosystem for web3-curious Nike consumers. Membership to the beta version begins this month, with plans to launch the first digital collectibles in 2023 with input from .Swoosh members.

The .Swoosh platform will allow members to learn, collect and co-create virtual apparel and related goods which can be worn in the metaverse. The .Swoosh community members will also stand a chance to participate in exclusive physical products and events with world-renowned athletes and designers.

Long before the NFT hype, Nike launched NikeID, which allowed customers to personalize their own Nike merchandise. Nike’s.Swoosh is part of its strategy to leverage its customizability selling point for the blockchain and NFT movement in apparel.

This strategy is made possible by Nike’s recent acquisition of RTFKT Studios, a startup that uses NFT, blockchain authentication and augmented reality to create one of a kind digital sneakers and other collectibles. Although .Swoosh is a separate project from RTFKT, it uses similar tools and technologies. 

RTFKT grew in prominence for launching sneaker NFTs that sold for more than $3 million shortly after Christie’s record Beeple NFT sale. Earlier this year, the duo revealed Nike CryptoKicks, a collection of customizable NFT sneakers, RTFKT’s first big sneaker release since Nike acquired it.

“This approach meets consumers wherever they play and shop sport and offers a gateway into a new digital arena”, said Ron Faris, GM of Nike Virtual Studios. “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.”

Sports apparel company Adidas is competing with Nike for first-mover advantage in the web3 domain. Last year, Adidas embraced NFTs by partnering with Bored Ape, The Sandbox, and Coinbase through branding Bored Ape Yacht Club #8774 (Indigo Herz). This year, Adidas expanded its NFT projects by collaborating with Prada on the “adidas for Prada re-source” campaign. In addition, Adidas adopted blockchain solution TrusTrace for sustainable sourcing of materials in its supply chain.

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