Nike’s Big Push Into the Blockchain ‘.Swoosh’ is Now Live

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Nike is expanding its presence in the metaverse with the launch of.Swoosh, a new platform that will house the sportswear company’s virtual footwear, apparel, and accessories. 

Quick Take:

  • Nike has launched a new Web3 platform called.Swoosh, which will provide Polygon-based NFT products.
  • In April, the company acquired Web3 studio RTFKT and released digital Nike sneakers as Ethereum NFTs.

Nike intends to create a robust web3 community in .Swoosh (pronounced “dot Swoosh”). Overall, Users can access exclusive events, collaborate with Nike designers on virtual products, and earn royalties.

Nike Launches .Swoosh for Select Users

The .Swoosh platform is marketed as the hub of Nike’s digital efforts centered on Web3. Essentially, it intends to highlight the brand’s NFTs and virtual apparel initiatives. Not only this, but the platform will offer future opportunities for customers to become co-creators and share digital product royalties.

Nike will use the platform as a hub to launch virtual apparel for avatars such as t-shirts and sneakers that can be used in Web3 games. Moreover, it will utilize Web3 technology to enable users to gain access to real-world benefits such as exclusive physical apparel and chats with pro athletes.

In developing the .Swoosh, Nike worked with the RTFKT team, a well-known NFT brand that Nike purchased in December 2021. RTFKT has expanded beyond the digital world via producing physical versions of some of its Nike-branded sneakers

For the time being, Swoosh is currently in an invite-only beta phase, which means users will need an access code to participate. The platform is accessible through a web browser on mobile or desktop; it is not a social network, so you cannot chat with other users there, nor is there a dedicated app, as with SNKRS.

A destination for virtual apparel and other NFT-based products

Nike is currently selecting the first wave of participants from three groups. First, the group consists of the most engaged customers. Second, those who live in cities that generally don’t get first access to new tech. Third, it will collaborate with its diversity, equity, and inclusion groups.

On Friday, users who have access will be able to claim their. Swoosh handle by registering their own domain—for example, “name.swoosh”. (Those who do not yet have access can sign up for a waiting list.) These domains will serve as users’ digital homes within Nike’s metaverse. Given that, Nike owns the.swoosh domain, which means it has access to all of the domain’s links.

Faris says that Nike will release its first collection of virtual products .Swoosh in January and is not yet selling anything through the domain. Users will have the option to purchase items with standard credit or debit cards, just as they do on nike.com. The brand is remaining tight-lipped about the specifics of its debut collection.

“We’re not gonna sell stuff right away. We really want to be careful and thoughtful about how we invite the community in. And so we’re going to start with a month of education—a six-city tour where we’ll be going to select spaces to help educate.”

Ron Faris, GM of Nike Virtual Studios

Furthermore, beginning in the spring, .Swoosh will host creator challenges in which winners will be able to help Nike co-create a virtual product line. Members will be able to vote on virtual product colorways. These processes will begin with curation. .Swoosh users will guide Nike designers as they progress to creation, where they will have tools to design alongside them.

According to Nike, its virtual releases will be wearables for RTFKT Clone avatars. Virtual products from the brand will eventually be available as wearables in video games, expanding their reach.

Ultimately, .Swoosh will test utilities for the collection’s items, some of which will be tied to physical products and others of which will grant holders access to events.

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