Nike Launches Web3 Platform on Polygon

The Web3 space has seen the arrival of many corporate giants, one of which is an apparel manufacturing company, Nike. Over time, Nike has made several digital asset investments that have solidified its stance in the crypto industry. A deal worthy of note is the acquisition of Web3 studio, RTFKT. The 2021 acquisition led to the launch of CryptoKicks, an Ethereum-based collection of digital Nike sneakers, earlier this year. And that is not all Nike intends to make out of the Web3 space.

Just recently, Nike released a Web3 apparel platform on the Polygon network.

The virtual platform, named .Swoosh, will offer its visitors NFT products and services based on the Polygon chain. Creators will be able to develop virtual collectibles with a user-engaging initiative. .Swoosh is the core of all of Nike’s digital asset initiatives. Now, the brand’s customers will be able to create and design virtual collectibles, such as digital sneakers, jerseys, and accessories. In the future, these designers will also partake in royalties from the outfits they design.

Although RTFKT is not in charge of launching .Swoosh, the Web3 studio is helping Nike to further expand into the Web3 space. The developed .Swoosh apparel will be made available for RTFKT avatars. 

.Swoosh jerseys and shoes will also be supported by various online gaming platforms. Users will be granted special opportunities to access and pre-order drops before they are released. .Swoosh’s technology will enable users to access rewards in the real world, like unique physical jerseys or meetings with legendary athletes.

Right now, only a select number of invite-only users are allowed to beta test the Web3 platform. These beta testers will be systematically allowed on the platform as the year comes to an end. Reportedly, a larger audience will be allowed to gain access to .Swoosh’s first digital products in January 2023. Later this week, Nike will open registrations for the platform. A pair of virtual sneakers on the .Swoosh platform might be set at a price below $50.

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