After its collections of customizable NFT sneakers, Nike is expanding its virtual universe a little more with the launch of its Web3 platform. Called .Swoosh, the project is set to revolutionize the fashion industry as well as retail.
Nike: a Web3 platform to integrate the community into creation
The brand created this Web3 platform to host, according to its terms, all its virtual creations. The project is developed by Nike Virtual Studios and led by Ron Faris, Vice President of Nike. Concretely, .Swoosh offers NFT products based on Polygon. The platform will allow users to display their NFT collections, buy products (sneakers, clothes, avatars, etc.) and discuss the Nike universe.
Users can also gain access to exclusive events or meet celebrities through .Swoosh. In addition, the new platform will allow the brand to develop a community of creators who will be able to work on creations virtual. Moreover, this notion of co-creation is one of the key elements of the project. “We see a virtual shoe that one day unlocks access to a pre-order of a physical shoe”explains Faris.
A first collection planned for January 2023
Nike plans to launch its first collection on .Swoosh in January 2023. The platform is still in beta. Nike indicates that the first group of beta testers can register from this Friday, November 18 to obtain access codes. For the moment, there is no sale. Nike will initially focus on training and educating the community. The brand emphasizes diversity, equity and inclusion. The platform “will be based on the pillars of community, co-creation and loyalty”according to Faris.
Nike made its first foray into Web3 last December with the acquisition of RTFKT. This merger allowed the brand to launch CryptoKicks, a collection of NFT sneakers. The sale of Web3 products brought in at least $185.3 million for Nike. With .Swoosh, the brand wants to expand the network of its Web3 strategy, going beyond RTFKT’s clientele.
Through this Web3 platform, Nike wants to revolutionize fashion and retail by connecting the physical and the digital. With .Swoosh, consumers enhance both their online and offline identity, while having the opportunity to participate in the creation of a branded product.
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