Nike Announces It’s Building Its Own Web3 Platform ".SWOOSH"

As brands continue to explore more opportunities within the metaverse, Nike still leads the pack. Last year, the Swoosh successfully purchased digital design studio RTFKT in order to kickstart its voyage into Web3, but now the Beaverton-based brand has announced that it's building its own strategy - one that’s designed to appeal to Nike fans, and not just crypto enthusiasts.

Having announced the platform on the 10th of November, .SWOOSH sits under Nike’s Virtual Studios division, and has been designed to house all of the brand’s virtual creations. The scope of the platform means that users can collect, create and interact with Nike’s digital products, with trading also being a goal later down the line.

Headed up by Ron Faris, the former head of Nike’s SNKRS App, it’s clear that community is a big part of the new platform. After the initial drop of digital products, users will be able to unlock special drops and pre-orders, as well as have the opportunity to attend real-life events. Another key community-based component will be the platform’s emphasis on co-creation, which will allow users to create, sell and earn royalties on their digital designs.

Nike’s RTFKT project is now a firm fixture within the crypto world, but the idea with .SWOOSH is to open up Nike’s metaverse experience to a wider audience. This means that the brand will be working hard to educate users about the platform, with a number of in-person events planned across the US. Faris also stressed the importance of creating a safe onboarding system and explained that Nike would be inviting some of its signature athletes and influencers to help launch the project and show just how important the digital community could be when it comes to redefining the meaning of being a ‘creator’, and how these creators can redefine the future of sports.

Ready to see what Nike has in store in the Metaverse? An initial batch of Beta testers will be able to sign up from Friday 18th November, but keep it locked to find out more about the project and how it develops.

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