A new web3-enabled platform for Nike’s virtual designs and online community has been released. The platform, called Swoosh, will have its own domain name, welcome.swoosh.nike, and users will be able to create, buy, and possibly earn royalties from interactive digital products like virtual shoes or jerseys.
Currently, in the beta phase, registration on the domain opens in November with the release of the first digital collection that was created by its members and will make its debut in 2023.
Members will be able to participate in a community challenge soon after the debut of the first digital collection in an effort to earn the chance to collaborate with Nike on virtual goods. The victors are eligible to receive a royalty on the virtual good they helped develop.
In a statement, Ron Faris, GM of Nike Virtual Studios, said: “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.”
With the acquisition of RTFKT, a company that specializes in NFT and cryptocurrency collectibles, last year, Nike has been a leader in blockchain technology and digital sportswear in the metaverse for some time. Nike is eager to establish its footprint in web3 by being on the cutting edge of the intersection of culture and gaming.
Despite the shifting value of NFTs and digital apparel, where much is driven by hype, the potential for sportswear and fashion in the internet world are likely to be new income sources.
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