Nike’s Swoosh Will Give the Perfect Virtual Shopping Feels to Shopaholics!

Nike's.Swoosh Web3 project, is an NFT marketplace built on the Polygon blockchain

Nike has been one of the biggest fashion-world players in Web3 through RTFKT, the NFT and digital apparel startup it acquired in late 2021, and we've seen the apparel giant gradually bring its own brand into the space as well. Nike's .Swoosh project, an NFT marketplace built on the Polygon blockchain. While the timing of the launch has a few chins scratching, Nike is banking that NFTs aren't going anywhere soon and that it's better to be in than out when it comes to Web3 and crypto.

Per a blog post introducing .SWOOSH, Nike's Web3 virtual apparel store will start off by allowing users to collect virtual items. Further down the line, however, the platform will also allow users to trade their virtual items with other users and co-create the virtual items launched through the platform.

Nike's .SWOOSH NFTs will be issued on Polygon, an Ethereum-compatible platform that offers lower fees and faster transactions than the Ethereum mainnet. The .SWOOSH Web3 platform will launch on November 18, but interested users will have to wait until January next year for its first digital collection.

"We are shaping a marketplace of the future with an accessible platform for the web3-curious," said Ron Faris, GM of Nike Virtual Studios in a statement. "In this new space, the .SWOOSH community and Nike can create, share and benefit together."

Registration will open later this month, and Nike plans to grow the platform by inviting a community that is as diverse and equitable as possible. That translates to prioritizing local communities that Nike supports across its diversity, equity and inclusion initiatives, beginning in the U.S. and select European countries, and skill-building with them so that they're ready to participate.

Nike Launches Its .Swoosh Web3 Platform

Nike's .Swoosh platform will become the focal point of its efforts to push into Web3 services. It will feature NFTs for all manner of Nike's Web3 virtual apparel store, including iconic sneaker designs, clothing lines, collectibles, and more.

There is also the promise of future collaborations with Nike-sponsored pro athletes, unique real-world perks for owning Nike NFTs, and a whole ecosystem of Web3 integration.

Nike NFTs haven't popped up out of the blue. In 2021, Nike bought NFT and digital apparel startup RTFKT. It also trademarked its name, the "swoosh" logo, and its "Just Do It" slogan for use with virtual goods, signifying an imminent foray into digital apparel and Web3 services.