Nike is set to launch its Web3 platform, .SWOOSH

Sportswear giant Nike announces its upcoming Web3 platform, “Dot Swoosh.”

The company is not new to Web3 – in December 2021, it acquired a creator-led studio RTFKT co-founded by Benoit Pagotto, Chris Le, and Steven Vasilev in 2020. However, Nike’s upcoming platform will not be linked to RTFKT and will instead function as a separate project that aims to make Web3 comprehensible and attract the brand’s traditional fans.

.SWOOSH will become the “home for Nike’s virtual creations” and will let customers co-create the future of the brand and its next-generation phygital garment. The virtual collectibles will include apparel, sneakers, and accessories for games and immersive experiences. Holders will have the option to create, buy, trade, and hold their phygital and virtual items within the platform. Notably, users will also be able to create their domain names under the “.nike” domain to showcase their creations. The collectibles will also grant holders access to online and IRL community events featuring Nike designers and athletes. Customers will also have the opportunity to access special drops and exclusive content, pre-order limited items, and compete in community challenges.