Nike to launch new Web3 platform called .SWOOSH

Nike is to launch a new Web3 marketplace platform where its digital community will eventually be able to purchase, sell and create virtual footwear.

Currently in Beta, the .SWOOSH platform will be a home for Nike virtual creations and use blockchain-powered technology to offer an “inclusive, equitable place for athletes, creators, collectors and consumers to design and own the future of sport”.

Nike community members will be able to learn about and collect virtual creations such as shoes and jerseys and wear them in digital games and immersive experiences. In some instances, they will be able to unlock access to physical product or events like intimate conversations with athletes or designers.

Ron Faris, general manager of Nike Virtual Studios, said the approach meets consumers wherever they play and shop sport and offers a gateway into a new digital arena.

He added: “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.”

Registration to join .SWOOSH is opening this month, starting with the US and select countries in Europe. For the rest of this year, Nike will grow the platform by inviting in a community that will be “as diverse and equitable as possible”.

Next year, Nike will be dropping its first digital collection which will be shaped by the platform’s community. Shortly afterwards, members will be able to enter a community challenge to win the opportunity to co-create virtual product with Nike. The winners will then earn royalties on the virtual product they helped create.