Nike NFT launches Web 3.0 platform on Polygon in 2023

Updated November 17, 2022, 12:23pm

Nike NFT is stepping up the march into Web 3.0 by developing its own project. This event was to be expected if we knew about Nike’s investment in the ecosystem, especially with the acquisition of RTFKT and the production of Nike NFT.

The brand just announced the launch of .Swoosh, a blockchain-enabled platform and community ecosystem for Nike web3 consumers. Beta membership is imminent, with plans to launch the first digital collectibles in 2023 with input from .Swoosh members.

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.Swoosh, the platform of the brand

Having already made its place within the crypto and NFT ecosystem, with their brand RTFKT, Nike sees even more with its future digital platform .Swoosh.

RTFKT rose to prominence when it released NFT sneakers which sold for over $3 million.

Earlier this year, the duo introduced Nike CryptoKicksa collection of customizable NFT sneakers, RTFKT’s first major sneaker release since Nike acquired it.

On the .Swoosh side, the goal is to create ambiance similar to the shop Nike product line, where all Nike products will be featured on the blockchain.

The Nike Brand Project is a platform that will allow members to learn, collect and co-create virtual apparel (NFT) and wearable products in the metaverselike sneakers and t-shirts.

Members of the .Swoosh community will also get the opportunity to participate in exclusive physical products and at events with world-renowned athletes and designers.

While the platform is expected to allow its first registrations this month, it will only open on November 18 its doors towards the end of the year with plans to see the first NFTs land for January 2023.

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Nike .Swoosh will use polygon

Nike has already done more than $180 million in revenue through its projects using blockchain technology, including NFTs. The brand does not intend to stop there with the .Swoosh and will use the Polygon blockchain (MATIC) for mint platform NFTs.

On Twitter, the Polygon blockchain account confirmed that the Nike .Swoosh crypto project was built on this blockchain:

All Nike NFTs are already on Ethereum. If the brand wants to use Polygon for the .Swoosh, is to sell his NFTs at a bargain price.

Nike Virtual Studios wants to sell its sneakers for $50the use of Polygon (MATIC) is therefore understandable thanks to its very low fees. Using Ethereum with its too high fees would have made no sense.

Having already collaborated with Meta and thanks to .Swoosh and many other projects, Polygon is heading in a great direction.

Adidas is in strong competition with Nike. Already inside collaboration with Bored Ape Yacht Club (BAYC)and many other projects Adidas is gradually building its place within the crypto ecosystem. In the same way another competitor is added to the list: Puma, who also released a project in metaverse: black station.

Finish, Nike had acquired the studio to create trainers and virtual items RTFKT extension, and launched its first pairs of virtual sneakers in collaboration with it. Finally, which of the three competitors will be number 1 in digital wearables?

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