top of page

Nike Reveals Its Latest Foray Into NFT And Metaverse Space

Nike, the footwear and apparel giant, has revealed its latest foray into the nonfungible token (NFT) and metaverse space with the launch of an NFT marketplace named .Swoosh.

It has been reported that while .Swoosh is still in the beta phase, Nike announced that its “first digital collection” is set to launch on the Web3 platform in 2023, with the rest of 2022 devoted to growing the platform and user base. Among the “virtual creations” to become available next year are digital sneakers, apparel, accessories, and other collectibles. In addition, some will unlock benefits such as access to real-life products and events.

However, following the first collection drop, members can enter a community challenge to win the opportunity to co-create a virtual product with Nike. According to Nike, the winners of the challenge can earn an undisclosed amount of royalties on the virtual product they help co-create.

Ron Faris, the General Manager of Nike Virtual Studios, said that .Swoosh offers a “gateway into a new digital arena,” while the Twitter post from Nike said the platform would help “onboard the next millions” into the “wonderful world of web3 and digital assets.”

He added:

“We are shaping a marketplace of the future with an accessible platform for the web3-curious.”

The report said that in 2021, Nike entered the metaverse game through the acquisition of virtual sneakers and collectibles brand RTFKT. It also launched the virtual world Nikeland. .SWOOSH uses similar tools and technologies but all three are different projects for the company.

Likewise, a one-of-a-kind NFT of the Birkenstocks sandals worn by Apple co-founder Steve Jobs at various times during his life has sold for $218,750 at an auction. Julien’s Auctions ran the auction from Nov. 11 to Nov. 13, with 19 people overall trying to claim the footwear with offers ranging from $15,000 to $175,000. Included in the deal was an NFT featuring a 360° digital representation of Steve Jobs sandals, which was minted on the Polygon blockchain.

Thus, the NFT is a 1-of-1 edition and included the physical sandals, with the “imprint of Steve Jobs’ feet.” It also came with a hard case for storage and transport and a Jean Pigozzi book titled The 213 Most Important Men in My Life. Initially, the sandals and NFT were projected to fetch between $60,000 and $80,000, but after 19 bids, the sandals ended up going for $218,750. The new owner of the sandal NFT has not been publically disclosed.

Source: Cointelegraph


Thanks for submitting!

bottom of page