In a press release published on November 14, Nike introduced “.Swoosh”, a new web3 platform powered by the polygon network. According to the luxury sportwear brand he new platform is a destination for virtual assets and Polygon-based non-fungible tokens.
In April of last year, Nike unveiled a collection of virtual sneakers as NFTs, marking the company’s official entry into the metaverse market. Nike is currently one of the best-known luxury brands in the metaverse.
Launching .Swoosh, Nike has showed its its efforts to expand in the metaverse. The sportswear company has provided the new platform with virtual and NFT capabilities, as well as potential pathways for customers to participate in as co-creators and share in digital product.
Nike anticipates adopting the new web3 platform as a market platform for virtual apparel assets, such as t-shirts and sneakers for avatars that consumers may use in metaverse games. Thanks to web3 technologies, users of the new platform will be able to access real-world items like tangible clothing and live chats with well-known athletes.
Nike also has a plan to launch new NFTs in the beginning of the next year. As planned, Polygon was also chosen for Nike to introduce new NFT apparel.
The next virtual sneakers, according to Nike, will cost less than $50 for a pair. In April, Nike released similar virtual sneakers on the Ethereum mainnet. According to the general manager of Nike Virtual Studio, Ron Faris, Nike is “developing a marketplace of the future with an accessible platform for the Web3-curious.” and “the .Swoosh community and Nike create, share, and benefit together” in this new space.
Nike also revealed that it would make digital apparel for CloneX NFT avatars. Clonex NFT’s owners can use new apparel in supported Web3 gaming and metaverse settings.
According to Nike, people would be able to start to register for the .Swoosh project later this week.