Nike Ventures Into web3 With Exciting Metaverse Platform .Swoosh

Nike Ventures Into web3 With Exciting Metaverse Platform .Swoosh

News by Anja PaspaljAnja Paspalj
Published: November 16, 2022

Welcome to .Swoosh — Nike’s venture into the metaverse!

It comes as no surprise that an industry innovator such as Nike is taking the adventure to a new level, aiming to build an extensive web3 community where users will be able to experience the sportswear brand in a different light.

This will not only be a metaverse platform that offers the brand’s virtual footwear and apparel, but a space where users will be able to earn exclusive access to real-life events and even collaborate in creating products by becoming part of the design process.

Ron Faris, the man behind the SNKRS app, is set to lead Nike Virtual Studios, a separate division within the company focused on successfully bringing the brand into the metaverse.

“We are shaping a marketplace of the future with an accessible platform for the web3-curious,” explains Faris. “In this new space, the .Swoosh community and Nike can create, share and benefit together.”

They are also enlisting the expertise of RTFKT, a leading creator of virtual sneakers, collectibles and experiences that Nike acquired in 2021.

(Source: Nike)

Currently, .Swoosh is in the beta phase and is set as invite-only. There is already a full waitlist for registration and the first digital collection is set to drop in January 2023.

The potential of web3 has been recognized by many world-renowned fashion and streetwear brands. However, Nike has approached the development of .Swoosh with intentionality that focuses on education as well as brand growth.

A six-city tour will be organized to educate potential users on the metaverse and web3. It will essentially prepare customers on what .Swoosh is all about before they become a part of it, making sure that they can make the most of the digital experience.

This differentiates Nike’s direction from the approach of most clothing brands thus far – preparing a global audience to venture into the metaverse with them and building a virtual community that will thrive long-term.

As Ron Faris explained:

“What we really want to do is broaden the definition of what a creator can be.”

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