The Nike metaverse expanded further with the launch of the .Swoosh (pronounced “dot Swoosh”) platform. It lets you make branded sneakers for digital space.
The sportswear company wants to create a Web3 community that will let users access exclusive events. Also, the Swoosh platform will let people work with Nike designers in creating digital products.
Ron Faris, general manager of Nike Virtual Studios, said, “You can collect, trade, and flex Nike virtual products. You can go to IRL events with your token-gated virtual creations.”
How does the Nike Metaverse .Swoosh work?
Photo Credit: banyanhill.com
Web3 or Web 3.0 is the next version of the internet. It will allow people to create and share products and ideas more conveniently.
The metaverse is a part of that concept. It will connect the real world to digital spaces to expand functionality to the point that they would “merge” into one.
Contrary to popular belief, Meta is not the only one that wants to realize this vision. Billion-dollar companies like Nike want to become early adopters.
That is why it created the .Swoosh Nike metaverse platform. You may register later this month, but it will prioritize the US and Europe.
As mentioned, you may create virtual shoes that you can sell for profit. Also, you can buy them as collectibles.
Nike Inc. acquired several companies to invest in Web 3.0 and the metaverse. For example, it acquired RTFKT, a creator of digital sneakers, accessories, and other collectibles.
Analysts say Nike’s acquisition had “strategic value” to “expedite the expansion into Nike’s potential NFT offerings.”
That means .Swoosh goodies are NFTs or non-fungible tokens. These record ownership of physical and digital objects to assign unique value.
Non-fungible tokens recently became popular as ways to earn huge profits. However, the NFT market is currently experiencing a major downturn.
Conclusion
The Nike metaverse has been around before the launch of .Swoosh. On November 18, 2021, the sportswear brand launched Nikeland.
It is a 3D space accessible in the online video game Roblox. Nikeland enables players to purchase and equip in-game Nike apparel.
They improve game character appearance while providing in-game abilities like running faster. You could also boost your skills by reading more Inquirer Tech.