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Nike has launched a new .SWOOSH platform to dive into Web3.

The footwear giant's latest Web3 move will allow community members to create and trade their own digital collectables.

In addition to releasing .SWOOSH, a new digital wearables platform geared towards developing a community, Nikes aid Monday that it will be a resource for Web3 learning and a platform to buy and sell virtual collectables like virtual shoes or jerseys. These items can be worn in video games and other immersive experiences, according to the company.

 

Users will be able to create their own collections on the .SWOOSH platform, which will allow them to earnr oyalties. The future marketplace is a place where Web3-curious individuals can create, share, and benefit, said Ron Faris, GM of Nike Virtual Studios in a press release.

 

Over the past few years, Nike has been working to enhance its Web3 strategy. In December 2019, the company filed a patent for Web3 sneakers called “Cryptokicks” and tested them with an RFID lab in March 2020.

 

In March 2020, RTFKT Studios, a digital fashion company, created non-fungible tokens (NFTs) in-house after acquiring them. In April, the company debuted a metaverse sneaker collection known as RTFKT x Nike Dunk Genesis Cryptokicks.

 

The .SWOOSH platform is currently in beta and will open its registration by the end of November in anticipation of its first drop in 2023.

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