Nike has announced the debut of .SWOOSH, a store and trading platform for virtual sneakers. Still in beta mode, the marketplace allows members to buy and collect virtual products. Members will also have the opportunity to co-produce designs with Nike and receive a percentage from the sold virtual products. Built on Ethereum, a web3 platform, .SWOOSH will use BitGo third party wallet technology.
Accessible on swoosh.nike, the platform will send invitations to Nike member on November 18, 2022 with the platform opening to a broader audience in January. As part of the effort, Nike has debuted Instagram feed @dotswoosh where updates on the platform will be available for the general public.
In press about the platform, Ron Faris, general manager of Nike Virtual Studios told Complex, “It will be a place where our community can come in and co-create that future with us. You can collect, trade, and flex Nike virtual products. You can go to IRL events with your token-gated virtual creations.”
In May 2022, the .swoosh domain was acquired by Nike-owned RTFKT on the Ethereum Name Service (ENS) domain for 19.72 ETH, approximately $38,000.