World-renowned sports brand Nike is set to launch its own platform, called .Swoosh, where Nike fans can collect and even co-create non-fungible tokens (NFTs) with the company.
Ron Faris, general manager of Nike Virtual Sudios, says:
”We are shaping a marketplace with an accessible platform for the web3 discoverers. In this new space, the .Swoosh community and Nike create, share and benefit together.”
Nike in the metaverse
This is not the company’s first step into the world of NFTs. As early as the end of 2019, Nike announced that it wanted to “tokenize” its shoes using NFTs on the Ethereum (ETH) blockchain. At the end of 2021, the company had also launched ‘Nikeland’ for the children’s computer game Roblox, which attracted a total of more than 26 million visitors.
On December 13, 2021, Nike announced that it had acquired RTFKT, an NFT company focused on collectibles from the gaming world. RTFK added dotswoosh.eth to their list of Ethereum Name Service (ENS) domain names in May this year.
Since the acquisition of RTFKT, Nike has released several NFT collections. In April, it released the ‘Cryptokicks’ collection which consisted of a total of 20,000 NFTs. One of these NFTs was designed by Takashi Murakami, a Japanese artist, and sold for a whopping $134,000.
NFT turnover
Nike has generated a total of $185.12 million in NFT sales, according to data from Dune Analytics. Of that $185 million, $93 million came from primary sales revenue and $92 million came from royalties. With this, Nike clearly scores better than other brands that have entered the NFT world. Dolce & Gabbana is in second place with a total turnover of $23.69 million.
The most popular collection was Clonex with a total volume of $798.68 million. This collection consists of 20,000 3D avatar NFTs called ‘Clones’. The bottom price of this collection doubled after news broke that Nike had acquired RTFKT. It went from 3 ETH to 6 ETH.