RTFKT, pronounced artifact, is Nike’s Web3 branch and now has 10 Ethereum Name Service (ENS) domain names. They also bought dotswoosh.eth on Friday for 19.72 ETH, or about $35,000.
Graphic designer Carolyn Davidson designed the iconic Nike ‘swoosh’ logo in 1972 and was reportedly paid just $35 for the effort. The price of 19.72 ethereum (ETH) could therefore be a reference to the year the swoosh first appeared on a pair of shoes.
What will Nike do with the Ethereum Name Service?
Why Nike bought a dotswoosh domain is still unknown. However, some think they may have done this to create subdomains again later. ENS subdomains are managed by the person who owns the domain name. Nike may be able to do this so that holders of specific non-fungible tokens (NFT) or other assets are allowed to create a special ENS subdomain under dotswoosh.eth.
Whatever their plan is, this isn’t the first time Nike has claimed a domain name, brand, or logo. For example, last year, Nothing trademarked Nike, Nikeland, the Nike and “Jumpman” logo and the phrase “Just Do It” for use in the metaverse. In addition to dotswoosh.eth, RTFKT also has artifacts.eth, rtfkt.eth, skinvial.eth, drmos.eth, mintvial.eth, dreamos.eth, spacedrip.eth, dripcoin.eth, and m2tekno.eth.
Nike’s Metaverse Plans
Judging by the different domain names, Nike actually has a plan for this. The Mint Vial most likely refers to the CloneX Mint Vial Ethereum NFTs, which can be used to create special CloneX avatar NFTs.
For example, Space Drip would be a reference to the Nikes again Space Drip NFTswhich are digital shoes NFTs that allow the owner to experience physical shoes.
RTFKT’s Skin Vials can also be used to enhance the look of Nike’s RTFKT CryptoKickswhich came out last month.
Earlier in the ethereum news it was stated that Ethereum Name Service is becoming more and more popular and even breaking several records.