Nike’s digital wearables arm, .Swoosh, has hinted at delving deeper into the realm of video game fashion. The company has also expressed doubts about its non-fungible token (NFT) expansion plans, according to a January 12 blog post.
Nike unveils virtual journey
.Swoosh, the digital flagship of Nike’s sportswear giant, talked about its efforts in a recent announcement and previewed some upcoming plans.
Nike also plans to strengthen its position in video games by launching a new line of virtual products called ‘Nike In-Game Wearables’.
The team says these wearables can be purchased and worn directly in your favorite video games, making gaming virtually real.
The post emphasizes that the focus is on the joy of collecting and self-expression, rather than purely on transactions.
Nike plans to deepen its commitment to the community by offering exclusive physical products linked to in-game wearables, fostering a sense of appreciation for loyal members.
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Beyond digital collectibles
An interesting aspect of Nike’s strategy is its recognition that creators should benefit financially. By the second half of the year, Nike aims to allow users to transfer their digital collectibles to personal wallets that enable trading on third-party marketplaces.
This move is in line with the company’s policy of providing art royalties to creators and promoting collaborative creation.
However, Nike adds that it will not develop its own marketplace, but rather focus on creating products and stories.
This approach aims to focus on what matters most to Nike and its community: a decision rooted in a commitment to product quality and member satisfaction.
Scammers are targeting OpenSea users with Nike NFT scam
Following Nike’s strategic shift to Web3, scammers jumped on the bandwagon to capitalize on all the hype surrounding NFT.
Leading NFT marketplace OpenSea was a target, with scammers sending phishing emails offering an exclusive partnership between Nike and RTFKT with the promise of an NFT offering.
One recipient, MasterJew.eth, co-founder of ApeFathersNFT, went to X to warn the public about the fraudulent scheme.
This incident highlights the need for users to exercise caution and verify communications from trusted sources in the rapidly evolving NFT landscape.
Nike web3 compatible platform
Described on Nike’s official blog as a “web3-enabled platform,” .Swoosh serves as a digital community that promotes inclusivity for athletes, digital creators and collectors.
Positioned as a space to shape the future of sports, .Swoosh allows members to explore and purchase virtual collectibles, including shoes and jerseys, soon to be wearable in digital games and immersive experiences.
According to data from CoinGecko, the global NFT market cap is over $28.1 billion, with a decline of -3.6% and a trading volume of over $2.8 billion in the last 24 hours.
Read more: NFT Market Analysis: 2023 Highlights and 2024 Forecast