Nike unveils its new Web3 Swoosh platform

Nike does not stop advancing in the web3 field and demonstrates it with a new bet on the metaverse. This time it presents its new platform called SWOOSH where you can exchange various NFTs.

Ending 2021, Nike began signaling its intentions to enter the Web3 world and the metaverse, with its acquisition of RTFKT Studios; a company that brings world-class innovation by offering digital collectibles that combine games and culture through non-fungible tokens.

The sports equipment giant is celebrating 50 years since its origins, and in celebration of that milestone is developing a Web3 platform that uses blockchain technology to generate new digital community experiences for athletes, consumers and digital collectors.

The Swoosh platform aims to create immersive experiences so that its recipients can make the future of sport their own, and be part of creating a new way of experiencing sport. It is currently in beta and will be available in late November 2022.

Thus, the Swoosh will allow people to market, exhibit and exchange virtual products, most of which will be clothing, sneakers or accessories. They will be able to unlock access to events and products, as well as collaborate in the development of products, with the possibility of future use in the metaverse.

Users will be able to log in with an access code to register on the platform and request a user name. Subsequently, in December, the educational period regarding web3 will start for all its users. On that occasion, they will also offer training on the creation of digital portfolios.

This platform is developed on Polygon’s blockchain, to take advantage of its benefits such as processing multiple transactions per second, low costs, and its speed. It will be available for both mobile and desktop.

On the other hand, Nike offers its own domain ““, with the main objective of offering security to the members of its community, so that they feel comfortable when discovering and creating their digital works, as well as their interactive objects.

In addition to virtual objects, it will be possible to gain access to physical products or events, such as private conversations with athletes and designers.

As stated at the beginning of this article, the platform is in beta phase, and that is why it will start with its products denominated in dollars, and not in cryptocurrencies. In the future, all users will be allowed the option to connect their wallets to pay with cryptocurrencies, in addition to transfer their digital collectibles to their favorite marketplaces.

The company itself states on its website that new technologies bring new opportunities to innovate and push boundaries. Sports and culture are evolving and they want to build a future that is creative, inclusive and with unlimited possibilities for all.

Ron Faris, the vice president of Nike Virtual Studios, expressed by way of example that a virtual shoe can allow its owners to pre-order its physical counterpart, allow them conversations with shoe designers or unlock the option to use it in a video game. They don’t see the virtual product as the end of the path to purchase, but as the beginning of the journey.

On the other hand, Faris commented that they will not be selling any products at first. Their initial priority is to take the time to educate their community. The main challenge is to respect the principles of Web3 without becoming inaccessible to the public.

On its official website, Nike mentions that its main point is to expand the definition of sport, and democratize the Web3 experience so that everyone can create and own a part of the new digital world.

Written by Luciano Garriga (TW:@luchogarriga) for NFT Express