Nike x RTFKT Announce .SWOOSH Web3 Initiative

Nike is slowly growing its presence in the web3 digital fashion space. After acquiring digital design studio RTFKT - responsible for the CloneX NFT Collection - Nike just announced its decision to launch a standalone web3 initiate dubbed ‘.SWOOSH’ aimed to educate and bring more mainstream members into the web3 space. The project is headed by VP Ron Faris, the former head of the popular Nike SNKRS application. “It will be the home of Nike’s virtual creations” says Faris. .SWOOSH will launch on Friday Nov 18 (access code registration begins today). The .SWOOSH platform will be an online marketplace to buy and trade their RTFKT x Nike Digital collectibles. It will be an all-in-one hub to access events, create products, vote on the design direction of upcoming releases. “We don’t see that virtual product as the end of the purchase journey; it is the beginning of the journey.” says Faris. This is a major step towards combing the physical and digital world - phygital. Owning digital products can give you access to a number of things: claim to the physical real-world product, events, and much more. Some key points to the .SWOOSH announcement: - .nike domain names for marketplace users as a display and potentially sell their goods. - Co-creation: such as ability for people to weigh in on design elements and sell their own

- Nike Virtual Studios to host events in six cities - Atlanta, Los Angeles, Charlotte, Tallahassee, Louisville and New York in coming months to distribute access codes for registration to .SWOOSH. - Virtual goods marketplace to launch in ‘at least a month’

- purchased dotswoosh.eth domain for 19.72 ETH (Approximately $38,000 at the time)

- co-created products, including earning royalties on virtual goods.