On November 14, 2022, Nike announced the launch of its Web3 ecosystem called .SWOOSH — focused on championing athletes through an inclusive community and experience platform for Nike digital creations (NFTs).
.SWOOSH will enable Nike members to collect and eventually create their own digital creations.
Nike took a big leap into Web3 with the purchase of RTFKT Studios, which has now seem them earn over $1.3 billion in sales of virtual items… All aspects of these drops and the execution were close to flawless. Shrowded in mystery, creating mass FOMO was purchasing a MNLTH box (below) and after some time Nike announcement you could now connect your wallet to discover what was inside.
EA Partnership Deal
Things got really cool just last week.
Not only has Nike jumped head first into Web3, building true community and delivering products people are fighting over.. now they’ve pulled off the holy grail of web3, with a very web2 usually “walled garden” business — EA Sports.
.SWOOSH virtual assets will be interoperable (allowed to be used inside) EA Sports gaming ecosystem. The press release said that the collab will allow .SWOOSH members and EA Sports fans to “express their personal style play”.
This is a huge win for web2 gaming empires like EA Sports opening up to the idea of having virtual assets that belong to the user, being able to be used within their gaming ecosystem (and taken out if they want).
Originally, both brands did not discuss NFTs when the partnership deal was sealed. However, they plan to include these digital collectibles in the future. Ron Faris said Nike, and EA Sports will prioritize innovation, creativity, and excellence.
Faris said Nike is happy to collaborate with EA to birth a new era where the .SWOOSH community and the ever-growing EA Sports supporters’ base will have access to unrestricted opportunities to showcase their creativity. While speaking with journalists, Andreas Hopelain, of EA Sports, said they have set their sight on spearheading the next evolution in sports fandom.
We don’t currently have a lot of information about the specifics of this partnership, but it’s definitely a step in the right direction.
What is .SWOOSH?
.SWOOSH is a Web3-powered ecosystem that promotes athletes and seeks to reposition the future of sports by enabling an all-encompassing community of digital creators. As a marketplace, .SWOOSH is designed to harbor all of Nike’s digital creations. Ron Faris, the head of Nike’s Virtual Studio, while interacting with journalists said they building a revolutionary marketplace that will shape the future for Web3 enthusiasts. Faris further revealed that the .SWOOSH project is a win-win for both Nike and the community as both will greatly benefit each other. He said the Nike community of users is eager and ‘hungry’ to co-create the future of sports with us.
To ensure that all members are protected, .SWOOSH has its own exclusive domain (welcome.swoosh.nike) which is safe for all users. The ecosystem allows creators and community members to express themselves in new and captivating ways. For the Nike brand, .SWOOSH is an authentic way to engage deeply with its community worldwide. It is deployed on the polygon blockchain network.
How to Become a Member of the .SWOOSH Community
To become a member of the community, all you have to do is log in to the designated domain and register. After the registration, successful registrants will be provided an access code that allows them to select their preferred .SWOOSH handle. Once you have done all these, you can set up your account. All those unsuccessful will be added to a waitlist.
Users can also get access codes through real-life community events and also via interacting on the .SWOOSH website. It is also important to note that .SWOOSH is currently only available in some countries as local regulations differ from one country to another.
Why .SWOOSH?
Nike management believes that digital wearables are integral to the company’s future. The platform .SWOOSH is the gateway through which Nike showcases its digital transformation plan for the future. It is an avenue via which the company can build a community of users different from the customer journey. Nike’s physical products ensure the customer’s journey terminates at the point of sale. However, with .SWOOSH, the point of sale is the starting point of the customer’s journey.
Web3 is the right innovation for the Nike team to power its global community growth. As against the general idea of exclusivity and scarcity that rules the NFT marketplace, .SWOOSH focuses on inclusivity and accessibility for its community of users.
Benefits of .SWOOSH
The platform presents the perfect avenue for members to interact and express themselves through digital creations. .SWOOSH allows creators to express themselves in the best way possible. Aside from the excellent opportunity for creators to express themselves, the platform also creates an avenue for creators to earn good rewards for their creations. For example, on January 25, 2023, Nike announced that community members of its .SWOOSH platform can earn USD 5000 for their virtual sneaker designs.
.SWOOSH is a revolutionary Web3 concept that serves as a blueprint for corporations seeking to build a Web3 community. Aside from showcasing how brands can leverage their customer base to expand their product reach, .SWOOSH also proves that product users can enjoy direct interaction and rewards from their favourite brands. You can visit the official brand website for more information
The team from Nike has done an amazing job of capturing the essence of Web 3 with .Swoosh.