Nike to launch .Swoosh, an NFT-enabled platform for designing and trading virtual shoes 

Nike’s foray into non-fungible tokens comes a year after it bought RTFKT Studios, a Web3 company that makes NFTs and sneaker

Nike’s .Swoosh is a Web3 platform that will allow users to buy, sell and eventually design virtual shoes and apparel.

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Currently, in beta, .Swoosh has its own domain and will allow members to learn about, collect, and eventually co-create digital wearables like shoes and jerseys, Nike shared.

After the release of the first digital collection, members will be able to enter a community challenge. Nike will give winners of the challenge the opportunity to co-create virtual products and earn royalties.

Nike also suggested that one day users will be able to use its assets as wearable items in digital games and other immersive experiences.

Registrations for . Swoosh will start later this month with the first digital collection shaped by members releasing in 2023.

Nike’s foray into non-fungible tokens (NFT) comes a year after it bought RTFKT Studios, a Web3 company that makes NFTs and sneakers for the metaverse.