The American multinational corporation Nike wants to launch a Web3 platform for selling polygon-based NFT products in 2023. What will this platform include?
Nike partners with blockchain scaling platform Polygon to “.swooshTo get started, the platform aims to position itself as a virtual apparel hotspot, where Nike’s signature apparel is offered in the form of digital assets.
on me Web 3The platform offers a variety of digital clothing items such as T-shirts, sneakers, accessories and other collectibles that can be used to decorate digital avatars. There are also various perks such as virtual events and exclusive products. The company plans to release its first NFT collection in January 2023. Through the platform, customers can become co-creators who share ownership rights to digital products with Nike.
The project is in closed beta. Registrations will soon open to the public, but individuals can be placed on a waiting list by logging into the site with their Nike account. Users will be quickly notified when they are added to the list.
NFTs are digital art or items that represent property, such as digital clothing, avatars, or art. It is not falsifiable, which means it is unique and cannot be exchanged or substituted. Currently, they are mostly treated as digital assets that can be traded between users in an online market.
Nike and NFT Business
NFTs have many uses in today’s Web3 era. They are used in games, collections, and digital art, and they can also represent real world values such as your home. In Nike’s recent partnership with Polygon, the Ethereum-based blockchain will serve as a method for minting Nike NFT clothing.
This is part of Nike’s efforts to integrate its services with web3. So far they are the only ones with the most NFT $100 million in sales she did. With decades of Nike brands, Polygon technology and Web3 know-how, the company wants to secure its share of the Metaverse’s growing business.
The advent of NFTs has caused companies to value their monetary potential. Some companies even use it as part of a crowdfunding strategy to raise capital. However, this isn’t Nike’s first rodeo at web3. Nike acquired NFT sneaker studio RTFKT Studios last year to expand its digital footprint with its blockchain-based brand.
Similar to Nike, Adidas has also ventured into web3 by teaming up with Yoga Labs, developer of the Bored Ape Yacht Club. One particular way companies are looking at Web 3 is how it can serve as an entirely new marketing strategy. Brands see the early Metaverse as a “testing ground” to see if this new venture is profitable. As such, in the near future we will see more companies and brands taking strategic steps to enter web3 in a variety of ways.
Edmund is a writer with a passion for video games, GameFi, and Web3. He has worked for leading GameFi companies and video game/crypto news sites.