Nike (NKE) says it is opening an online store and trading platform for virtual sneakers as the athletic apparel maker pushes into the metaverse.
The world’s biggest sportswear company says it will release its own goods on the “.Swoosh” platform, and users will be able to collect and show off their digital items on it.
The digital products will include different tie-ins, and some may unlock access to physical products or provide entry to real-life events.
Registration for consumers to join the Swoosh online store opens on November 18 this year.
Nike is focused on introducing and explaining its new virtual products to consumers and is embarking on a six-city U.S. tour to educate shoppers on web3 and blockchain technologies.
Nike has been investing in the metaverse over the past year and now has a devoted design team for its digital products.
Last year, the Beaverton, Oregon-based company began filing trademarks for virtual goods, opened a virtual world on Roblox, and acquired virtual sneaker creator RTFKT.
Nike says it has earned nearly $200 million U.S. to date from non-fungible tokens (NFTs) and other digital products.
Nike’s stock is down 37% this year and trading at $104.39 U.S. per share.
