Sportswear giant Nike has launched .SWOOSH, the new Web3 platform that will be used to launch virtual apparel such as t-shirts and sneakers for avatars.
According to a report by Vogue Business, the project is under the direction of Nike’s virtual studio, which is headed by vice president Ron Faris. “When you think of a virtual product like a virtual shoe, it’s not just a shoe; it’s the product and the experience, service, or utility baked in,” he said.
Nike’s NFT apparel will be minted on Polygon that run alongside the Ethereum blockchain. According to a Fast Company report, Nike plans to sell digital sneakers for less than $50 a pair.