Nike to expand into video game wearables, explore NFT fashion – Business News
Nike’s digital wearables arm, the Swoosh, has hinted at a deeper dive into video game fashion. The company has also expressed skepticism over its non-fungible token (NFT) expansion plans, according to a January 12 blog post.
Nike unveils virtual tour
.Nike The sportswear giant’s digital flagship Swoosh recently revealed its efforts and previewed some of its upcoming plans in a recent announcement.
Nike also plans to strengthen its position in the video game sector by launching a new line of virtual products called “Nike In-Game Wearables”.
The team says these wearables can be purchased and worn directly in one’s favorite video games, virtually bringing virtual reality into gaming.
The post highlights that the emphasis is on the joy of collecting and self-expression rather than mere transaction.
Nike intends to deepen its connection with the community by offering exclusive physical products tied to in-game wearables, creating a sense of appreciation for loyal members.
Beyond digital collectibles
An interesting aspect of Nike’s strategy is the recognition that creators should benefit financially. By the second half of the year, Nike aims to allow users to transfer their digital collectibles to personal wallets that will be traded on third-party marketplaces.
The move is in line with the company’s policy of providing art royalties to its creators and promoting collaborative creation.
However, Nike says it will not develop its own market, but instead focus on creating products and stories.
This approach is intended to focus on what matters most to Nike and its community – decisions rooted in dedication to product quality and member satisfaction.
Scammers target OpenSea users with Nike NFT scam
Following Nike’s strategic shift on Web3, scammers joined in to take advantage of the hype surrounding NFTs.
Leading NFT marketplace OpenSea was a target, with scammers sending phishing emails with promises of NFT offers featuring an exclusive partnership between Nike and RTFKT.
One recipient, ApeFathersNFT co-founder Masterju.eth, took to X to alert the public about the fraudulent scheme.
This incident highlights the need for users to exercise caution and verify communications from trusted sources in the rapidly evolving NFT landscape.
Nike Web3-Enabled Platform
.Swoosh, described as a “Web3-enabled platform” on Nike’s official blog, serves as a digital community promoting inclusivity for athletes, digital creators, and collectors.
Established as a place to shape the future of sports, the Swoosh allows members to discover and purchase virtual collectibles, including shoes and jerseys, which will soon be wearable in digital games and immersive experiences.
According to CoinGecko data, the global NFT market cap is over $28.1 billion, with a decline of -3.6% in the last 24 hours and trading volume of over $2.8 billion.
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Source: Crypto.News
Source: biz.crast.net
