Non-fungible tokens have proven to be a disruptive technology that is rapidly taking over the tech space. As a result, many traditional companies have seized the opportunity to migrate to Web3 using NFTs to grow their business. Nike is one of his brands making waves in the industry, first through a series of his NFT sales and then launching the .Swoosh platform to support virtual wearables and expand the Web3 audience. bottom.

What is .Swoosh? How to join and what are the benefits of using the platform? Read on to find out!

What is a .Swoosh?

.Swoosh (pronounced dot swoosh) is Nike’s Web3 ecosystem for virtual wearables and NFT collections. The platform is a space where Nike Web3 users and customers can collaborate to create virtual Nike products and earn loyalty.

The platform will launch in November 2022 following the successful NFT campaign by Nike. In August 2022, the company recorded a profit of $185 million from the sale of NFTs and $90 million in royalties. So launching a marketplace was a way to further deepen our foothold in Web3.

.Swoosh users can create, buy, sell and trade NFTs on the platform. Likewise, its users will also enjoy special perks such as access to real-life events and the release of new Nike projects.

Through this platform, Nike will be able to connect physical and virtual products to create unique experiences for customers. Users can order both physical and virtual wearables and apparel on the marketplace. For example, customers can pre-order shoes on the platform and have them shipped to their physical location.

How does .Swoosh work?

.Swoosh works like most NFT platforms, but what sets it apart is its unique utility and perks. To use it, community members will need an access code provided by Nike to sign up, but that could change as soon as it becomes public.

Similar to other marketplaces, users can buy, sell, trade, and exchange NFTs with other users. They can browse virtual products such as Nike’s virtual apparel and her NFT collection created by other users.

At this time, .Swoosh only supports payments in US dollars, so non-American users will need to convert their fiat or cryptocurrency to US dollars in order to use the platform. Additionally, all transactions that occur will be recorded on the Ethereum blockchain and made publicly accessible, and all NFT-related actions will be stored in the BitGo wallet for added security.

At this time, .Swoosh is not available in all countries and access is restricted to certain locations selected by users to participate in beta testing. However, this situation will change once the platform is open to the public in the future.

Everything You Need To Know About Nike's .Swoosh Web3 Platform

How can I join .Swoosh?

As explained earlier, .Swoosh is not publicly available. It was released last year, but is still in beta stage and only accessible to those with a special access code.

To get the code, interested people must first join the .Swoosh waitlist. To do this, visit the .Swoosh website and click the “Join” link to access your new profile. After following these steps, you’ll be taken to the Get Started page, where you can complete the signup process.

Users granted a membership will receive a .SWOOSH ID, which will give them access to the marketplace. Once inside, you’ll be able to collect, exchange, and exchange collectibles. Additionally, to facilitate navigating the Platform, Nike provides educational resources on how to use the Marketplace.

What does Nike intend to achieve with the .Swoosh?

Nike already has a large presence in Web3, and the introduction of a bespoke Web3 environment could help strengthen it even further. .Swoosh is Nike’s way of giving customers a unique Web3 experience by interweaving the physical and the virtual. Likewise, this is how the brand grows its customer base by attracting her Web3 users.

Not only that, but the company is using its experience to migrate traditional customers to Web3. For example, the NFT sneaker box has emerged to enhance the traditional experience. Through Boxes, users can try virtual collectibles, create their own collections, and earn loyalty from sales. As the world slowly embraces the virtual presence, Nike is finally at the forefront of virtual collections.

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*All investment/financial opinions expressed by NFT PLAZA are based on the site moderator’s personal research and experience and are for educational material only. Individuals should thoroughly research any product before making any type of investment.

By Jules

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