Last week, the Nike .SWOOSH platform released its first non-fungible token (NFT) sneaker collection, which surpassed $1 million in sales in no time.
Footwear and apparel giant Nike (NYSE: NKE) has been quite early into the game of non-fungible tokens (NFTs) and has been already working on its NFT platform .SWOOSH.
In the latest development, Nike announced that it will integrate its .SWOOSH platform, which is still in the beta stage, with the EA Sports gaming ecosystem. This is a major milestone for Nike as the move would expand the utility of the .SWOOSH NFTs to one of the biggest online sports gaming platforms. EA Sports is quite popular behind publishing some of the biggest games such as FIFA, Madden NFL and more.
The announcement from Nike notes that the collaboration will allow fans “to express their personal style through play”. Both .SWOOSH members and EA Sports fans will be able to enjoy “immersive experiences” and “new levels of customization within the EA Sports ecosystem.”
Speaking on the development, Ron Faris, GM of Nike Virtual Studios said:
“Nike and EA SPORTS share a commitment to innovation, creativity, and excellence, and we are thrilled to partner with them. This partnership will allow us to unlock some incredible new experiences for our .SWOOSH community and the massive EA SPORTS fan base.”
Nike’s NFT Platform .SWOOSH
Last year in November 2022, Nike announced the launch of its Web3-enabled NFT platform .SWOOSH that caters to the future of sports “by creating a new, inclusive digital community and experience and a home for Nike virtual creations.”
To establish a secure and reliable platform, .SWOOSH has created its own domain: welcome.swoosh.nike. This dedicated domain will serve as a hub for Nike Members, offering them the opportunity to discover and acquire virtual creations.
These interactive digital objects, including virtual shoes and jerseys, can be utilized by community members in various digital games and immersive experiences. Additionally, through this platform, community members may have the chance to unlock access to physical products or exclusive events, such as intimate conversations with athletes or designers.
Last week, the Nike .SWOOSH platform released its first non-fungible token (NFT) sneaker collection, which surpassed $1 million in sales in no time. The sale of these “virtual creations” started last month on May 15. However, in the beginning, the platform faced some earlier technical issues and continuous delays. Andrea Hopelain, SVP of Brand for EA SPORTS & Racing said:
“All of us at EA SPORTS are focused on leading the next evolution in sports fandom, and this new collaboration with our longtime partners at Nike sits directly at the intersection of innovation, sport, and culture. Working with .SWOOSH, we’ll bring creativity and self-expression to the forefront for fans as they connect, compete and share their love for sport.”
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
