Nike, an athletic footwear and apparel company renowned in the non-fungible token market for its sneaker collectibles, has not yet abandoned the burgeoning non-fungible token market. This revelation appears just a few days after it announced shutting down its RTFKT NFT studio, the move that was interpreted by many users as its plans to exit the NFT market. In this article, we shall look in-depth on how Nike is redefining digital fashion, gaming, and web3 adoption.
1) Nike's @dotSWOOSH and Polygon: Redefining Digital Fashion, Gaming, and Web3 Adoption@Nike, a trailblazer in the fashion and Web3 industries, has strategically built its digital ecosystem on @0xPolygon — through the innovative .SWOOSH platform. This move highlights Nike's… pic.twitter.com/36fa1HaE8d
— KingDankKush (@KingDankKush) December 9, 2024
Nike Hasn’t Exited The NFT Space
Earlier this month, the athletic footwear and apparel company confirmed plans to shut down its digital asset incubation studio RTFKT by January 2025. Through RTFKT, Nike has launched several non-fungible token series, including Clone X, a non-fungible token collection featuring a limited set of 20,000 NFTs hosted on the Ethereum blockchain network. Nike acquired RTFKT to fuse fashion, technology, and gaming.
pic.twitter.com/ySShPa0I7r
— RTFKT (@RTFKT) December 2, 2024
Nike, through its RTFKT NFT studio, aimed at bridge the gap between physical and digital fashion. Rather than producing physical products, Nike leveraged RTFKT capability to create digital fashion items primarily intended for video games and virtual environments. Before closing its NFT studio, Nike launched BLADE x MNLT NFT collection to serve as a testament to its commitment to boundaries and emerging worlds.
Unlike other platforms, such as Kraken, Nike appears to have not completely done away with the non-fungible token integration. Earlier this month, Kraken, one of the leading crypto exchange platforms, confirmed plans to shut down its NFT marketplace. Kraken launched its NFT market platform in December 2023, but suffered massive drawbacks attributed by the recent prolonged NFT market downturn.
Nike Is Redefining Digital Fashion And Gaming
Nike, a trailblazer in the fashion and Web3 industries, is now pushing its NFT course through its innovative Polygon-powered .SWOOSH platform after shutting down its RTFKT studio. This move highlights its continued dominance in the global NFT space and underscores the growing importance of Polygon in bridging mainstream brands with Web3 adoption. Nike’s dot Swoosh serves as a hub for digital creations like NFT sneakers and apparel.
To revitalize gaming, Nike is pushing the boundaries of Web3 integration by bringing its iconic digital sneakers into the Fortnite and EA SPORTS games like the EA Madden NFL and EA SPORTS FC (formerly #FIFA). Nike’s partnership with such notable gaming brands promises to revolutionize in-game customization. By integrating NFTs into Fortnite and EA Sports games, Nike introduces Web3 to hundreds of millions of users worldwide.
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