Nike’s .Swoosh division, known for its blockchain and digital wearables initiatives, is making a groundbreaking move into the video game industry. Decrypt reports that Nike is set to unveil a new line of virtual products, termed Nike In-Game Wearables, distinct from its current digital collectibles. These wearables, unlike traditional NFTs, will be integrated directly into video games, allowing gamers to purchase and adorn them in their virtual avatars without needing crypto wallets. This innovative approach only requires linking game accounts, marking a significant shift in Nike’s digital strategy.
The sportswear giant’s journey in blockchain began years ago with the acquisition of RTFKT and the development of the .Swoosh platform. Nike has since launched numerous digital sneaker NFTs on the Polygon blockchain. While there were speculations about collaborations with giants like EA Sports and Fortnite, it turned out that the Fortnite initiative did not employ blockchain technology. This distinction between digital collectibles (NFTs) and in-game wearables suggests a strategic shift, potentially steering away from direct crypto involvement.
Further, Nike plans to enable NFT owners to transfer their digital collectibles to personal crypto wallets later this year. This move will facilitate trading on marketplaces that provide royalties to creators, including Nike and its associated artists. Interestingly, Nike has indicated no interest in launching its own NFT marketplace, preferring to focus on product creation and storytelling.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.