Nike will promote their products in Web 3.0

Representatives of the company Nike, which specializes in the production of sportswear and shoes, said that they have plans to promote their virtual shoes and other products on the site they created. Now Nike will test this possibility in beta mode, and the release of the collection on their platform will be carried out only next year. The Swoosh service could allow customers to collect virtual items and even give them the ability to create their own virtual items.

This promotion looks modern enough, as Nike claims that their clothes will be wearable in the metaverses and other digital worlds. Thus, we can conclude that Nike contributes to the development of metaverses and cryptogaming. With the transition of the gaming industry to the metaverses, such a move seems logical, and if cryptogaming takes off, then Nike may become one of the first sports brands moving from the real world to the virtual one.

Recall that at the end of last year, Nike became the owner of the NFT-studio RTFKT and since then periodically release collections in digital format. The Cryptokick and CloneX series gained the most popularity. One pair of Cryptokick shoes sold for $134,000, and CloneX makes about 64% of the total revenue. The total earnings of the sports brand through NFT collections exceeded $185,000,000, as reported by representatives of the analytical service Dune Analytics. Slightly more than half of this came from direct sales of NFT items, while the other half went into the Nike Wallet through royalties.

Despite the fact that Nike seems to be doing quite well in the crypto world, the winter in the cryptocurrency market has not bypassed the sports brand either. Their revenue due to the bear market has dropped significantly compared to what Nike showed in April 2022. Then they showed their maximums, which have not yet been beaten. In the future, when the crypto market goes into a bullish phase and digital currencies start to rise in price, the sports brand will return to its previous performance and be able to make a move.