Thread by @NFTLoki_

First @RTFKT, then CryptoKicks and now Dot Swoosh.

@Nike has launched Dot swoosh as their game-changer platform to onboard the next web3 users.

They can literally bring mass adoption.

Here’s why:

#nike #rtfkt #dotswoosh

Here's what I'll cover:
- What is Swoosh?
- What does it include?
- Why Nike is doing this?

🟡 What is Swoosh?

Nike has become the leader in fashion NFTs, largely due to the acquisition of RTFKT last year.

But now it is developing a platform to onboard its traditional fans to web3 rather than crypto-literate early adopters.

Swoosh is the home for Nike’s all virtual creations.

This includes sneakers, apparel, accessories & collectables you can wear in games or other immersive experiences.

Some creations will also unlock benefits in the physical world, like access to IRL products & exclusive events.

🟡 What does it include?

In short, Swoosh will be the place for people to:

- Trade phygital (physical + digital) and virtual products
- Unlock access to events
- Co-create products

One of the key components is co-creation.

People will be able to vote for various design elements, sell their own co-created products and even earn royalties on virtual goods.

Those who win community challenges will be given the chance to co-create and earn a royalty for every virtual product they helped co-create.

You’ll also be able to create your own domain under the .nike domain (Ex: NFTLoki.nike) to display or sell your assets.

🟡But why is Nike doing this?

Before that let’s look at the brief history of RTFKT and Nike.

Nike has made almost $185M in revenue on Web3 products, compared to Adidas which earned only $11M and Puma with $1.3M.😲

But RTFKT’s CloneX accounted for more than 50% of revenue, demonstrating the importance of the acquisition to Nike’s Web3 strategy thus far.

RTFKT’s team and strategy has heavily influenced Nike’s web3 strategy.

But Swoosh is a Nike-only project.

With Swoosh, Nike wants to broaden their audience.

They want to go beyond RTFKT’s web3-native customer base and tap into its own, who may be less experienced in the world of web3.

The goal is to educate and onboard the Nike web2 community who believe in Nike’s culture.

Their website also hints at how they'll be collaborating with athletes and sports stars to build communities.

This can be a really big move for the creator economy as well.

Honestly, creator economy and NFTs is a match made in heaven.

But back to Swoosh.

Swoosh is gonna launch their first collection in Jan’23 on Polygon chain.

Before that they are gonna focus on educating their audience.

I’m very excited for this.

Because Nike is known for its marketing.

And if they have really cracked the code of how to educate people about web3 and how to market NFTs, this can bring the next wave of mass adoption.

What’s your take on this? Tell me in the comments

That's a wrap!

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