Nike’s Web3 Platform Will Reward Creators for Virtual Sneaker Designs

Nike, one of the most successful footwear and lifestyle brands, announced Wednesday that it’s new .SWOOSH non-fungible token (NFT) platform allows users to create custom digital gadgets.

Members of the .SWOOSH group was invited to participate in the #YourForce1 competition, which asks participants to create an Instagram visual storyboard displaying unique footwear designs. The brand will then select four winners, and each winner will be rewarded with $5,000 and the chance to collaborate with Nike designers to build their unique digital footwear.

The four designs could appear in Nike’s upcoming first signature collection, an initiative to be launched soon. The competition began today and ends on January 29.

In a news statement, Nike stated, “At.SWOOSH, we’d like to expand the definition of a creator. That’s why this .SWOOSH Studio contest prioritizes creative storytelling over creative skills.”

Nike has been indulging in creating its Web3 strategy for many years to adopt Web3 technologies smartly. Before its release .SWOOSH purchased the digital fashion house RTFKT in November to begin its journey into the metaverse. Nike announced it would start experimenting with RFID and Blockchain technology in 2020 to track the supply chain.

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