Nike Building Web3 Platform

Nike Building Web3 Platform
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RTFKT owner Nike released details about its own web3 platform which will feature claimable subdomains and "virtual creations," according to a release on its website.

Details were scant on the website, but a Medium article from Nike said the creations will be "interactive digital objects."

"Think virtual shoes or jerseys," the article said.

Nike will also collaborate with "select creators who win our community challenges" and those creators will be eligible to earn royalties for their creations through the platform.

"In some instances, community members will be able to unlock access to physical product or events like intimate conversations with athletes or designers," said Nike in a release on its website.  

The platform is in beta and registration will open later this month. The first collection will go live in January, according to Complex, which interviewed Ron Faris, general manager of Nike Virtual Studios.

Users will also be able to register their own subdomain on the website Friday, according to the Complex article.

RTFKT, which was acquired by Nike in December of 2021, tweeted about the new platform saying that Clone X holders will get access to .swoosh IDs. RTFKT also said that initial Nike releases will be wearables for Clone X NFTs.

The team behind the project will be guests of a live Rug Radio event today at 2 p..m. ET.

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