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Nike dives into video game wearables, explores NFT fashion

Nike’s digital wearables division, Swoosh, has suggested an interest in further exploring the realm of video game-inspired fashion. In a blog post dated January 12, the company also mentioned some reservations regarding its expansion into the non-fungible token (NFT) space.

Nike unveils virtual journey

Swoosh, Nike’s digital flagship, has recently made an announcement detailing its current initiatives and offering a glimpse into its forthcoming plans.

Nike is gearing up to solidify its presence in the video game arena with the introduction of a novel range of virtual items dubbed “Nike In-Game Wearables.” These virtual wearables can be purchased and adorned within players’ favorite video games, adding an authentic touch to the gaming experience.

The primary focus, as emphasized in the post, lies in the enjoyment of collecting and expressing oneself rather than mere financial transactions. Nike’s aim is to enhance its connection with the gaming community by providing exclusive physical merchandise linked to these in-game wearables, fostering a sense of appreciation among its loyal members.

Additionally, Nike’s NFT sneaker collection is set to make its debut within EA Sports’ games, creating further excitement in the gaming and fashion crossover.

Beyond digital collectibles

One intriguing facet of Nike’s strategy involves acknowledging the importance of creators benefiting financially. In the latter half of the year, Nike aims to enable users to transfer their digital collectibles to personal wallets, facilitating trading on third-party marketplaces.

This strategic move aligns with Nike’s commitment to granting royalties to its artistic collaborators and fostering a culture of collaborative creation. However, it’s worth noting that Nike does not intend to build its own marketplace. Instead, the company will concentrate its efforts on crafting compelling products and narratives.

This approach reflects Nike’s dedication to prioritizing product excellence and ensuring member satisfaction, recognizing that these aspects are of utmost importance to both the company and its community.

Scammers target OpenSea users with Nike NFT scam

As Nike embarks on its strategic transition into the Web3 space, opportunistic scammers have seized the moment to exploit the heightened enthusiasm surrounding NFTs.

A notable target in this wave of scams has been the leading NFT marketplace, OpenSea. Scammers have been deploying phishing emails, enticing recipients with promises of an exclusive collaboration between Nike and RTFKT, along with the offer of an NFT opportunity.

One recipient, MasterJew.eth, who also serves as a co-founder of ApeFathersNFT, took to social media to raise awareness about this fraudulent scheme.

This incident serves as a stark reminder of the importance for users to exercise vigilance and verify communications originating from trusted sources within the rapidly evolving NFT landscape. It underscores the necessity of cautious engagement to protect oneself from potential scams and fraudulent activities.

Nike web3-enabled platform

.Swoosh, as described on Nike’s official blog, functions as a “web3-enabled platform” that serves as a digital community with a strong emphasis on inclusivity. It welcomes athletes, digital creators, and collectors alike.

Positioned as a hub to influence the future of sports, .Swoosh offers its members the opportunity to explore and purchase virtual collectibles, including items such as shoes and jerseys. These collectibles are slated to become wearable in digital games and immersive experiences.

CoinGecko data reveals that the global NFT market boasts a cap exceeding $28.1 billion, albeit with a recent -3.6% decline, and boasts a substantial trading volume of over $2.8 billion in the past 24 hours.

For more insights into the NFT market, you can read further in the article titled “NFT market analysis: 2023 highlights and 2024 forecast.”

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