Nike ventures deeper into metaverse with new .Swoosh platform trademarks

By Rony Roy

November 22, 2022 at 11:45 pm

News

Nike has filed for new trademarks following the launch of its .Swoosh Web3 platform last week.

Nike files new trademarks for .Swoosh Web3 platform

Nike has filed for three new trademarks for .Swoosh, a new metaverse platform under Nike Virtual Studios that will house the sportswear company’s virtual apparel, footwear, and accessories.

The applications were filed on November 14, the same day that .Swoosh was unveiled. Three new trademark applications for Nike’s Swoosh logo and the brand names “DOTSWOOSH” and “.SWOOSH” have been filed.

The applications, which have been filed with the United States Patent and Trademark Office (USPTO), cover downloadable virtual goods such as footwear, apparel, sports gear, digital content creation software, digital collectibles and trading cards, virtual and crypto goods marketplaces, custom manufacturing of real-world versions of digital footwear, clothing, jewelry, and gear, web forums, entertainment services, and more.

Nike NFT prices keep going down

In August, crypto.news reported that Nike’s NFT-related projects have generated over $185 million in revenue since their launch, despite the crypto winter and waning interest, during which the NFT trading volume for the second quarter decreased by 40%.

Despite this revenue, Nike NFT prices have continued to decline, with the market index standing at $15,817 as of November 22 compared to $23,986 on August 22, according to data from Dune.

In addition to Nike, the latest Dune data reveals that Dolce & Gabbana, Tiffany, Gucci, Adidas, Time Magazine, Budweiser, and Lacoste are among the top brands in terms of revenue from NFTs, based on their performance on the Ethereum (ETH) blockchain.

Nike will launch its first digital collection for .Swoosh in 2023, shaped by the platform’s community. Users will be able to purchase digital products minted on Polygon with a credit or debit card beginning in the new year. Fast Company reports that Nike intends to sell digital sneakers for less than $50 per pair.