Nike, Inc. will open an online store and trading platform called SWOOSH for virtual sneakers. Nike will release virtual products on the Web3-enabled platform where users can learn, collect and co-create virtual products.

The digital products are often interactive objects, including virtual shoes and jerseys, and will include tie-ins. The virtual products could unlock access to physical products, making them available in video games or providing entry to real-life events. 

The platform’s name domain is welcome.swoosh.Nike. It is currently in beta testing, and registration opens on November 18.

Nike said, “For the rest of this year, Nike will grow the platform by inviting in a community that is as diverse and equitable as possible. That means prioritizing local communities that Nike supports across its diversity, equity and inclusion initiatives, starting with the United States and select countries in Europe, and skill-building with them so that they’re ready to participate.”

Following the first digital collection drop, members can enter a community challenge to co-create virtual products with Nike. Winners could earn a royalty when virtual products they help co-create are sold.

“This approach meets consumers wherever they play and shop sports and offers a gateway into a new digital arena, said Ron Faris, GM, Nike Virtual Studios. “We are shaping a marketplace of the future with an accessible platform for the web3-curious. In this new space, the .SWOOSH community and Nike can create, share and benefit together.”