Brand Nike sets foot in the metaverse intending to sell virtual sneakers and clothing

Sportswear brand Nike is reportedly planning to sell virtual sneakers, clothing, and accessories soon. The company is venturing into the up-and-coming metaverse. Bloomberg reports that Nike filed trademark applications indicating the company may soon sell virtual sneakers, clothing, and accessories. Among the trademark applications filed for Nike were those for Just Do It, Jordan, Air Jordan, both the Swoosh and Jumpman logos, as well as a combination of the name. An online retail store will feature virtual clothing, accessories. And art that will be able to be used in online environments and won’t be downloadable.

Brand Nike Insiders confirm its foray into the virtual market

A trademark attorney initially viewed the filing report. It hasn’t been confirmed whether Nike will proceed with the digital product launch, according to Business Insider. Still, the brand is on the lookout for virtual material designers. As reported by Insider Mag, such a job description states that the individual hired will be responsible for “redefining Nike’s digital world, ushering the brand into the metaverse”. Some Nike insiders have told CNBC that more virtual launches may be expected in the coming months.

Major brands opting for virtual reality

Numerous brands have already made their entry into the NFT space, including Balenciaga and Gucci. Moreover, Nike will not be the first company to sell virtual sneakers. The virtual sneaker company RTFKT sells special NFTs resembling sneakers. Which can be used as Snapchat filters in some virtual worlds. RFTKT’s co-founder and CEO Steven Vasilev says that COVID made people go more online when it was launched and a lot more people went online afterward. According to him, the company has posted sales of $ 7 million. That includes limited-edition sneakers renting for $ 10k-$ 60k in auctions. Some of the customers are teens, but most are in their 20s and 30s. As an added benefit, RTFKT’s NFTs can also be redeemed for a free pair of shoes, but one in twenty customers don’t do so.

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