Nike is moving further into the metaverse with the branding of the .Swoosh platform

As the cryptocurrency and blockchain technology sector continues to expand and advance, one of their segments is gaining the public’s special attention — non-fungible tokens (NFTs) and metaverses, whose opportunities are being recognized by global brands, such as Nike (NYSE: NKE).

On November 14, Nike filed three trademark applications for its .SWOOSH Web3 platform that launched the same day, including the name and logo “dotSwoosh,” licensed trademark attorney Michael Kondoudis disclosed in a statement. tweet On November 21st.

The applications, filed with the USPTO, cover downloadable virtual goods, including shoes, apparel, athletic equipment, digital content creation software, virtual collectibles, trading cards, marketplaces for virtual goods, and cryptography and custom manufacturing for real goods. – Worldwide versions of digital shoes, clothing, jewelry, gear, online forums, entertainment services and more.

Compare Nike NFT revenue to market index price

In August, Coinphony reported a Nike-related NFT project that has brought the company over $185 million in revenue since its launch, despite a crypto winter and declining interest, with Q2 NFT trading volume down 40%.

It should also be noted that despite these gains, Nike NFT prices continued to decline, with a market benchmark of $13,105 on November 21 compared to $23,986 on August 22, according to Dune data.

Nike NFT Market Index. source: Dune

With Nike leading the way, other top brands by revenue from NFTs include Dolce & Gabbana, Tiffany, Gucci, Adidas, Time Magazine, Budweiser, and Lacoste, based on their performance on the Ethereum (ETH) blockchain, the latest Dune Data appears.

Meanwhile, between January 1 and September 30, the number of NFT and blockchain-related brands in the United States exceeded 6,000, three times more than in all of 2021. By comparison, only three trademark applications were filed in 2020.

The post appeared after Nike Sprints to the Metaverse with Swoosh platform branding and debuted on Coinphony.

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