Brands Can Go the Nike Way to Utilize Metaverse and NFTs

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Sports manufacturer Nike has always been the flag bearer when it comes to digital transformation. The brand has integrated AI, ecommerce, and in-store experimental technology for many years.

It has recently moved to capitalize on the hype around new concepts, including Metaverse, NFTs, and Web 3.0.

And others brands can also follow some of the ways Nike has been leveraging these technologies to be on the cutting-edge and remain relevant.

Metaverse

Nikeland is a custom-built metaverse area powered by the Roblox platform that allows Nike fans to meet, socialize, participate in promotions, and interact with various brand experiences.

Nike claims that 7 million people have visited Nikeland since it opened in November 2021. They were able to see celebrity appearances from athletes such as LeBron James and purchase exclusive digital merchandise to customize their avatars while they were there.

The goods aren’t only for Nikeworld visitors; they can also be worn by their avatars in other Roblox worlds, turning them into digital brand advocates. They can also put their reflexes and strategy skills to the test with various games, with the chance to win even more products and prizes.

Each visitor to Nikeland is also given their own “yard,” a personal space within Nikeworld where they may display their collections and design to fit their style.

Nike and NFTs

Nike was among the first brands to capitalize on the NFT craze. These are blockchain-based tokens that may be used to generate unique digital assets. Most digital goods, such as a JPG image or an MP3 song, can be replicated indefinitely. However, an NFT is a one-of-a-kind piece of digital data that can be linked to any other digital item, theoretically conferring that item’s uniqueness.

In December of last year, Nike showed its interest in NFTs by purchasing RTFKT Studios, a creator of “next-generation” NFT collectibles. When you consider that the studio sold 600 pairs of NFT sneakers in only six minutes for 3.1 million USD, it is easy to see why it appealed to the sportswear company.

CryotoKicks Dunk Genesis is Nike’s first series of NFT shoes made in collaboration with RTFKT Studios, and once purchased, customers can modify them using “skin vials.” Different designers can construct these vials, adding special effects and patterns to the base sneakers.

It indicates that Nike recognizes the importance of personalization to today’s consumers, especially younger millennials and GenZ, who prefer unique, one-of-a-kind, or personalized items versus mass-produced items.

Nike Leveraging New Technology in its Bricks ‘n’ Mortar Stores

Nike’s most recent forays into digital transformation aren’t limited to the virtual and digital spheres. Its physical, brick-and-mortar stores also provide showcases for the brand’s use of modern technology.

Nike is leveraging technology and sports to encourage users to engage with the brand in its flagship New York store. Visitors can shoot hoops on the in-store basketball court, equipped with cameras and video screens for real-time recording and replaying of highlights. 

Source: Nike News

They can even work up a sweat on a treadmill that resembles outdoor running. Customers can also modify shoes before purchasing them and seek guidance from trainers and coaches who are always available.

Nike expects that technology will help people form strong relationships with the brand by creating unforgettable shopping and leisure experiences. It also means customers will be more inclined to hunt for the swoosh logo the next time they go shopping for sporting items, whether real or virtual.

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Rucha Joshi, currently managing a team of over 20 content writers at TimesNext is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student and a passionate leader.

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