Sportwear brand Nike is reportedly planning to sell virtual sneakers, clothing and accessory in the near future. This will be the company’s foray into the up and coming metaverse. As per a report by Business Insider, Nike has filed trademark applications which suggest that the company could soon be selling digital sneakers, clothes and accessories for usage in a virtual world. Input Mag reported that the trademark applications that were filed included those for “Nike", “Just Do It", “Jordan", “Air Jordan", its Swoosh and Jumpman logos as well as a combination of its name and the swoosh. It added that the filing report, which was first seen by trademark attorney Josh Gerben, said that Nike will start an online retail store with virtual sportwear, accessories and art, all of which will be fit for use in online environments and will be non-downloadable.
Business Insider reported that it is not confirmed whether Nike will go through with the launch of the digital products. However, the brand is already looking to hire virtual material designers. As per Insider Mag, one such job listing describes that the person hired will be responsible “in redefining [Nike’s] digital world, ushering [the brand] into the metaverse". CNBC has quoted people familiar with Nike’s strategy as saying that more virtual rollouts may be expected in the coming months.
Brands like Gucci and Balenciaga have already made their foray into the world of NFTs. Nike will also not be the first to sell a virtual sneaker. Virtual sneaker company RTFKT sells limited edition NFTs representing sneakers which can be “worn" in some virtual worlds or on social media via a Snapchat filter. “It really took off when COVID started and loads of people went more online," said Steven Vasilev, RTFKT’s co-founder and CEO. The company has posted $7 million of sales, with limited edition sneakers selling in auctions for $10,000-$60,000, he said. While the majority of customers are in their 20s and 30s, some are as young as 15. RTFKT’s NFTs can also be used as a token to get a free physical version of the shoe, but one in 20 customers do not redeem that token.
Read all the Latest Buzz News here