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Nike and ea sports will work together using NFT

Nike and ea sports will work together using NFT

Sportswear giant Nike announced a collaboration with video game maker EA Sports. This collaboration is in the form of a digital collection of Nike branded equipment which is planned through the Swoosh platform and will later be integrated into EA games.

While there has been no mention of the word NFT so far, Nike’s go-to platform is Swoosh which is Nike’s Web3 platform that was announced last year and is currently in closed beta. In the announcement, Nike explained that at some point in the “future”, games such as FIFA and Madden will feature integration with Swoosh, which Nike describes as a new digital community experience.

Swoosh is built on Polygon, the Ethereum scaling network, and currently only offers a collection of NFTs in the form of digital sneakers and membership cards.

According to the Swoosh website, Nike refers to tokens as virtual Nike creations, which include digital sneakers, apparel, accessories and other collectibles that you can wear in-game or redeem for access to exclusive products, events and more.

Nike Virtual Studios GM Ron Faris said in a statement Nike and EA Sports share a commitment to innovation, creativity and excellence and the two are thrilled to be partnering.

“This partnership will allow us to unlock some great new experiences for our Swoosh community and large EA Sports fan base,” said Faris, quoted from Decrypt.

Nike has seen great financial success from its NFT releases so far, accruing more than USD 186 million or IDR 2.7 trillion (assuming exchange rate IDR 14,891 per US dollar) in total revenue since December 2021 according to data from Dune Analytics.

Most of that revenue comes from RTFKT, the Web3 startup he acquired that created the NFT CloneX with artist Takashi Murakami, as well as NFT-based Nike CryptoKicks and exclusive physical sneakers that can only be purchased through redeemable NFTs.

NBA legend LeBron James was recently seen wearing a pair of these shoes before a playoff game.

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