In response to the launching of its .Swoosh Web3 network last week, Nike applied for new trademarks.
Nike registers new trademarks for the.Swoosh Web3 platform
The sportswear brand has applied for three new trademarks of .Swoosh, the latest metaverse platform run by Nike Virtual Studios will host the virtual clothing, footwear, and accessories produced by the company.
On 14th November, the exact day that.Swoosh was announced, and the applications were submitted. Three additional trademark applications have been submitted for the “DOTSWOOSH” and “.SWOOSH” brand names as well as the Swoosh logo of Nike.
The applications, which have been submitted to the United States Patent and Trademark Office (USPTO), cover a variety of topics, including downloadable virtual goods like clothing, jewelry, and sports equipment as well as software for creating digital content, digital collectibles and trading cards, virtual and cryptocurrency goods online marketplace, custom production of real-world replicas of digital attire, jewelry, and other items, web forums, entertainment options, and so more.
Nike NFT costs continue to decline
Considering the crypto winter & fading engagement, within which the second quarter’s NFT trading volume fell by 40%, crypto.news claimed in August that Nike’s NFT-related ventures had produced about $185 million in income since their start.
Dune data shows that despite this income, Nike NFT prices have been falling, with the market index being $15,817 as of 22nd November as opposed to $23,986 on August 22.
Based on their success on the Ethereum (ETH) blockchain, the most recent Dune data reveals that Lacoste, Gucci, Time Magazine, Taffany, Adidas, Budweiser, and Dolce & Gabbana make up the top brands in terms of income from NFTs, alongside Nike.
In 2023, Nike will release its first digital line for.Swoosh, is influenced by the platform’s user base. Commencing in the new year, users will have the option to pay for digital goods made on Polygon with one debit or credit card. Nike plans to sell their digital sneakers for much less than $50 per pair, according to Fast Company.
Ken Emmanuel is a Blockchain Content writer, a Web3 Enthusiast and a Social Media Management Strategist, he likes writing educative contents to help people gain more knowledge and get inspired. The growth of any organization he work with is always his priority. He is a Geographer by profession and loves reading.