This week, the US Fed cut interest rates by 0.5%, which is potentially a big catalyst for crypto. We’ll give you the full analysis on Tuesday. Today we will cover:
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As the next bull market emerges, so does a new crypto-rich, Web3-savvy demographic, who are demanding authentic Web3 commerce experiences. Uniquely, with Boson, you can sell physical things as NFTs, with a slick Web2 experience while running on a fully decentralized Web3 backend. No more Web3 washing is required!
Nike's .SWOOSH is shifting focus from NFTs to gaming, partnering with top gaming platforms to offer in-game wearables and exclusive Nike products.
Starting with a TEKKEN 8 tournament, it will now serve as the hub for all Nike gaming experiences and events.
Why it matters: This marks the end of an era for brand-led NFT experiments.
By the numbers: 389,568 SWOOSH IDs have been minted on Polygon since November 2022.
But wait: Nike laid off 1,600 employees (2% of workforce) in its recent restructuring earlier this year. Including parts of the Nike Virtual Studios team, responsible for .SWOOSH.
NFTs in their current form didn’t deliver. Nike’s NFT experiment brought in just $3M. A drop in the bucket compared to their $50B in 2023 revenue.
