Hi, itā€™s Marc.

Yesterday, Nike dropped a bombshell: .SWOOSH, its Web3 platform launched 2 years ago, is changing direction.

  • 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.

This marks the end of an era for brand-led NFT experiments.

Subscribe now Image preview

By the numbers: 389,568 SWOOSH IDs have been minted on Polygon since November 2022.

The .SWOOSH ID Process, Step-by-Step | by dotSWOOSH | Medium

Read our case study and deep dive on Nikeā€™s Web3 activation:

But wait: Nike laid off 1,600 employees (2% of the workforce) in its recent restructuring earlier this year. Including parts of the Nike Virtual Studios team, responsible for .SWOOSH.