Nike starts trademarking Swoosh Web 3.0

More and more global brands are starting to express their interest in non-fungible tokens. So recently, the well-known sportswear brand Nike created its own platform for buying/selling NFT tokens called Swoosh. However, the site is currently in beta testing, and its full launch is scheduled for 2023.

Despite this, Nike has already begun active preparations for the launch of the Swoosh. Representatives of the sports brand have applied for three trademarks for their new venue. Michael Kondudis, who deals with issues related to trademark registration, spoke about this on his Twitter account:

All submissions in one way or another cover Nike virtual goods: shoes, sports equipment, clothing, virtual collectibles, and even digital content creation software and more.

Nike has personally seen that non-fungible tokens can generate good returns. Since the sportswear brand decided to launch an NFT project, the company has already raised over $185,000,000. And this is all, despite the fact that in the period from 2021 to 2022, the cryptocurrency market as a whole demonstrates a global downward movement, and at the moment there is a situation that is called “crypto winter”.

While Nike is making big profits, the sports brand's non-fungible tokens, along with the overall market, are going down and losing value. The market index fell from $23,986 to $13,105 in a few months, according to Dune.