No need to sell shoes. Nike has become the most profitable brand of NFT

Published on 1 Weeks ago   99 views   0 Comments  

Source:appsolution

Author: Leng Sizhen

Image source:Boundless Layout AI Toolgenerate

After watching too much Li Guoqing snatch the official seal, the manager of Halo Bike broke 70 Meituan Bikes and refused to admit it. After Soul's operating partner posted such outrageous news as pornographic content on the competitive platform Uki, people would have some doubts about the word "commercial war".

There is no court of justice, no equity calculation, and some are simple and crude collisions. They are simple but effective.

While a crowd of gourd eaters were worried about the "new era business war" of commercial companies, Nike stood out. It secretly pushed back the idea of future competitors to do NFT through "building a plank", and firmly held Nike's NFT sales right in its own hands. At the same time, I tell you that commercial war can also be decent.


Nike sued the second-hand platform for NFT


Nike's trademark lawsuit against the secondary market platform StockX seems to be another case of excessive protection of intellectual property rights by brands. After all, Nike will take the art group that modifies its own brand shoes to court. Now it has filed a trademark lawsuit against StockX, which may be overreacting to the outside world.

However, Nike's reaction this time was very normal. After all, StockX wanted to move a piece of cake in their future - NFT.

StockX recently announced a plan to convert the shoes you bought on the platform into NFT. It's just that this resale platform with an estimated value of 3.8 billion dollars has not actually carried out NFT cooperation with any footwear brand, and it is entirely in its own making.

In the process of StockX transforming shoes into NFT works, the use of Nike shoes design and trademarks undoubtedly infringed the brand trademark rights.

In order to win this lawsuit, Nike even continued to "increase the price". On the basis of the original trademark lawsuit, it continued to accuse StockX of selling counterfeit shoes. For a certification resale platform like StockX, such accusations are really "hurt".

StockX's NFT

At this time, StockX is basically in the place of defeat. First, Nike, on the other side of the court, has a strong team of lawyers. Over the years, the brand's success in intellectual property has given Nike confidence to win the lawsuit. On the other hand, once Nike's accusation against the platform expands, whether StockX has sold counterfeit shoes or not, it is reminding users that the shoes you buy on this platform are probably fake.

A professor from Concord Law School in New Hampshire explained the embarrassing situation of StockX in an article. Even if they can win the lawsuit of Nike's trademark right, as long as Nike has proved that the platform sells counterfeit shoes, their NFT products are also counterfeit to some extent. After all, they are not created by shoe brands, but a large-scale "copycat" behavior of a large-scale resale platform.

Of course, it may not be so important for Nike whether StockX sells counterfeit shoes. After all, the secondary market is also an important part of the sneaker market. But if StockX sells NFT, it will really affect the future development direction of Nike.

In December 2021, Nike acquired RTFKT, a technology brand covering games, NFT and blockchain. One of the two most outstanding things about this platform is that it was bought by Nike, and the other is that the shoes inspired by Tesla Cyber Truck were "worn" by Musk, who also sold the shoes for nearly 90000 dollars.

At that time, Nike CEO said that the acquisition was to accelerate Nike's digital transformation and expand Nike's digital footprint.

But Nike has a lot of layout on NFT, and everything has long been traceable.

Before the acquisition, Nike had already filed an application in the United States Patent and Trademark Office to guarantee its intellectual property rights; In addition, the brand and video game Roblox jointly created Nikeland; In April this year, 20000 pairs of Cryptokicks virtual sneakers were sold; In June, RTFKT bought the "dotswoosh. eth" Ethereum domain name.

As can be seen from everything, virtual clothing or NFT is a visible future growth point for Nike.

Therefore, Nike also officially announced that it will launch the blockchain virtual platform ". SWOOSH".


Zuckerberg lost ten billion, but Nike made money


Swoosh is a trademark of Nike, which is the ticked pattern.

As one of the most famous trademarks in the world, Nike bought it for only 35 dollars. Now, you can spend $35 or more to buy Nike's virtual products on. SWOOSH.

This is a new service platform that has not been fully opened. You can regard it as a grey beta version. After the opening of registration on November 18, it was only the first to open the user experience in Europe and the United States; More rules and content of the community will not be released until December, and the first series will not be released until next year.

This long testing process is also the process for Nike to build its own digital world bit by bit. Even before. SWOOSH really starts selling things, Nike will share in six cities to tell users what the platform is used for and how it can be used.

Nike said that it hopes to help its users "learn, collect and jointly create virtual products" through the new platform of. SWOOSH, and have the opportunity to wear these virtual products in specific games or experience activities. Even NFT purchased in games on other platforms will have an opportunity to appear in. SWOOSH.

Of course, making money is also very important, which Nike has not avoided.

Although Meta founded by Zuckerberg has a net loss of 10 billion yuan due to its investment in Metauniverse and NFT, Nike has made money from NFT.

According to data from Dune Analytics, Nike earned at least $185 million from Web3 products last year, including $93 million from sales and $92 million from royalties. Compared with Adidas' $11 million and Puma's $1.3 million, Nike has already won win thoroughly. It is also the brand with the most profit from NFT sales.

Image from: Dune Analytics

But that's not Nike's goal.

As the largest sports brand in the world, Nike is not only investing in the meta universe and NFT, but also wants to be a sharer and leader of these new technologies, introducing to more people what these profound terms are and what they are used for.

We won't sell you anything right away. We will take time to challenge how to explore the principles of Web3 without leaving the masses.

The. SWOOSH page quotes what Phil Knight said

As a new platform of Nike SWOOSH is not even related to the original RTFKT. At most, RTFKT users can find the registration page of. SWOOSH more quickly.

The reason why Nike does not use its well developed platform is that its target audience is not the existing users of RTFKT, but those who do not have cryptocurrency wallets and lack understanding of these new technologies.

Ron Faris, head of Nike Virtual Studio, said: "Our target audience is not only Web3 native users, but also those more curious about Web3. They are afraid to buy NFT products because it is too difficult to understand and buy. We want to find a Web3 shopping method suitable for more people."

Apple likes it after listening.

In the latest online App Store review guide, Apple also stipulated that it is not allowed to use mechanisms such as cryptocurrency and cryptocurrency wallet to unlock content or functions. Although many people roast that this is the insistence of "Apple Tax", buying NFT content with legal tender that everyone can accept can really lower the purchase threshold.

. SWOOSH also plans to do this. All products sold on the platform will be settled in dollars that are easier for users to understand, rather than cryptocurrencies that you can't figure out.


Nike's NFT is different under the connection line


In addition to the breakthrough in the settlement method and the wider target users, Nike's new platform. SWOOSH has many differences.

Everything about Web3 is untouchable, but Nike wants you to touch it. This is just like the story that the domestic social networking platform is always telling for the advertisement - although I am an online service, I can create connections for you offline as well.

In other words, what users buy online can also be used offline, which has practical value for both brands and consumers.

We will position our product on its utility to you, rather than a speculative asset.

. SWOOSH can be a creative platform.

When users are used to buying virtual goods here,. SWOOSH is very attractive to creators. The creators here no longer refer to star players or artists in the sports circle, but also can be ordinary people who love to create. They can use this platform to create and express ideas.

Nike drew a huge "pie" for users. They said that next year. SWOOSH may launch a challenge. Users of the platform can participate in the design of Nike NFT together with Nike professional designers. Users with excellent performance can also get NFT sales share.

It can also be an actual product or service.

The NFT shoes you buy online can be a vote coupon for future shoe color matching, or a qualification coupon for priority purchase of limited number of sneakers. Nike believes that NFT clothing can not only appear in video games and the meta universe, but also be useful offline.

In Nike's imagination, the end of NFT purchase may be the beginning of another service consumption.

Only on the. SWOOSH platform, Nike will still have the final right to explain all sales activities and trademark use of the platform, which is not consistent with the spirit of Web3 decentralization. Nike is still the center of all online activities, and everything is still brand oriented.

It seems that Nike is doing NFT, but everything it does doesn't belong to Web3.


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