Nike-owned RTFKT Studios just added another “.eth” domain name to its growing list of Ethereum Name Service (ENS) NFTs. OpenSea data shows RTFKT spent 19.72 ETH to acquire the “dotswoosh.eth” domain name on May 27th. At the time of sale, RTFKT spent about $35,000 for its latest ENS NFT.
The sale price of “19.72 ETH” is a not-so-subtle reference to the history of Nike’s “swoosh” symbol. Nike first introduced its iconic logo on its sportswear products in 1972. People could now see Nike’s “swoosh” pattern on the “dotswoosh.eth” NFT in RTFKT’s OpenSea account.
Including “dotswoosh.eth,” RTFKT now has ten ENS addresses. All of these NFTs have something to do with Nike or RTFKT’s NFT projects. For instance, “skinvial.eth” refers to “vial NFTs” that alter the appearance of Nike’s CryptoKicks NFT sneakers.
The eight remaining ENS domain names in RTFKT’s portfolio include:
- Artifacts.eth
- RTFKT.eth
- Drmos.eth
- MintVial.eth
- Dreamos.eth
- SpaceDrip.eth
- DripCoin.eth
- M2tekno.eth
There’s a lot of speculation over how these domain names fit into Nike and RTFKT’s Web3 strategy. However, most reporters believe they will use these addresses to generate extra revenue by issuing ENS subdomains.
Nike has been highly protective of its identity on Web3 platforms, and it now carries multiple metaverse-related patents. A few NFT trademarks RTFKT and Nike have successfully filed include the “Just Do It” motto and the term “Nikeland.”
Nike and Clone X Continue to Crush It
Since Nike bought RTFKT Studios in 2021, the two companies have become a dominant force in the NFT space. Indeed, Nike’s CryptoKicks sneakers NFTs remain one of the most talked-about NFT reveals of 2022.
As Rarity Sniper recently reported, anyone who held a MNLTH vault NFT in April could have redeemed Nike Dunk NFTs called “CryptoKicks” plus an EVO X Skin Vial. This skin vial NFT lets users change their CryptoKicks to mimic the traits in RTFKT’s Clone X NFTs.
Speaking of Clone X, many prominent art houses now recognize RTFKT’s signature 20K collection as an elite PFP NFT project. Indeed, the Gagosian Gallery is currently hosting an AR experience with Clone X NFTs. Fashion brand Harvey Nichols also chose Clone X as one of the few collections in its blue-chip NFT store.
Besides CryptoKicks and Clone X, Nike has built a successful metaverse experience called “Nikeland” in the game Roblox. Since “Nikeland” went live in 2021, roughly seven million players have visited this area to participate in contests and search for Easter eggs (a term that indicates secret messages or prizes within a computer program).
Although competitors like Adidas and Puma are getting into NFTs, Nike and RTFKT have a clear lead in Web3.