Nike jumps further into Web3 with new ‘Style’ store

Nike just opened a new category of its shop dubbed the Nike ‘Style’ store in the Hongdae area of Seoul, which comes with features straight out of the Metaverse. 

The Nike ‘Style’ store showcases seasonal product and locally curated collections of gender-agnostic clothing tailor-made for a variety of body types. The store also blends digital and physical retail spaces, a connection the sports giant calls digital-physical with two components. 

The first is QR Codes that direct users to augmented reality experiences in the Style store. Users can explore product innovations and art installations. 

The second is a content studio that will let its community develop their own videos and photos for their social media channels with customisable backdrops. 

In addition, there will be a Nike By You zone, which offers users an opportunity to customise, develop and upcycle existing items into one-of-a-kind pieces. 

Nike plans on launching its next ‘Style’ store in Shanghai, China in the fall of 2022 with additional regional and international sites to follow.

Nike has been very active in the Web3 space since acquiring RTFKT Studios, a developer of ‘next-generation’ NFT collectibles, for an undisclosed amount since December 2021.

Back in April this year, it created an ad for the Nike Dunk NFTs. These ‘CryptoKicks’ are compatible with unique skins called ‘EVO X Skin Vials’. The Skin Vials are dynamic, which allow NFT holders to breed and upgrade their skin vials to unlock exclusive sneaker designs and powers in the RTFKT space. Through the initiative, Nike is able to appeal its brand to Gen Z and the younger millennials who prefer one-of-a-kind or customised items over mass-produced products. 

In May 2022, the brand has purchased ‘Dotswoosh.eth’ , a domain name for 19.72 ETH (roughly US$ 35,000). The price is correlated with the year 1972, when Nike debuted ‘swoosh’ as its brand symbol. 

Photo: Nike