Nike has announced a partnership with video game maker EA Sports that will introduce exclusive virtual assets from Nike’s web3 marketplace platform, Swoosh, into upcoming EA Sports titles.
In a statement released on June 1, Nike announced that its “virtual creations,” a term for NFTs, will be incorporated into EA Sports games in the coming months. However, specific game titles that will feature Nike’s virtual goods have not been disclosed yet.
The EA Sports portfolio includes top-rated games such as FIFA, Madden NFL, and NBA Live, attracting millions of worldwide gamers. It is anticipated that Nike NFTs will be customizable wearable add-ons that players can purchase to enhance their in-game character avatars.
Revenue soars as Nike explores the potential of NFTs
Nike introduced its .swoosh NFT platform in November 2022 but only recently launched its first NFT collection in early 2023.
Despite being exclusive to a select audience, the platform released over 92,000 NFTs in its first collection. The initial release, Our Force 1, involved an NFT airdrop followed by the selling of digital shoe boxes that revealed digital sneakers.
According to data from Dune Analytics, Nike’s foray into NFTs has proven highly lucrative, with total revenue exceeding $186 million since December 2021.
Interestingly, Nike has refrained from explicitly referring to its blockchain-based digital collectibles as NFTs. This stance is despite Nike’s acquisition of RTFKT, a prominent NFT studio specializing in virtual sneakers, in December 2021.
The official Swoosh Twitter account has notably avoided using the term NFT and instead refers to product releases as “virtual creations.” However, EA’s interest in NFTs is no surprise, as CEO Andrew Wilson has previously acknowledged their potential in shaping the industry’s future.
Integrating Nike’s NFTs into EA Sports games marks a significant step toward broader adoption of cryptocurrencies and NFTs in the gaming community, creating unique opportunities for players to personalize and enhance their gaming experiences with virtual Nike products.