RTFKT has just bought the domain dotswoosh.eth for 19.72 ETH, approximately $35,000. RTFKT, pronounced “artefact,” is Nike’s web3 branch. It undoubtedly signals a new era for the company, which is primarily known for its sportswear and footwear.
Why did RTFKT buy dotswoosh.eth?
The reason for this remains unclear. However, according to Crypto Twitter detectives, Nike’s RTFKT might have bought the domain to start issuing ENS subdomains in the future. This is because the main domain name holder controls ENS subdomains. It could therefore be part of the company’s larger plan to get fully immersed in the NFT sphere.
Dotswoosh.eth isn’t the only Ethereum domain name that RTFKT/Nike owns. In addition to dotswoosh.eth, it owns artifacts.eth; drmos.eth; mintvial.eth; dreamos.eth; rtfkt.eth; skinvial.eth; spacedrip.eth; dripcoin.eth; as well as m2tekno.eth.
It is important to note that Nike has a solid reputation when it comes to trademarking affiliated names and logos. In 2021, the multinational also filed trademark applications for the brand name, Nikeland, and the Jumpman and swoosh logos for metaverse purposes.
What’s more, it has gone above and beyond to squash anyone trying to sell unofficial web3 assets. A clear example is its lawsuit against StockX, which sold Nike sneaker NFTs without the company’s permission.
Nike and RTFKT
Last December, Nike announced the acquisition of Web3 studio RTFKT. It took until April 2022 for the acquisition to bear fruit via the Nike Dunk Genesis CryptoKicks. These are essentially digital wearables, which can be used in different metaverses.