After the acquisition of dotswoosh.eth, RTFKT, Nike’s HTML3 arm, now has 10 Ethereum No Service domains (ENS). This is approximately $35,000. RTFKT can be pronounced as “artifact”.
The exact reason why Nike bought the dotswoosh on Friday is still unknown. However, some Twitter users have suggested that Nike might be planning to use the domain to issue ENS subdomains later on. Subdomains of the main domain name holder are under their control.
Nike might allow holders of NFTs and other assets to register an ENS domain under dotswoosh.eth. (Kate.dotswoosh.eth is one example).
Carolyn Davidson, a graphic designer who created Nike’s iconic swoosh logo in 1971, was reportedly paid only $35. Nike’s purchase price of 19.72 ETH may refer to 1972, when Davidson’s swoosh design first appeared on shoes.
RTFKT owns dotswoosh.eth and artifacts.eth.
The ENS plays of Nike do seem to be part of a larger strategy based upon its current holdings. The Mint Vial refers to CloneX Mint Vial Ethereum NFTs that can be burned to create unique CloneX avatar NFTs.
Space Drip refers to Nike’s Space Drip NFTs which allow the holder of the NFT to “forge” an actual physical version of the sneakers. RTFKT’s skin Vials can also be used to modify the appearance of Nike’s RTFKT CryptoKicks. They were launched last month.
No matter what its plans for dotswoosh.eth are, Nike has a track-record of trademarking and buying a wide variety of associated names and logos. It filed trademarks last year for Nike, Nikeland and “Just Do It” to protect a wide range of metaverse apps, as well its Nike swoosh logos and “Jumpman”.
Nike also tried to eliminate any Web3 assets that were not officially licensed, suing stockX for selling unlicensed Nike sneaker images as NFTs.
