In a rather pro-Web3 move, Nike has struck a partnership with EA Sports hoping to be able to push elements of Web3 like cryptocurrencies and NFTs, deeper into the international gaming ecosystem. The shoes and athleisure brand Nike has been experimenting with digital collectibles or NFTs for quite some time now. As for EA Sports, the US-based game publisher behind world-famous titles like FIFA and F1 among others, and has a player-base of over 150 million as per Statista.
As part of this deal, Nike’s Web3 platform called ‘.Swoosh’ will provide its users access to exclusive NFT collections inspired by EA Sports games, which boast a massive community of fans across the globe.
“Nike Virtual Studios and EA SPORTS are today announcing a new partnership aimed at enhancing and personalising the virtual sports experience for fans all over the world. In future EA Sports titles, EA Sports and Nike plan to make select .Swoosh virtual creations available allowing members and players unique new opportunities for self-expression and creativity through sport and style,” an official blog by Nike said.
The companies announced the development officially on Twitter on June 1.
Nike is expected to make its EA Sports-focussed NFTs, customisable. These NFTs would include wearable merchandises inspired by teams within the games. Players will be able to purchase these Nike NFTs to tweak their virtual avatars.
The option to engage with NFTs, most of which are bought with cryptocurrencies, will now reach millions of players who are part of the EA Sports community, which could significantly boost Web3 adoption.
Other prominent players from the gaming sector are also looking at Web3 to refresh the existing video game ecosystem.
Previously, Sony has also filed for patents pertaining to the integration of digital assets and NFTs to its offerings and services.
Over 55 percent of the global gaming community resides in Asia. The continent contributes over $72 billion (roughly Rs. 5,88,229 crore) in annual gaming revenue.
A Chainalysis report also recently highlighted that in the second quarter of 2022, 58 percent of web traffic from Asian nations to crypto services was NFT-related. Another 21 percent traffic was related to play-to-earn blockchain games.
Hence in recent times, the blockchain gaming market in Japan has specifically garnered major interest of the gaming industry.