Shopping – Many sports companies are investing in new technologies brought by cryptocurrencies. Nike is one of the most concrete proofs of this. In effect, the comma mark had announced in December 2021 the takeover of design studio giant NFT: RTFKT Studio. With the development of NFT Nike sneakers, the two brands continue their epic on the blockchain. Witness this week their buying fever for domain names on the Ethereum blockchain. Explanations.
Funny purchases for RTFKT Studios
Before getting to the heart of the matter, it is important to understand what a domain name on Ethereum. The domain name, Ethereum Name Service in English, symbolized by .eth, (eg journalducoin.eth) allows you to receive ethers and other cryptocurrencies on the Ethereum blockchain.
In a way, it plays the role of the main address. No more long addresses to receive or buy your cryptocurrency ! Make way for Ethereum domain names, real translation of your coded address.
On his side RTFKT, famous designer of NFT, creator of the famous Clone X has become, over the months, a web3 monster. It continues to develop to conquer the ethereum blockchain.
So we learned that the brand RTFKT bought a new domain name “DotSwoosh”. The price of this tenth domain name is symbolic. In effect, “DotSwoosh”, is the common nickname given to the Nike logo. The comma brand graphic designer created the logo in 1971 for $35. Here, the domain name was worth 19.72 ETH or $35,000.
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Why this craze for Ethereum domain names?
So what can be the point of having an ENS? The reasons are not explicitly stated by the two brands. However, as explained by the community on Twitter, Nike may wish to issue subdomains later. Additionally, the sports brand is setting the stage for its blockchain sprint. The other domain names operated by the sports giant testify to this crazy race:
All these ENS refer to the future ecosystem of Nike and of RTFKT. Mint mechanism for skinvial.ethability to forge physical sneakers similar to your NFT basketball for spacedrip.eth for example.
What may seem strange to some is more normal on the side of Nike. Indeed, the same frenzy was noticed when the sports brand uncovered the metaverse. Numerous trademark registrations were then made: Nike, Nike Landor ” Just do it », the slogan of the brand.
The two brands are therefore participating in a craze for Ethereum domain names. In fact, these are more than 300,000 ENS that have been registered since the beginning of May twice as much as in April.
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