Faris says that the strategy will be dictated by learning what resonates.Ī key component will be co-creation, including the ability for people to weigh in on design elements and sell their own co-created products, including earning royalties on virtual goods. This might present difficulties to a slow-and-steady pace. With the value of cryptocurrencies in a downturn, the promise of shared revenues might not be as lucrative as they once were. What’s the next generation thinking about in terms of what is avant-garde? How do I want to dress myself or my avatar? How do I still cut through and have a sense of style?”īut, in the Web3 environment, a month can seem like an eternity, and trends change quickly. At the time, Nike chief design officer John Hoke told Vogue Business that, “for us, the metaverse is a wide open sphere to explore. It also teased the Dot Swoosh microsite through an animation of the Nike swoosh. In May, Nike reportedly bought ENS domain “dotswoosh.eth” for 19.72 ETH (approximately $38,000 at the time). The Dot Swoosh project has been underway for some time. ![]() We're going to move into taking our time to educate.” The challenge, he adds, is to navigate how to respect the principles of Web3 without alienating a large audience or becoming inaccessible. “We're not going to sell you anything right away. It will be at least a month until there’s something to buy. These cities are not obvious tech capitals, but rather places that might not always get early access to new innovations, Faris says. To achieve this, Nike Virtual Studios will host events in six cities - Atlanta, Los Angeles, Charlotte, Tallahassee, Louisville and New York - in the coming months, to distribute access codes, with a focus specifically on inclusion.
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