Fashion giant Nike has announced that it is creating its own space in the metaverse with the launch of a digital commerce platform.

Named after Nike’s iconic logo, the platform will be called the .Swoosh (pronounced ‘dot Swoosh’), where users will be able to “collect, trade and flex” virtual Nike merchandise.

Nike will launch its first collection of products in the .Swoosh in January, Nike Virtual Studios general manager Ron Faris said.

Except unlike a normal retailer, shoppers won’t be able to use these items in real life.

Instead, these items will be completely virtual, similar to NFTs (non-fungible tokens) and various forms of cryptocurrency. Like Nike, fashion brands Gucci, Prada…