In the metaverse, Nike is advancing by leaps and bounds.

Last November, the sportswear firm filed seven patents that revealed plans to make and sell virtual clothing and shoes. Days later, he launched Nikeland, a Roblox universe filled with online games and virtual goods. In December, it bought RTFKT (read “artifact”), a non-fungible token (NFT) studio that produces digital collectibles, including virtual sneakers.

Within five months of its launch, Nikeland amassed seven million visitors. Meanwhile, Nike’s purchase of RTFKT is paying off in the millions of dollars.

But will these digital gains be enough to stem the slide in shares of the sneaker giant when it posts earnings tomorrow (September 29) after the market closes?

Nike stock has been sinking all year

Between December 2021 and February 2022,…