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Nike-owned RTFKT purchases DotSwoosh ENS for $35k

Updated: Jul 25, 2024
Published: May 30, 2022
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The world's largest athletic apparel company Nike's Web3-devoted arm RTFKT (pronounced "artifact"), purchased Ethereum Name Service (ENS) dotswoosh.eth for 19.72 ETH, worth around $35,000.

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RTFKT purchases dotwoosh.eth

The exact reason behind the purchase of dotswoosh.eth is still unclear. However, according to the gossip on social media platforms, Nike might be gearing up to use the domain for issuing ENS subdomains in the coming days. 

Notably, RTFKT now owns ten ENS following the purchase. Along with dotswoosh.eth, the company also owns rtfkt.eth, artifacts.eth, skinvial.eth, mintvial.eth, drmos.eth, dreamos.eth, dripcoin.eth, spacedrip.eth, and m2tekno.eth.

It seems like Nike's ENS moves are a part of its bigger plan. The CloneX Mint Vial Ethereum NFTs, designed to be burned to create a unique CloneX avatar NFT, are most likely referenced by the Mint Vial (mintvial.eth).

ENS domains are similar to DNS domains and offer a decentralized and secure method to translate human-memorable text into Ethereum addresses. The main domain name holder controls ENS subdomains. For instance, Nike might have plans to provide specific NFT holders the ability to register an ENS subdomain (for example, anisha.dotswoosh.eth).

Nike solidifying its position in NFT and Metaverse world

Despite RTFKT's unclear weekend shopping plan, Nike's strategy to solidify its position in the NFT world is clearly visible. The company has a history of buying and trademarking a wide range of affiliated brands and logos.

Nike marked a solid position in the NFT and metaverse sphere with the acquisition of NFT studio RTFKT in December of last year. It also filed trademarks for Nike, Nikeland, and "Just Do It" in 2021, as well as its Nike swoosh and "Jumpman" logos, for a variety of metaverse applications.

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