We know that blockchain mass adoption has already started when we see some of the biggest brands in the world building on top of this technology. From Wendy’s to Starbucks, giant corporations are constantly exploring ways to implement this limitless technology in their current platforms. Just recently, Nike, one of the biggest fashion brands out there, announced that they are building a digital platform using Polygon. This wave of adoption initially began with the introduction of Ethereum’s smart contracts. Since then, developers started testing this new and upcoming technology by building all kinds of things. For every issue that the Ethereum blockchain had, some developers found a solution.
Before the Merge, Ethereum’s gas fees were going parabolic, reaching prices as high as $1,000 from time to time. This issue gave birth to a Layer-2 solution known as Polygon. Built on top of Ethereum, Polygon allows users to use the powerful blockchain of Ethereum while paying extremely cheap gas fees. With the birth of Polygon, more and more major corporations and brands began building their digital platforms on top of blockchain technology.
Nike Building on Polygon
Nike joined the blockchain wave of adoption last year when it acquired RTFKT – a leader in the NFT space. As time passed by, Nike kept showing interest in the future of footwear, apparel, and accessories. This led to the recent announcement that the brand is building a digital platform for digital creators on the Polygon blockchain. The Nike virtual creations will be available for use in games and VR experiences. Although we are still early when it comes to building efficient and self-sustainable metaverses, we must appreciate what Nike is doing. Some of these creations will also give people real-world benefits, including physical products, passes to exclusive events, etc…
This platform goes by the name of .SWOOSH. According to their website, the first collection is coming soon and will be affordable for everyone. However, you need to claim your .SWOOSH ID before you are able to participate in the platform; don’t worry, claiming the ID is free. After that, you will need a crypto wallet. If you don’t have one, Nike will create one for you.
Nike also explained that the company chose the Polygon blockchain because of the project’s sustainability-minded approach toward the environment. This blockchain made a promise that it will become a carbon-neutral chain by the end of 2022.
Brands & Companies Building on Polygon
Nike is not the first major brand building on top of Polygon. Because the Polygon blockchain is so efficient, more than 10 known international companies are utilizing it. Some of them are:
While it is still early to jump to conclusions, some users believe that the age of Layer-2 solutions is over. This is because Ethereum is now using a type of Proof-of-Stake (PoS) mechanism, lowering gas fees. They believe that, with low gas fees and efficient transaction speed, there is no point in using Layer-2 solutions.