Nike's Web3 Arm Now Owns 10 Ethereum Domain Names Following Purchase Of 'DotSwoosh'

The Web 3.0 arm of Nike, RTFKT, has purchased a new Ethereum Name Service (ENS) called "dotswoosh.eth" for a price of 19.72 Ether (ETH).

Ethereum Name Service (ENS) is a distributed, open and extensible naming system based on the Ethereum blockchain, which basically maps human-readable names like, say, 'alice. eth' to machine-readable identifiers such as Ethereum addresses.

The reason for the purchase of this ENS remains unclear but considering the price of 1 Ether (ETH) at 10:24 pm ET on Sunday, the amount spent on dotswoosh ENS is around $35,496. One of the advantages of owning an ENS domain like dotswoosh.eth is that it allows owners to issue ENS subdomains. So, if Nike were to go down this path, they could allow customers to own subdomains like "alice.dotswoosh.eth" and more.

RTFKT (pronounced "artifact"), a Utah-based NFT company, was acquired by Nike in January for an undisclosed sum and now, the firm owns artifacts.eth, rtfkt.eth, skinvial.eth, drmos.eth, mintvial.eth, dreamos.eth, spacedrip.eth, dripcoin.eth, and m2tekno.eth along with dotswoosh.eth.

Last year, Nike filed seven different applications indicating that it plans to get knee-deep in the metaverse and NFT industry. Nike filed applications for “Nike,” the brand’s slogan “Just Do It,” and its swoosh logo as well, according to a CNBC report.