Nike’s RTFWT buys Ethereum domain name ‘DotSwoosh’ for $35,000

RTFKT, Nike Web3 arm, now has 10 Ethereum name service (ENS) following the purchase of dotswoosh.eth for 19.72 ETH, or approximately $35,000. RTFKT is pronounced “artifact”.

The exact reason for Nike’s purchase of dotswoosh on Friday remains unclear. But as some have pointed out on Twitter, Nike may intend to use the domain to issue ENS Subdomains in the future. ENS Subdomains are controlled by the primary registrant of the domain name.

For example, Nike could allow cardholders to NFT or other assets the ability to register an ENS subdomain under dotswoosh.eth (kate.dotswoosh.eth would be an example).

Graphic designer Carolyn Davidson created the iconic Nike logo in 1971 and was reportedly paid just $35 for her work. Thus, Nike’s 19.72 ETH purchase price may be a nod to the year 1972 when Davidson’s swoosh logo first appeared on the shoes.

RTFKT now owns 10 ENS domain names. Image: OpenSea.

In addition to dotswoosh.eth, RTFKT also has artifacts.eth, rtfkt.eth, skinvial.eth, drmos.eth, mintvial.eth, dreamos.eth, spacedrip.eth, dripcoin.eth, and m2tekno.eth.

Nike’s ENS games appear to be part of a larger strategy based on its current holdings. The Mint bottle is probably a reference to the CloneX Mint bottle Ethereum NFTs, which can be burned to create a unique CloneX avatar NFT.

Space Drip is a reference to Nike Spatial Drip NFT, which are digital shoe NFTs that allow the holder to “forge” a physical version of the sneakers. RTFK skin flasks are also NFTs that can be engraved to change the look of Nike’s RTFKT CryptoKickslaunched last month.

Whatever its plans for dotswoosh.eth, Nike has a track record to purchase and register a wide range of affiliate names and logos. Last year he filed trademarks for Nike, Nikeland and “Just Do It” for a wide range of metaverse apps, as well as its Nike swoosh and “Jumpman” logos.

Nike has also made efforts to overwrite all unofficially licensed Web3 assets, sue StockX for selling unauthorized Nike sneaker images as NFTs.

Want to be a crypto expert? Get the best of Decrypt straight to your inbox.

Get the biggest crypto news + weekly digests and more!