Nike’s RTFKT Pays $35K For ‘DotSwoosh’ Ethereum Domain Name

• Nike’s ENS investments certainly seem to be part of a bigger plan.
• The primary domain name holder has authority over all ENS subdomains.

Following the acquisition of dotswoosh.eth for 19.72 ETH, or around $35,000, Nike’s Web3 subsidiary, RTFKT, now controls 10 Ethereum Name Service (ENS) domains. “Artifact” is the pronunciation of RTFKT. Nike hasn’t said why it bought the dotswoosh on Friday. 

It has been speculated on Twitter that Nike intends to utilize the domain in the future to issue ENS subdomains. The primary domain name holder has authority over all ENS subdomains. Nike, for example, may permit the registration of an ENS subdomain under dotswoosh.eth by holders of specified NFTs or other assets.

Commemoration of the Year 1972

Carolyn Davidson, the original creator of Nike’s renowned swoosh emblem, was paid just $35 for her services in 1971. To commemorate the year 1972, Nike’s purchase price of 19.72 Ethereum (ETH) may be a tribute to this fact.

RTFKT also owns artifacts, SkinVial.eth, Drmos.eth, MintVial.eth, Dreamos.eth, Spacedrip.eth, Drip Coin.eth, and M2Tekno.eth are some of the other Ethereum addresses in addition to dotswoosh.eth.

Nike’s ENS investments certainly seem to be part of a bigger plan based on its existing holdings. Nike’s Space Drip NFTs are a kind of digital shoe NFT that can be used to “forge” a real pair of shoes for those unfamiliar with the term. For those who want to give Nike’s RTFKT CryptoKick a new appearance, NFT Skin Vials from RTFKT may also be used to do so.

Although its ambitions for dotswoosh.eth are unknown, Nike has a history of purchasing and trademarking various related names and trademarks. Nike, Nikeland, and “Just Do It,” and the Nike swoosh and “Jumpman” insignia were all trademarked last year for various metaverse uses.