Nike ‘just did it’ by entering the metaverse and making $185 million
- Nike achieved its success by staying one step ahead of its numerous competitors, including both established such as Adidas and fast-growing newcomers such as On Running.
- As ever, the need: to retain market share in the fiercely competitive sports apparel landscape; grow existing revenue streams; create/discover new revenue streams
- How to stay ahead of the curve and competitors by using emerging metaverse technologies to create new products and experiences while also enabling new direct-to-community/customer (D2C) opportunities
- Adidas, their main competitor entered the metaverse with a partnership with the $3 billion bluechip metaverse brand Bored Ape Yacht Club (BAYC) and their Otherside metaverse.