In an increasingly digital world — one in which Gen Z and Millennials are about as likely to own cryptocurrency as they are stocks — traditional brands are realizing the need to move into the blockchain space in order to keep up with their users.
Top brands — from Nike and Tiffany to Budweiser and Starbucks — are building and launching digital platforms to allow customers to interact with the Web3 (blockchain) space.
Web3 transforms digital ownership. Imagine an internet built, powered, and owned by its users instead of a few major tech companies. In Web2, the user plays the role of the product; in Web3, they take on the role of the owner2. The future of digital ownership is decentralized. Today you don’t own the data on your digital profiles such as your photos on social media or items you purchase in a video game. A centralized company can restrict or ban your ability to access the data, content, or digital items you’ve created or purchased. Web3 solves this problem by giving power back to the user.
The ability to host wallets and safeguard digital assets are the foundations upon which brands enter, scale, and enable adoption for their Web3 products. What makes this a daunting effort for traditional companies is the need to manage user’s private keys to access their assets on the blockchain. Fortunately, there’s a solution: BitGo can provide the wallet infrastructure so your customers can safely manage their digital assets.
BitGo wallet solution is the answer for brands looking to enter the blockchain ecosystem.
With BitGo, companies can build cutting edge products for their customers without needing to figure out the security and technical challenges on their own. Rather, they can depend on BitGo for safe, scalable infrastructure.
Nike x BitGo
Nike has taken the Web3 space by storm again with their .SWOOSH announcement. “.Swoosh is the home for Nike’s virtual creations. . . . Create, collect, trade & flex. Build your collection. Display it, trade it, or flex Nike virtual creations as wearables in games or other immersive experiences.” This allows Nike the flexibility and freedom to focus on their strengths including, creativity, inclusivity, and style, while leaving the technology to BitGo.
Nike first entered the blockchain space in May 2022 with the release of their Cryptokicks digital sneakers. The collaboration with RTFKT was released on both Discord and Twitter where the kicks are frequently used as profile pictures.
“Nike has demonstrated the path for iconic brands to enter the blockchain space’’ said Mike Belshe, founder and CEO of BitGo. “We are thrilled to be the official wallet provider for the .SWOOSH platform. BitGo enables Nike to offer a seamless experience for their customers while providing the necessary guardrails to ensure a secure and enjoyable experience.”
Enabling Adoption
BitGo Wallets allow companies to focus on their strengths while leaving the logistical and security complexities to the experts. Build the product that your customers want, and leverage BitGo’s flexible architecture to design the wallet solution that best fits your needs.BitGo’s Wallet solution enables corporations to navigate regulatory issues, including adherence to the SEC’s Staff Account Bulletin 121 (“SAB 121”) for public companies.If your brand wants to explore and enable blockchain technology for your customers, follow Nike’s path and start chatting with BitGo today.
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BitGo is the digital asset infrastructure company, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have been focused on accelerating the transition of the financial system to a digital asset economy. With a global presence and multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, and millions of retail investors worldwide. For more information, visit www.bitgo.com.
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