The Entry of Sports Brands into the Metaverse

Abstract

This study aims to examine the entry of sports brands into the metaverse universe, one of the innovations brought by the modern world. The qualitative research model was used in the study, which is characterized by the blending and interpretation of photographs, records, and documents from researchers’ surroundings. Furthermore, the document analysis technique was used to collect and analyze the data in detail. Sports brands Nike and Adidas created new platforms in the metaverse universe, filed patent applications on various issues such as buying and selling Non-fungible token (NFT), and established partnerships with various companies. Nike established a metaverse virtual platform called Nikeland, which bears its name. With Nikeland, users create avatars and play games in various sports branches. Nike sells its eponymous clothing NFTs, allowing users to dress their avatars and integrate physical movements made offline into the online platform created in the metaverse universe. At the same time, it is observed that users are enabled to create private spaces with the tasks developed on the Nikeland platform and users are incentivized by rewarding them for the tasks performed. Adidas, on the other hand, placed its NFTs on sale under the name Adidas Originals and it was determined that it allowed users to dress their avatars in the Sandbox metaverse universe and to have discounts on Adidas products offered for sale in the real world. As a result, it is observed that globalized sports brands such as Nike and Adidas have taken steps to use the metaverse technology brought by the modern world. Reaching out to users, increasing competition, and encouraging users to participate in sports are some of the reasons why sports brands entered the metaverse. In addition, brands aim to create a system where both they and the users win by selling NFTs bearing their names to users. Accordingly, it is thought that the activities of big brands such as Nike and Adidas can set an example for other brands.