Nike is looking to further expand the digital side of its business by tapping into emerging technologies such as nonfungible tokens or NFTs. The tokens are essentially digital deeds that verify the authenticity of the items they represent as unique. Nike also wants to sell NFTs of its sneakers, clothing and other goods stamped with its swoosh logo.

Nike has long dominated the scarcity model in the physical world by selling limited quantities of exclusive items and hyping their uniqueness. So Nike sees much white space to conquer in the digital realm as well. The apparel-and-sneaker seller has spent years beefing up its digital business by launching apps which offer users access to exclusive items and events. The digital investments have been a boon for Nike’s sales.

Overall, Nike’s net sales through online channels have outpaced sales through bricks-and-mortar stores for more than a year. Nike may also release real-world exclusives with NFTs and the tokens could be traded via digital marketplaces. Owners of the NFTs can request to have their virtual sneakers made into real ones. A range of fashion and other consumer goods companies are racing to claim footholds in virtual worlds where people are expected to learn, work, shop and be entertained.