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.

1 CB Insights

2 Coin Telegraph

About BitGo
BitGo provides the most secure and scalable solutions for the digital asset economy, offering regulated custody, borrowing and lending, and core infrastructure to investors and builders alike.

Founded in 2013 — the early days of crypto — BitGo pioneered the multi-signature wallet and later built TSS to improve upon other companies’ MPC offerings. Between multi-sig and TSS, BitGo offers the safest technology on the market and safeguards over 600 tokens across a wide variety of blockchains.

Over the years, BitGo has expanded from offering wallets into providing a full-suite solution that lets clients hold assets safely and then put them to work.

BitGo launched BitGo Trust Company in 2018, providing fully regulated, qualified cold storage to complement BitGo Inc’s original hot wallet solution. In 2020, BitGo launched BitGo Prime, which allows its clients to trade, borrow, and lend. Moreover, BitGo also provides access to DeFi, staking, NFT wallets, and beyond, and serves as the world’s sole custodian for WBTC, or wrapped Bitcoin.

Today, BitGo is the leader in digital asset security, custody, and liquidity, providing the operational backbone for more than 700 institutional clients in over 50 countries — a list that includes many regulated entities and the world’s top cryptocurrency exchanges and platforms. BitGo also processes approximately 20% of all global Bitcoin transactions by value.

For more information, please visit www.bitgo.com.

©2024 BitGo Inc. (collectively with its affiliates and subsidiaries, “BitGo”). All rights reserved. BitGo Trust Company, Inc., BitGo Inc., and BitGo Prime LLC are separately operated, wholly-owned subsidiaries of BitGo Holdings, Inc., a Delaware corporation headquartered in Palo Alto, CA. No legal, tax, investment, or other advice is provided by any BitGo entity. Please consult your legal/tax/investment professional for questions about your specific circumstances. Digital asset holdings involve a high degree of risk, and can fluctuate greatly on any given day. Accordingly, your digital asset holdings may be subject to large swings in value and may even become worthless. The information provided herein is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. BitGo is not directing this information to any person in any jurisdiction where the publication or availability of the information is prohibited, by reason of that person’s citizenship, residence or otherwise.