On Jan. 17, Staci Warden, the CEO of the Algorand Basis, tweeted a cryptic message: “NIKE.” A number of took the tweet to consult with sports activities and trend large Nike.

This led to folks speculating about some type of partnership with the attire large, with a number of asking questions on what the tweet may imply.

Sorry guys its not a partnership, as I replied to MJ. Simply was main as much as advertising announcement. One other one deliberate for in the present day. Simply was having enjoyable with it as a result of I am so excited for this rent.

— staci.algo (@StaciW_DC) January 18, 2023

“Nike goes to begin utilizing Algo for sneakers now,” quizzed a consumer. The Algorand CEO responded within the detrimental. He added, “It isn’t a partnership. Only a enjoyable truth on advertising.”

Whereas the questions stored rolling in as to what the tweet meant, the Algorand CEO reiterated in the present day that it was not a partnership with the attire large.

“Sorry guys its not a partnership, as I replied to MJ. Simply was main as much as advertising announcement. One other one deliberate for in the present day. Simply was having enjoyable with it as a result of I am so excited for this rent,” the Algorand CEO wrote.

The hypothesis a couple of partnership was not far-fetched as Nike has been one of many greatest fashion-world gamers in Web3. It has additionally shaped notable partnerships within the crypto house.

In November 2022, Nike launched a brand new Web3 platform known as “Swoosh,” which can supply Polygon-based NFT merchandise. Based mostly on its partnership, Nike’s NFT attire will likely be minted on Polygon, an Ethereum sidechain community.

ALGO, the native token of the Algorand blockchain, was down 2.07% within the final 24 hours at $0.22 at press time and ranks because the thirty fifth largest cryptocurrency. The Algo token, nevertheless, stays up 15% on the weekly timeframe.