On Jan. 17, Staci Warden, the CEO of the Algorand Foundation, tweeted a cryptic message: "NIKE." Several took the tweet to refer to sports and fashion giant Nike.
This led to people speculating about some sort of partnership with the apparel giant, with several asking questions about what the tweet might mean.
Sorry guys its not a partnership, as I replied to MJ. Just was leading up to marketing announcement. Another one planned for today. Just was having fun with it because I'm so excited for this hire.— staci.algo (@StaciW_DC) January 18, 2023
"Nike is going to start using Algo for shoes now," quizzed a user. The Algorand CEO responded in the negative. He added, "It's not a partnership. Just a fun fact on marketing."
While the questions kept rolling in as to what the tweet meant, the Algorand CEO reiterated today that it was not a partnership with the apparel giant.
"Sorry guys its not a partnership, as I replied to MJ. Just was leading up to marketing announcement. Another one planned for today. Just was having fun with it because I'm so excited for this hire," the Algorand CEO wrote.
The speculation about a partnership was not far-fetched as Nike has been one of the biggest fashion-world players in Web3. It has also formed notable partnerships in the crypto space.
In November 2022, Nike launched a new Web3 platform called "Swoosh," which will offer Polygon-based NFT products. Based on its partnership, Nike's NFT apparel will be minted on Polygon, an Ethereum sidechain network.
ALGO, the native token of the Algorand blockchain, was down 2.07% in the last 24 hours at $0.22 at press time and ranks as the 35th largest cryptocurrency. The Algo token, however, remains up 15% on the weekly timeframe.