From what I understand, companies that secure domain extensions will have the option to allow people to use their extension for a fee. So, for example, if a company secures the .news domain, they could, if they choose, allow you to pay for something like myblog.news—just like you'd pay for myblog.com. However, I gather there are some caveats/restrictions on what's allowed in this regard. It seems a bit hazy at this stage.
I expect, though, that if Nike secures .nike, it won't be letting us use that extension.