Nike Launches First Swoosh NFT Drop on Web3 Platform
Nike, the leading sportswear brand, is introducing its first-ever NFT drop on the Swoosh Web3 community platform. This comes after the establishment of the Swoosh Web3 platform a few months ago. The new product, named Our Force 1 (OF1), is a range of Polygon virtual sneaker NFTs that pay tribute to the classic Nike Air Force 1 sneaker that was launched 41 years ago. In this article, we’ll dive deeper into Nike’s new product offering, including the features, cost, and release schedule.
OF1 NFTs
The OF1 NFT drop includes two types: Classic Remix and New Wave sneaker boxes. The Classic Remix sneaker boxes feature virtual kicks inspired by Air Force 1 sneakers published between 1982 and 2006. On the other hand, New Wave boxes will include pairs designed in 2007 and beyond. Classic Remix boxes will include an unspecified number of unique, modified AF1s with a “nostalgic twist,” while the New Wave boxes will have personalized, expressive AF1s with a “futuristic twist.” Each virtual shoe box will cost $19.82 USD, in reference to the year the Air Force 1 was first introduced. It’s worth noting that Nike will not accept Bitcoin payments for the NFTs. There doesn’t seem to be a limit on the quantity of Our Force 1 NFTs that will be available. Starting tomorrow, Nike will start airdropping virtual AF1 posters, which are the key to unlocking an OF1 box NFT, to random users. On May 8, Swoosh members will be able to begin minting OF1 boxes. Two days later, on May 10, the entire Swoosh community will be able to acquire OF1 boxes.
Swoosh Community
Nike’s Swoosh platform presently has over 330,000 members, and anyone can join the platform at no cost. However, the specifics of which virtual shoes enthusiastic holders will receive have not yet been disclosed. In February, Nike revealed that four virtual shoe concepts created by Swoosh members would be featured in the OF1 launch. Nike designers have since partnered with those community members to bring the concepts to life on the blockchain. These fan-created designs will also be distributed at random among both types of boxes. Ron Faris, the GM of Nike Virtual Studios, said, “We are exploring new ways to tell stories and create relationships while removing the barriers and limitations of physical product…Swoosh is the marketplace of the future.” According to Nike, the OF1 boxes will unlock more utilities and benefits for customers in the near future, including access to special physical items and experiences.
Nike’s Digital Shoe Market
Nike’s initial foray into the digital shoe market was with the OF1 line. Last year, Nike unveiled CryptoKicks, Ethereum-based digital shoe NFT wearables created in collaboration with RTFKT, the NFT sneaker studio that Nike purchased in late 2021. The initial airdrop of CryptoKicks to holders of other rare RTFKT NFTs saw the shoes fetching prices well over $14,000. Nike appears to be taking a more equitable approach this time around by providing numerous OF1 NFTs at such a low and fixed pricing point. This strategy, along with the project’s focus on community engagement, appears to be aimed at promoting community participation in Swoosh over earning rapid returns in NFT money. Other prominent companies that have been primarily focused on the latter in recent months
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