Web3 Expansion: Nike Set to Launch Its First NFT Digital Sneaker Collection
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Global sportswear production company, Nike, is set to release its first digital non-fungible token (NFT) sneaker collection on its Web3-powered Swoosh platform.
Nike & Swoosh: The New Metaverse Paradigm
Nike is set to take further steps into the metaverse universe with the release of its NFT digital sneaker connection on its Web3-based Swoosh platform, created to be a go-to hub for its brand digital wearables.
Old sole, new story.
The #OurForce1 collection features digital renditions of AF1s past, present and future built for the next generation.
Nike’s first-ever virtual collection is inspired by the AF1 Low, a classic style remixed hundreds of times since it dropped in ‘82. pic.twitter.com/dlq65VNeAb
— .SWOOSH (@dotSWOOSH) April 17, 2023
The virtual sneaker collection will be called “Our Force 1 (OF1)” and feature a design concept geared towards the iconic Air Force 1 franchise from forty-one years ago.
Nike explained its plans to airdrop “posters” to choose users registered on Swoosh as they will be eligible for “early access” to the sale of OF1 on May 8th.
On May 10th, vibrant members of the Swoosh community will be able to purchase the digital NFT sneaker through its in-built marketplace.
It is worth noting that Nike members are required to choose from two types of virtual sneaker boxes; the Classic Remix and New Wave Box.
The Classic Remix sneaker boxes will entail some riffing on Air Force 1 (AF1), released between 1982 and 2006, and the New Wave boxes, which are geared towards the design concept of 2007 and later.
The Classic Remix and New Wave boxes will feature an undisclosed amount of unique and customized AF1 that embeds a “nostalgic twist” and “futuristic twist,” respectively.
The NFT sneaker collection boxes will cost $19.82, a creative tribute to when the popular franchise Air Force 1 sneaker debuted.
Although its new production features a digital concept, Nike will not accept crypto payments.
Holders of the OF1 boxes can access and open their collection at a date yet to be released.
Each NFT box will feature a paired 3D file holders can use to interact and express themselves in the immersive metaverse.
Nike claims to broaden its horizon by integrating utility and exclusive physical products and experiences in its stellar lists of products yet to be released.
Ron Faris, the general manager of Nike Virtual Studios, expressed his positive thought toward the launch of Our Force 1.
He further stressed that the athletic brand is now committed to exploring new ways to tell stories and create symbiotic relationships to eliminate barriers and limitations in physical products.
The Swoosh Platform: A Bullish Foresight on Nike’s Commitment to Web3
Nike released a beta version of the Swoosh platform in November 2022, a Web3-powered platform allowing the brand’s fans to become community members and create, buy, and trade owned digital collectibles.
As detailed in its press release announcement, the platform will be geared towards building a vibrant community around its digital wearables.
The sports brand added that items purchased on Swoosh would be incorporated into video games and other digital-based immersive experiences.
Apart from minting and trading NFTs, community members will be able to earn royalties from sales.
Ron Faris iterated that Swoosh will be a seamless global marketplace for Web3 enthusiasts, enabling participants to create, share, and benefit.
Before the creation of Swoosh and the soon-launch of Our Force 1 NFT sneaker collection, Nike had planned to create a permeate of Web3 strategy.
It started with creating a patent for a digital sneaker called “CryptoKicks” in December 2019 and launching a metaverse sneaker collection called RTFKT x Nike Dunk Genesis CryptoKicks.
Web3 and NFT enthusiasts believe the creation of Swoosh and OF1 represents Nike’s keen commitment to exploring Web3.
With several untapped potentials from the virtual space, Nike asserts to be one of the early backers to leverage its growth and offer users a myriad of digital products embedded with an immersive experience.
