Nike Releases First .Swoosh NFT Digital Sneaker Drop
Months after its debut .Swoosh Web3 community platform, footwear giant Nike launches its first NFT drop there.
The collection, Our Force 1 (OF1), will consist of Polygon virtual sneaker NFTs designed to pay homage to the iconic Nike Air Force 1 sneaker from 41 years ago. Two types will be available as part of the drop: Classic Remix sneakers, which feature virtual kick-riffing on Air Force 1 shoes released between 1982 and 2006, and New Wave boxes, which feature pairs designed in 2007 and later.
Scattered among the Classic Remix boxes will be an undisclosed number of more unique, custom AF1s with a “nostalgic twist.” Likewise mixed in with the New Wave boxes will be custom, expressive AF1s with a more “futuristic twist.”
All virtual sneaker boxes will cost $19.82 USD, a nod to the year of the Air Force 1’s debut. Nike does not accept payments for NFTs in cryptocurrency.
There does not appear to be any set limit to the number of Our Force 1 NFTs that will be available. Tomorrow, Nike will begin sending virtual AF1 posters – the key needed to unlock an OF1 box NFT – to randomly selected .Swoosh members. These members will be able to start minting OF1 boxes on May 8th. Two days later, on May 10th, the entire .Swoosh community will be able to purchase OF1 boxes.
By Nike’s count, there are currently over 330,000 .Swoosh members. Anyone is capable of it join the platform, free of charge.
Details about which exact pairs of virtual shoes avid holders will receive appear to have been kept vague on purpose.
IN February, Nike announced that four virtual shoe designs envisioned by .Swoosh members had been selected to feature in the OF1 release. Since then, Nike designers have been working with these community members to bring the designs to life on the blockchain. These fan-created designs will also be randomly scattered among both types of boxes.
Photos: Nike
“We are exploring new ways to tell stories and create relationships while removing the barriers and limitations of physical products,” said Ron Faris, GM of Nike Virtual Studios, in a statement. “With more members choosing to express themselves across physical and digital worlds, .Swoosh is the marketplace of the future.”
In the near future, per Nike, the OF1 boxes will unlock additional tools and benefits for holders, including access to exclusive physical products and experiences.
The OF1 collection is not Nike’s first foray into the digital sneaker business. Last spring, the company debuted CryptoKicksEthereum-based digital sneaker NFT wearables designed in collaboration with RTFKT, the NFT sneaker studio like Nike acquired at the end of 2021. CryptoKicks pairs, which were originally sent to holders of other rare RTFKT NFTs, quickly started fetching prices well above $14,000 on the secondary markets.
Nike seems to be taking a more egalitarian approach here by offering so many OF1 NFTs at a relatively low and fixed price point. This tactic, along with the project’s community engagement element, appears to be designed to prioritize community participation in .Swoosh, as opposed to generating quick returns in NFT revenue. In recent months, efforts by other major brands that seem to be solely interested in achieving the latter have hit back.
