Nike is set to launch its first NFT drop on its .Swoosh Web3 community platform, featuring virtual sneaker NFTs paying tribute to the iconic Nike Air Force 1 sneaker that debuted 41 years ago. The collection, called Our Force 1 (OF1), includes Polygon virtual sneaker NFTs with two types available, Classic Remix and New Wave boxes. The former will contain virtual kicks inspired by Air Force 1 shoes released between 1982 and 2006, and the latter will feature pairs designed in 2007 and later.
All virtual sneaker boxes will be priced at $19.82 USD, a nod to the year of the Air Force 1’s debut. Nike is not accepting cryptocurrency as payment for the NFTs, and there appears to be no limit on the number of Our Force 1 NFTs available to mint.
Nike will begin airdropping virtual AF1 posters to randomly selected .Swoosh members tomorrow. These posters are the key needed to unlock an OF1 box NFT, and members will be able to begin minting them on May 8. Two days later, on May 10, the entire .Swoosh community will be able to purchase OF1 boxes.
Ron Faris, 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… With more members choosing to express themselves across physical and digital worlds, .Swoosh is the marketplace of the future.”
The OF1 boxes will also unlock additional utilities and benefits for holders in the future, including access to exclusive physical products and experiences. Nike’s previous digital sneaker business, CryptoKicks, was a collaboration with NFT sneaker studio RTFKT and debuted last spring. The company seems to be taking a more egalitarian approach this time around by offering so many OF1 NFTs at a relatively low and fixed price point.
This move by Nike is a significant development in the metaverse and crypto sector, as it shows that even large corporations are starting to embrace the concept of digital ownership and are using NFTs to engage with their audience. It is also notable that Nike is taking a more community-oriented approach rather than focusing solely on generating quick returns in NFT revenue, which has backfired for some other major brands in recent months.
The impact of this launch on the metaverse and crypto sector remains to be seen, but it is clear that NFTs are here to stay, and major brands like Nike are taking notice. As the concept of digital ownership continues to gain momentum, we can expect to see more companies exploring the possibilities of NFTs and the metaverse.