In the ever-evolving landscape of top-tier brands, pioneers like Nike have consistently embraced innovation and progress to maintain their leadership. Traditionally, brands like Nike primarily focused on selling physical products, but the tide is changing with the emergence of NFTs (Non-Fungible Tokens). These digital assets have found utility as collectibles, assets in virtual games, and various digital applications. While there has been talk of adding real-world functionality to NFT collections, these promises have largely gone unfulfilled. Nike, however, is set to change this narrative with its inaugural digital sneaker collection on the .SWOOSH platform.

 

Key Takeaways

• In November 2022, Nike introduced .SWOOSH, a revolutionary web3 marketplace designed to facilitate the trade of virtual apparel and footwear bearing the iconic Nike brand.
• As part of its inaugural celebration for the debut of the first-ever virtual sneaker collection, OF1 Boxes, .SWOOSH is conducting an exclusive airdrop of commemorative posters to eligible users.

What Is .SWOOSH?

.SWOOSH, introduced by Nike in November 2022, is a web3 marketplace dedicated to the sale of Nike's virtual apparel and footwear. As a relatively new entrant, .SWOOSH is just beginning its journey into the digital footwear realm and has ambitious plans for further expansion.

 

By bridging the virtual and physical realms, .SWOOSH envisions the future of Nike. The platform enables members of the .SWOOSH community to trade and collect the brand's virtual products. Additionally, .SWOOSH members have the opportunity to create new collections and earn royalties from sales. This utility empowers the .SWOOSH community to actively shape the brand's trajectory. Moreover, .SWOOSH's virtual products may offer access to real-world events, including the potential to pre-order the latest physical shoe styles.

The History of .SWOOSH

Nike Virtual Studios launched the .SWOOSH platform in November 2022, with Ron Faris, a key contributor to the SNKRS app, leading the division as VP/GM. Initially, the platform primarily served as a gateway for new community members with Nike-provided access codes. However, it is now evolving into a fully-fledged NFT marketplace, following Nike's impressive $185 million in NFT sales and $90 million in royalties from its inaugural NFTs in August 2022.

The Objectives of .SWOOSH

Developers of .SWOOSH are on a mission to propel Nike into the future with a distinctive web3 experience. Their broader aim is to enhance the customer journey by offering exclusive physical products and experiences to NFT sneaker box owners. These boxes also foster creativity by enabling users to curate their collections and earn associated royalties.

 

Many individuals who are not active web3 users have hesitated to embrace NFTs due to concerns about complexity and potential scams. .SWOOSH aims to simplify the process and bring NFTs into the mainstream by utilizing its own .nike domain and conducting transactions in U.S. currency. Moreover, the future utility of the sneaker boxes may encompass pre-ordering new-release physical shoes and other real-world benefits.

 

How .SWOOSH Operates

To access .SWOOSH features, you must become a member of the community. Once you complete the membership process, you can explore virtual products and make purchases using standard debit or credit cards in U.S. currency. Transactions on .SWOOSH are recorded on the Ethereum blockchain, highlighting its status as a web3 platform. The brand's first airdrop offers two types of NFT sneaker boxes, each with unique creative possibilities and access to exclusive experiences and physical products.

 

Joining .SWOOSH

Currently, .SWOOSH membership is available through special access codes during its closed beta phase. If you lack an access code, you can join the .SWOOSH waitlist on the SWOOSH.nike website. Once you obtain membership, you'll receive a .SWOOSH ID, granting access to Create and Trade functions. Nike is gradually expanding access and product availability, complemented by educational sessions in select cities and additional resources shared on the brand's blog and Instagram profile.

 

The .SWOOSH Roadmap

Initially launched in beta in November 2022, the .SWOOSH platform was envisioned as a web3 hub for digital collectibles and an educational resource. To augment the utility of these virtual sneaker collectibles, Nike Virtual Studios plans to integrate them into various immersive experiences and games. In January 2023, Nike Virtual Studios organized a challenge for .SWOOSH users, encouraging them to design sneaker storyboards on Instagram. The winning designs from four participants are now featured in the new NFT collection. .SWOOSH will continue to gradually open membership to the public while expanding its utility and appeal, possibly including digital storefronts for individual athletes.

 

The Latest .SWOOSH Airdrop

With the recent debut of the .SWOOSH platform, Nike is set to introduce its virtual sneaker collection, OF1 (Our Force 1), inspired by the iconic Air Force 1 design. On April 18, 2023, .SWOOSH will airdrop OF1 posters, paying homage to the Air Force 1 marketing campaign from decades past and celebrating the launch of the OF1 digital sneaker collection. Approximately 106,453 OF1 posters will be airdropped to .SWOOSH community members, ensuring that roughly one in three users receives a poster. These recipients can take advantage of the early access sale for OF1 on May 8, 2023, while full community access will be granted on May 10, 2023.

 

The OF1 collection offers two types of digital collectibles: New Wave and Classic Remix sneaker boxes, priced at $19.82 to commemorate the Air Force 1's release year. Notably, each sneaker box NFT promises utility, including creative expression, access to exclusive physical products, and more. Owners of .SWOOSH digital collectibles also have the opportunity to earn royalties by crafting their own .SWOOSH collections.

 

Eligibility for the .SWOOSH Airdrop

Members of the .SWOOSH community who have previously collaborated with Nike, participated in the #YourForce1 challenge, or attended .SWOOSH Sessions are eligible to receive an OF1 poster. Additionally, members registered through Nike's DEI (Diversity, Equity & Inclusion) and SCI (Social Community and Impact) partnership organizations will receive their OF1 posters. The remaining posters will be distributed to .SWOOSH members through a fair and randomized process. To qualify, you must have been fully onboarded to the .SWOOSH platform with a .SWOOSH ID as of the April 12, 2023, snapshot at 12:00 PM PST. An airdrop confirmation email from official@swoosh.nike will further verify eligibility.

 

For those who miss the initial airdrop, Nike has reserved 82 posters in a Nike-owned wallet, intended for future giveaways and rewards. Anyone can join the waitlist for a chance to win.

Is Investing in Nike .SWOOSH's OF1 Boxes a Wise Decision?

As a relatively new web3 platform, .SWOOSH's utility is still evolving. Nike continues to roll out platform features and membership access, with specific timelines yet to be announced. Nevertheless, .SWOOSH holds tremendous promise, and Nike's strategic approach underscores its commitment to making .SWOOSH a success.

 

OF1 represents the debut digital sneaker collection on .SWOOSH, offering exciting utility and potential for the NFTs' value to appreciate. Given that initial access to OF1 Boxes is limited to a select group, with the membership base expected to grow significantly, demand for these NFTs is likely to rise. Considering these factors, OF1 Boxes may indeed be a promising investment.

Conclusion

Nike, renowned for pushing boundaries, is set to continue its trailblazing journey with .SWOOSH, combining virtual and physical products and experiences. If you're not yet a part of the .SWOOSH community, you can join the waitlist today to embark on this digital adventure.