Nike, the global sportswear brand, has announced that it will be launching its first-ever non-fungible token (NFT) sneaker collection on its newly launched .Swoosh platform. The collection, called Our Force 1 (OF1), is a digital interpretation of Nike’s iconic Air Force 1 sneaker design.
— Nike (@Nike) April 4, 2023
Starting on April 18th, Nike will start airdropping “posters” to a select group of .Swoosh users, granting them early access to the OF1 sale on May 8th. On May 10th, the entire .Swoosh community will be able to purchase the digital sneakers via the platform’s marketplace. Each OF1 box contains a choice of two digital boxes – the “Classic Remix” and the “New Wave” box – with each corresponding to different possible designs.
Holders of the OF1 boxes will be able to open them at a later date. According to Nike, each NFT will come with a paired 3D file that holders can use to “express themselves in new ways.” In the future, the company plans to add more extensive utility, including “exclusive physical products or experiences.”
“We are exploring new ways to tell stories and create relationships while removing the barriers and limitations of physical products,” said Ron Faris, general manager of Nike Virtual Studios, in a press release.
Nike initially released a beta version of its .Swoosh platform in November, with the intention of using the platform as a resource for Web3 education and a platform to buy and trade digital collectibles. The platform allows members to create their digital collections and earn royalties from sales.
The release of the OF1 collection is a sign of the growing interest in NFTs in the fashion industry. Digital goods have the potential to transform the industry, providing brands with a new way to connect with their customers and offer immersive, personalized experiences. With more and more consumers seeking unique and exclusive products, NFTs are becoming a valuable way for companies to meet their demands.