Nike to Release its First Collection of Digital Sneakers (NFTs) on its .Swoosh Platform

Nike, a popular sportswear brand, will soon release its first collection of digital (NFT) sneakers called Our Force 1 (OF1) on its newly launched .Swoosh platform. This virtual sneaker is based on Nike’s iconic Air Force 1 design. Starting from April 18, Nike will give early access to select .Swoosh users through “posters” that will allow them to participate in the sale on May 8. Nevertheless, from May 10 onwards, the entire .Swoosh community will be able to purchase the digital sneakers through the platform’s marketplace.

The OF1 collection will consist of two digital boxes, “Classic Remix” and “New Wave,” priced at $19.82 each, paying homage to the year the Air Force 1 sneaker was first introduced. These digital boxes will contain different possible designs, including one that was co-created by four Nike fans in January.

Each NFT will have an associated 3D file that owners may use to demonstrate their artistic abilities. Holdings of the OF1 boxes can be accessed at a later time. In the future, Nike intends to increase the value of these digital assets by giving users access to special tangible goods or experiences.

According to Ron Faris, general manager of Nike Virtual Studios, the company is investigating new methods to tell stories and build relationships while removing limitations and barriers of physical products.

Nike unveiled the beta version of its .Swoosh platform in November. It is a marketplace for buying and selling digital collectibles as well as a resource for Web3 education. Items bought were announced by the firm. Swoosh can be utilized in immersive experiences such as video games.

.Swoosh members will have the ability to create their collections and earn royalties from sales. In January, Nike held a design contest with a $5,000 prize for .Swoosh members to showcase their footwear design ideas on Instagram.

Check out? Nike Launches A New Web3 platform .Swoosh To offer Polygon-based NFT products