Nike Launches its First Digital Sneaker Collection on .Swoosh

Global sportswear giant Nike is set to release its first non-fungible token (NFT) sneaker collection on its recently launched .Swoosh platform. The virtual sneaker, dubbed Our Force 1 (OF1), is a tribute to Nike's iconic Air Force 1 design, which was first released in 1982.

Starting from April 18, Nike will be airdropping "posters" to select.Swoosh users, allowing them early access to purchase the NFTs on May 8. On May 10, the .Swoosh community will be able to buy the digital goods through its marketplace. The OF1 collection consists of two types of digital boxes, the "Classic Remix" and "New Wave," priced at $19.82 each, a nod to the year of the Air Force 1's debut.

The Classic Remix box contains virtual kicks that pay homage to Air Force 1 shoes released between 1982 and 2006, while the New Wave box features pairs designed in 2007 and beyond. Each box type also includes custom, fan-co-created designs that have been brought to life on the blockchain by Nike designers.

Nike has deliberately kept the details of the exact pairs of virtual shoes vague, with some designs featuring a nostalgic twist and others a futuristic twist. Holders of the OF1 boxes will be able to open them at a later date, and Nike says that each NFT will come with a 3D file that holders can use to "express themselves in new ways."

The OF1 collection is not Nike's first foray into the digital sneaker business. Last year, the company introduced CryptoKicks, Ethereum-based digital sneaker NFT wearables designed in collaboration with RTFKT, the NFT sneaker studio that Nike acquired in late 2021. The CryptoKicks, which were originally airdropped to holders of other rare RTFKT NFTs, quickly began fetching prices well over $14,000 on secondary markets.

However, the OF1 collection is unique and will be available to everyone on the.Swoosh platform, with no set limit on the number of NFTs that can be minted. .Holders will also be allowed to create their own collections and earn royalties from sales.

"We are exploring new ways to tell stories and create relationships while removing the barriers and limitations of physical product," said Ron Faris, General Manager of Nike Virtual Studios, in a press release. "With more members choosing to express themselves across physical and digital worlds, .Swoosh is the marketplace of the future."

Nike first released a beta version of its .Swoosh platform in November 2022, teasing that the platform would be used as a resource for Web3 education and as a platform to buy and trade digital collectibles. The company added that items purchased on .Swoosh can be worn in video games and other immersive experiences.

With over 330,000 .Swoosh members to date, Nike appears to be taking a more egalitarian approach by offering a large number of OF1 NFTs at a relatively low and fixed price point. The project's emphasis on community involvement and co-creation also appears to be designed to prioritize community building over profit, setting it apart from many other high-profile NFT projects.

The OF1 collection has already generated considerable excitement among sneaker and NFT enthusiasts alike, and many are eagerly anticipating the May 10 release date. With Nike's reputation for innovation and forward-thinking, it's clear that the .Swoosh