Historically, top brands have always been future-oriented and strive to be at the head of the pack with innovation and achievement. Basically, brands like Nike and others have focused solely on selling their physical goods, but that is changing: NFTs are digital assets that are used as collectibles, in virtual games, and for other digital purposes. While some NFT creators have promised to add real value to their collections, this has largely gone unrealized. However, Nike hopes to make a difference by creating the first digital sneaker collection on its .SWOOSH platform.
Key findings:
- .SWOOSH, Nike's web 3 marketplace, was launched in November 2022. The platform supports the sale of Nike virtual clothing and shoes.
- To celebrate the launch of its first virtual collection of OF1 Boxes sneakers, .SWOOSH is sending out posters to eligible users.
What is .SWOOSH?
.SWOOSH - is Web3Nike's marketplace that supports the sale of its virtual apparel and shoes. As a relatively new platform, .SWOOSH is just getting started with a digital footwear collection and plans to expand its capabilities significantly in the future.
Intertwining virtual and physical products, .SWOOSH could be the future of Nike. Its marketplace allows members of the .SWOOSH community to trade and collect the brand's virtual products. In addition, members of the .SWOOSH community can create new collections and receive royalties on sales. Thanks to this, the .SWOOSH community can directly participate in the future of the brand. In addition, .SWOOSH virtual products can provide access to real events, including the ability to pre-order the latest physical footwear.
History of .SWOOSH
The .SWOOSH platform was developed by Nike Virtual Studios and was originally launched in November 2022. Ron Faris, who contributed to the development of the application SNKRS extension, leads this division as vice president/general manager. The purpose of .SWOOSH is to support the creators of web3 Nike. Nike backed the concept of this project after generating $2022 million in sales in August 185 NFT and $90 million in royalties from their first NFTs. While the platform originally had the sole purpose of allowing new community members to sign up with an access code provided by Nike, it is now closer to fulfilling its purpose of being an NFT marketplace.
What is .SWOOSH aimed at?
The .SWOOSH developers want to take Nike into the future with a unique web3 experience. Moreover, they aim to improve the consumer experience by offering access to exclusive physical products and experiences to NFT sneaker box owners. These boxes also support creative innovation by allowing users to create their own collections and receive corresponding royalties.
So far, many non-web3 users have shied away from NFTs, perhaps for fear of being caught cheating, because the process is too complicated, or for other reasons. With .SWOOSH, Nike wants to streamline the process and bring BMT into the mainstream. It prevents related scams by using its own .nike domain and takes some of the confusion out of the equation by transacting in US currency. Also, in the future, sneaker boxes can be used to pre-order new physical sneakers, as well as other real-world benefits.
How does .SWOOSH work?
To take advantage of .SWOOSH, you must become a member of the community. After completing the process of joining the community, you can view virtual goods and make your choice. All purchases can be made with a standard debit or credit card in US currency. As a web3 platform, .SWOOSH transactions are registered on the Ethereum blockchain. Two types of NFT sneaker boxes are available through the first airdropAirdrop is a type of marketing strategy that involves sending multiple tokens or coins to crypto wallet addresses in exchange for completing small tasks, such as posting a message on social media. This is usually done to raise awareness... brand, offering creative options as well as access to exclusive experiences and physical products.
How to join .SWOOSH
.SWOOSH membership is not currently open to the general public. During the closed beta phase, only those who have a special access code can join. However, if you don't have an access code, you can join the .SWOOSH waiting list. On the site SWOOSH.nike just click on the Join link to access your new profile. Once you see the Getting Started page, you can follow the process to join the waiting list. When you are granted membership, you will receive a .SWOOSH ID which will give you access to the "Create" and "Trade" functions.
Nike is gradually rolling out the platform, including access and accessible digital products. As part of this process, the company holds educational sessions in selected cities. Additional educational resources will be posted on the Nike Blog and Instagram Profile.
Roadmap .SWOOSH
The .SWOOSH platform was originally released in beta in November 2022. At the time, Nike Virtual Studios announced that it would be a web3 platform for digital collectibles as well as an educational resource. To add to the utility of these virtual sneaker collectibles, the company also stated that the .SWOOSH collectibles could be used in a variety of immersive experiences and games.
In January 2023, Nike Virtual Studios held a contest for .SWOOSH users. Specifically, .SWOOSH contestants were invited to create a storyboard of their sneaker design on Instagram, and the winner of the competition would receive a $5 prize. The designs of the four members are now featured in the new NFT collection.
The opening of .SWOOSH is proceeding at a slow pace and gradually access to membership will be opened to the general public. At the same time, .SWOOSH will expand its usefulness and appeal. For example, a possible future update could include digital storefronts for individual athletes.
Latest .SWOOSH Airdrop
Following the recent release of the new .SWOOSH platform, Nike has stepped into the metaverse and will soon be releasing a virtual sneaker collection called OF1 (or Our Force 1) inspired by the design Air Force 1.
On April 18, 2023, .SWOOSH will release OF1 posters into the air, celebrating the Air Force 1 marketing campaign decades ago. These posters will also be dedicated to the new digital collection of OF1 sneakers. A total of 106 OF453 posters will be donated to the .SWOOSH community. This means that approximately one in three .SWOOSH users will receive a poster. Those who receive the poster will be able to take advantage of the OF1 Early Access sale on May 1, 8. Access to the entire .SWOOSH community will open on May 2023, 10.
Two types of digital collectibles are available for the new digital sneaker collection: New Wave and Classic Remix sneaker boxes. To commemorate the release date of the Air Force 1, the New Wave and Classic Remix sneaker boxes are priced at $19,82. Notably, each NFT sneaker box will have useful features such as creative expression, access to exclusive physical products, and more.
These exclusive physical products will be paired with special experiences and other benefits to enhance the overall .SWOOSH user experience, according to Nike Virtual Studios. Those who own .SWOOSH digital collectibles will also have the opportunity to earn royalties by creating their own .SWOOSH collections.
Who is eligible to receive the .SWOOSH airdrop?
Members of the .SWOOSH community who have previously partnered with Nike are eligible to receive an OF1 poster from Nike. These include contestants #YourForce1 and session visitors.SWOOSH.
Members who signed up through Nike DEI partner organizations (Diversity, Equity & Inclusion) and SCI (Social Community and Impact) will also receive their own OF1 posters.
The remaining available posters will be distributed over the air to .SWOOSH members in a fair and random process. However, to be eligible to enter the contest, you must be fully connected to the .SWOOSH platform with a .SWOOSH ID as of snapshot taken April 12, 2023 12:00PM PST. Not sure if you qualify? Don't worry - you can check this information on the website Dune Analytics.
As an additional level of verification, .SWOOSH will send a confirmation email to all eligible community members. Just look at the letter [email protected]to confirm your eligibility.
If you didn't get the posters this time around, don't worry: Nike has stashed 82 posters in a Nike-owned wallet and plans to distribute them as gifts and rewards in the future. You can join the waiting list today and still have a chance to win.
Are OF1 Nike .SWOOSH Boxes a Good Investment?
Since this is a new web3 platform, the usefulness of .SWOOSH is still under development. As Nike is still rolling out platform features and member access, many details have yet to be released. However, the platform has huge potential, and Nike's intentional rollout is indicative of the company's commitment to making .SWOOSH a success.
OF1 is the first digital sneaker collection available on .SWOOSH, so in addition to offering exciting utility, there is the potential to increase the value of these NFTs. Considering that only a select group of people will be able to purchase OF1 boxes initially, and that the membership base will grow significantly, the demand for these NFTs is likely to grow as well. Given these key factors, OF1 Boxes can be a great investment.
Final thoughts
Nike has a long history of breaking down barriers and intends to continue on that path with a focus on connecting virtual and physical products and experiences with .SWOOSH. If you are not yet one of the first users of the .SWOOSH domain, you can join the waiting list today.