Do you think NFTs are over? Nike doesn’t. The sports brand launched its new digital collectibles with the .Swoosh late last year and finally reveals its hand with the new Our Force 1 virtual sneakers. They don’t exist physically, but are becoming a collector’s item, just like the classic Nike Air Force 1 shoes. Just don’t call them NFTs. Confused?
Celebrating 50 years of Nike design, this digital collection goes back to the company’s beginnings and the 1970s Nike Manifesto, which was a blast to read. The Nike Air Force 1 Low has become one of the most iconic sneaker designs in history, and the new all-digital Our Force 1 champions that legacy for a new generation that only wants to wear them online in virtual spaces.
Like many other NFT releases, the launch of Our Force 1 is all about bragging rights and fundraising opportunities. Fans on Twitter are anxiously awaiting the drop, and Nike estimated there were around 330,000 signups. The launch comes in two parts, the Classic Remix sneaker boxes featuring sneakers based on designs from 1982 to 2006, and the New Wave boxes that ape designs after 2007.
The Our Force 1 digital sneaker will be available on the Swoosh at a price of $19.82, a reference to the real Air Force 1’s original launch in 1982. Interestingly, Nike does not accept cryptocurrency as payment for its .Swoosh digital collectibles, signaling a breaking non-fungible tokens off the cryptocurrency roller coaster. (This is something NFT collectors have argued must happen ever since the NFT crash.)
Nike also doesn’t call these NFTs, and the digital sneakers will go into a wallet secured to Nike’s platform, so you can’t trade them anywhere else. Twitter user _BlackWing88 picked up on this, writing: “Nike chose their words carefully not to mention NFT or Web3. But this collection is obviously an NFT and for the Web3 community. Still, your virtual followers appreciate your presence and effort in this virtual space.”
The term NFT is clearly a dirty word, so this is a new low for marketing or a clever way to sell tokenized assets. This approach of offering a fixed price disconnected from crypto speculation points to Nike wanting to develop a positive community over driving profit, as it did with the previous CryptoKicks NFT collection. Created by RTFKT, this linked NFT sneakers to real-life limited editions that rose in value to around $14,000.
In February, Nike announced that four Our Force 1 designs created by their community would be included in the NFT release. Nike designers worked closely with these fans to bring them to virtual life.
Ron Faris, GM of Nike Virtual Studios, said in a press release: “We’re exploring new ways to tell stories and create relationships while removing the barriers and limitations of physical products. With more members choosing to express themselves across physical and digital worlds, .Swoosh is the marketplace of the future.”
Nike might not label Our Force 1 as NFTs, or mention metaverse and Web3, but with plans to create digital events, virtual design collaborations, and an online platform to wear your new sneakers, it sure sounds like Web3 skins for me. If this works, expect more brands to launch “non-NFT” collections.
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