Investments in Crypto Assets and NFTs: Nike’s Foray into the Digital Shoe Market
Amidst the perception of a slowdown in the crypto assets and NFT markets, Nike’s entry into the world of digital shoes proves otherwise. The sportswear giant is set to unveil its new virtual shoe called Our Force 1 as an NFT on its NFT content platform called Swoosh.
A Digital Shoe for Shoe Collectors
Nike’s Our Force 1, akin to the first Air Force, is a remarkable creation intended for shoe collectors. Conceived as an NFT, it is not meant to be worn, but as a digital asset to own. The virtual shoe is an exclusive model for those fortunate enough to receive invitations on May 8, two days before sales open to the general public.
A Compelling Business Model
Apart from the OF1, Nike’s Swoosh platform will offer two boxes for sale: Classic Remix and New Wave. Each box contains different random models, one co-created by Nike and four fans, and costs around 20 dollars, much like the first Air Force sneakers. Nike’s unique business model, allowing fans to co-create a product, will likely appeal to sneakerheads and crypto enthusiasts alike.
A New Avenue for Crypto Assets
Nike’s entry into the NFT market in the form of a virtual sneaker is compelling, as the company has no direct involvement in the world of technology. With its own NFT content platform, Nike aims to capture the imaginations of both sneakerheads and crypto enthusiasts. It remains to be seen how successful Nike’s Swoosh platform will be, but it is clear that virtual shoes and NFTs are likely to be part of the future of commerce.