Nike Launched NFT “OF1” Collection

Nike launched its long-awaited collection of digital sneakers in the form of NFT. It comes after considerable delays and some problems.

Nike, the renowned sportswear and accessories company, has launched its long-awaited NFT collection after several delays. This is the first collection of non-fungible tokens, which bears the name of One Force 1. It should be noted that these virtual sneakers were offered on its Web3 platform, .Swoosh.

The release of this first collection in .Swoosh was not without its problems. Notably, the launch was considerably delayed, and it sustained acute technical problems. Despite the latter, the sales can be considered successful, as they reached the approximate figure of $1 million dollars, according to the company.

These collectibles were expected to hit the market on May 15. However, the issues became unresolvable by that date, leading to it taking longer than expected. But this was not the first delay, given that May 8 was the scheduled date before that second postponement.

The Nike NFT Sales Process

This NFT collection launched by the company was considered a resounding success by Nike despite long delays. This speaks to the interest in the brand and also the strong sentiment of customers for Blockchain technology. Non-fungible tokens have become a fundamental part of today’s collectibles.

In the first round of sales of these collectibles, called First Access, the sale was exclusive access. This focused on select users who received airdropped banners that served as access tickets.

According to the company, a total of 106,453 of these posters were distributed among the first members of the Web3 platform community. For its part, the sale of General Access began on May 24, that is, two weeks after the initially proposed date. In the second stage, users will be able to choose the remaining collectibles.

In this way, and despite the problems, Nike successfully launched its first NFT collection in .Swoosh. It is worth mentioning that this collection consists of tokens created in Polygon. They are also a tribute to the legendary Air Force 1 sneakers that turn 41 this year.

Some Characteristics of the Collection

This Nike NFT collection, as already said, is a tribute to the Air Force 1. In that sense, the pieces are divided into two categories: The Classic Remix and OF1 shoe box. Another aspect to consider is the price of the shoes, which was $19.82 per pair.

The price is not casual, but it becomes a tribute to the year in which the sneakers were first launched. The magnitude of the sales of the first stage can be verified in the Polygonscan, where there are some 66,000 pairs of shoes sold until last Thursday afternoon.

With this, the company’s strategy is to take advantage of this technology for the collectible arts’ first stage. Likewise, it is expected that it will crown in the long term, taking into account the low adoption of NFT today. In the same way as collections in the real world, NFTs tend to appreciate over time, thanks to their scarcity and rarity in the market.

Either way, with this NFT collection and its Web3 platform, Nike seems already on the technology bandwagon.

By Audy Castaneda