Nike’s .SWOOSH NFT sneaker collection rakes in over $1M in sales

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Despite delays and technical problems, Nike’s Web3 platform .SWOOSH has generated over $1 million in NFT sneakers sales.

Polygonscan reported more than 66,000 NFTs had been purchased as of Thursday afternoon. Each NFT was priced at $19.82, a symbolic reference to the year of the original Air Force 1 sneaker release.

These figures suggest that Nike has generated approximately $1.3 million in revenue from the ongoing sales, which will end on June 1.

The initial First Access sales phase was limited to select users who received “posters” via airdrop. The General Access sale, intended to sell any remaining NFTs from the inventory of 106,453, began on May 24. Each person is limited to a maximum of four purchases.

After the First Access and General Access sales end, fans can decide whether to open the box or keep it sealed.

When redeeming the OF1 Poster for a box, there is a particular aspect to consider. Each box contains a virtual AF1 representing either timeless heritage or innovative designs. The Classic Remix Box pays tribute to AF1 collections from 1982 to 2006, while the New Wave Box showcases futuristic AF1s inspired by 2007 and beyond.

Users can unlock various options within the New Wave Box, including classic archive styles and cutting-edge AF1s infused with a futuristic flair. Both boxes showcase AF1s co-created by the Force 1 campaign winners, guaranteeing an engaging assortment of choices.

Every virtual AF1 presents distinctive characteristics such as Swooshes, dubraes, animations and colorways. Fans can take the opportunity to curate an exclusive AF1 that matches their style.

.SWOOSH’s not-so-smooth launch

Despite a promising start, Nike reported it had faced technical and traffic-related challenges and multiple delays. As a result, the First Access sale began on May 15, nearly a week later than the initial schedule of May 8.

Then, when the First Access sale began, the website experienced frequent crashes, resulting in an uneven minting experience that persisted for several hours. In response to the issue, Nike extended the First Access sale, delaying the General Access sale.

On May 17, Nike announced that there were still more than 85,000 OF1 boxes remaining. By May 22, the count remained at approximately 83,000.

Starting on May 24, the General Access sale encountered further processing delays, causing frustration among fans as the initial schedule was May 10.

Some users also reported being charged for OF1 NFTs without actually receiving them. In light of these issues, .SWOOSH acknowledged an unforeseen error that tampered with the minting process and prevented additional purchases.

Nike later took to Twitter on May 25 to announce the sale of more than 55,000 OF1 boxes to over 30,000 distinct purchasers, saying the sale was a success.

.SWOOSH’s primary objective is to showcase Nike’s NFTs and virtual apparel initiatives while exploring opportunities for customers to participate as co-creators and enjoy digital product royalties.

Nike aims to leverage the platform as a central space for releasing virtual apparel, such as t-shirts and sneakers designed for avatars to be used within Web3 games and the metaverse.


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