Nike NFT - Nike trainers

Spotlight On: Nike's First NFT Drop

Nike has been a trendsetter ever since it launched more than 60 years ago, so it’s only natural it wanted to become part of the exciting world of crypto. 

That is why Nike has launched its first non-fungible token (NFT) collection on its own platform .Swoosh.

For those who don’t know, an NFT is a unique digital item, which cannot be copied or replaced. 

When people buy an NFT, the ownership is recorded in the blockchain, allowing them to sell or trade their token. 

Ron Faris, general manager of Nike Virtual Studios, said about the new project: “We are exploring new ways to tell stories and create relationships while removing the barriers and limitations of physical product.”

Nike’s virtual sneak is called Our Force 1 (OF1), which harks back to its infamous Air Force 1 design. 

The NFTs went on sale on May 10th on .Swoosh, with buyers being able to choose from two different designs, the ‘Classic Remix’ and the ‘New Wave’. 

Each NFT will have a 3D file, with Nike planning to add more utility in future weeks. This is thought to include “exclusive physical products or experiences”. 

Buyers will be able to open their box at a later date to uncover the utility. 

Each box was priced at $19.82 (£15.67), which represents the year Nike released its Air Force 1 sneaker. 

Since its launch, more than $1 million worth of NFT virtual sneakers have been sold on .Swoosh. 

This is in spite of technical issues and a challenging market. 

If talk of Nike’s Our Force 1 NFT has reminded you of the classic design that was released in 1982, why not buy rare Air Force 1 ‘07 LV8 worldwide trainers?

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