.SWOOSH: All About Nike's Web3 Marketplace & Latest Airdrop

Top-rated brands have historically embraced the future and moved to be at the head of the pack with innovations and advancements. Largely, brands like Nike and others have focused exclusively on selling their physical products, but this is changing: NFTs are digital assets that have been used as collectibles, in virtual games and for other digital purposes. While there has been a promise from some NFT creators to add real-life utility to their collections, this has largely been unrealized. However, Nike hopes to change this with its first digital sneaker collection on its .SWOOSH platform.

Key Takeaways:

• .SWOOSH, Nike’s web3 marketplace, launched in November 2022. The platform supports the sale of Nike’s virtual apparel and footwear.
• .SWOOSH is airdropping posters to eligible users to commemorate the launch of its first virtual sneaker collection, OF1 Boxes.

What Is .SWOOSH?

By interweaving virtual and physical products together, .SWOOSH may be Nike’s future. Its marketplace allows .SWOOSH community members to trade and collect the brand’s virtual products. In addition, .SWOOSH members can create new collections and earn royalties on sales. Via this utility, the .SWOOSH community can directly participate in the brand’s future. In addition, .SWOOSH virtual products may grant access to real-life events, including the possibility of pre-ordering the latest styles of physical shoes.

History of .SWOOSH

The .SWOOSH platform was developed by Nike Virtual Studios and was originally launched in November 2022. Ron Faris, who contributed to the development of the SNKRS app, heads the division as VP/GM. The purpose of .SWOOSH is to support Nike’s web3 creators. Nike got behind the concept for this project after making $185 million in NFT sales and $90 million in royalties from its first NFTs in August 2022. While the platform initially had the exclusive utility of allowing new community members with a Nike-provided access code to sign up, it’s now closer to fulfilling its intended purpose of being an NFT marketplace.

What Does .SWOOSH Aim to Achieve?

The .SWOOSH developers want to bring Nike into the future with a unique web3 experience. More than that, they aim to enhance the customer experience by offering access to exclusive physical products and experiences to owners of NFT sneaker boxes. These boxes also support creative innovation by allowing users to create their own collections and earn related royalties. 

Thus far, many people who aren’t active web3 users have shied away from NFTs, possibly from fear of being caught in a scam because the process is too complicated or for other reasons. With .SWOOSH, Nike wants to simplify the process and bring NFTs into the mainstream. It prevents related scams through the use of its own .nike domain and takes some of the confusion out of the equation by completing transactions in U.S. currency. In addition, the future utility of the sneaker boxes could support pre-ordering new-release physical shoes, as well as providing other real-life benefits.

How Does .SWOOSH Work?

In order to use the .SWOOSH features, you must be a member of the community. After completing the membership process, you can browse through the virtual products and make your selections. All purchases can be completed with a standard debit or credit card in U.S. currency. As a web3 platform, .SWOOSH transactions are logged on the Ethereum blockchain. Two types of NFT sneaker boxes are available through the brand’s first airdrop, offering creative possibilities as well as access to exclusive experiences and physical products.

How to Join .SWOOSH

.SWOOSH membership isn’t currently open to the general public. During this closed beta phase, only those who have a special access code can join. However, if you don't have an access code, you can join the .SWOOSH waitlist. On the SWOOSH.nike website, you simply click on the Join link to access your new profile. Once you see the Get Started page, you can follow the process to join the waitlist. When you’re granted membership, you’ll receive a .SWOOSH ID, which gives you access to Create and Trade functions.

Nike is slowly rolling out the platform, including both access and available digital products. As part of its ramp-up process, it’s hosting educational sessions in select cities. Additional educational resources will be publicized on Nike’s blog and its Instagram profile.

.SWOOSH Road Map

The .SWOOSH platform was initially released in its beta version in November 2022. At that time, Nike Virtual Studios announced that it would be a web3 platform for digital collectibles as well as an educational resource. To add utility to these virtual sneaker collectibles, the company has also stated that the .SWOOSH collectibles will be usable in various immersive experiences and games. 

In January 2023, Nike Virtual Studios hosted a challenge for .SWOOSH users. Specifically, .SWOOSH members were asked to create an Instagram storyboard of their sneaker designs, and the winner of the contest would receive a $5,000 prize. The designs of four participants are now featured in the new NFT collection.

.SWOOSH is being carefully unveiled at a slow pace, and access to membership will gradually be opened to the general public. Concurrently, .SWOOSH will expand its utility and appeal. For example, a possible update down the line could include digital storefronts for individual athletes.

Latest .SWOOSH Airdrop

With the recent release of the new .SWOOSH platform, Nike’s foray into the metaverse will soon be followed by the launch of its virtual sneaker collection, known as OF1 (or Our Force 1), inspired by the Air Force 1 design. 

On Apr 18, 2023, .SWOOSH will airdrop OF1 posters that pay homage to the Air Force 1 marketing campaign from several decades ago. These posters will also commemorate the new OF1 digital sneaker collection. A total of 106,453 OF1 posters will be airdropped to the .SWOOSH community. This means that approximately one out of every three .SWOOSH users will receive a poster. Those who receive one can take advantage of OF1’s early access sale on May 8, 2023. Access for the full .SWOOSH community will be available on May 10, 2023. 

There are two types of digital collectibles available for the new digital sneaker collection: the New Wave and Classic Remix sneaker boxes. In honor of the release date for the Air Force 1 sneakers, the price of the New Wave and Classic Remix sneaker boxes is $19.82. Notably, each sneaker box NFT will have utility, such as for creative expression, access to exclusive physical products and more. 

According to Nike Virtual Studios, these exclusive physical products will combine with special experiences and other benefits to expand the overall experience of .SWOOSH users. Those who own .SWOOSH digital collectibles will also have the opportunity to earn royalties by creating their own .SWOOSH collections

Who Is Eligible to Receive the .SWOOSH Airdrop?

.SWOOSH community members who have previously co-created with Nike will be eligible to receive an OF1 poster from Nike. This includes #YourForce1 challenge participants and .SWOOSH Session attendees. 

Members who’ve registered through Nike’s DEI (Diversity, Equity & Inclusion) and SCI (Social Community and Impact) partnership organizations will also receive their own OF1 posters.

The rest of the available posters will be airdropped to .SWOOSH members in a fair and randomized process. However, in order to be eligible, you need to be fully onboarded to the .SWOOSH platform with a .SWOOSH ID as of the snapshot taken on Apr 12, 2023, 12:00PM PST. Not sure if you’re eligible? No worries — you can verify this information on Dune Analytics. 

As an added layer of verification, .SWOOSH will be sending an airdrop confirmation email to all eligible community members. Simply look out for the email from official@swoosh.nike to verify your eligibility.

If you’ve missed out on the airdrop this time, don’t worry, as Nike has stashed 82 posters away in a Nike-owned wallet, with plans to distribute them in the form of giveaways and rewards in the future. You can join the waitlist today and still get a chance to win.

Are Nike .SWOOSH’s OF1 Boxes a Good Investment?

Since it’s a new web3 platform, the utility of .SWOOSH is still in development. Since Nike is still rolling out the platform’s features and membership access, the timeline for many details hasn’t been released. However, the platform has tremendous potential, and Nike’s intentional rollout indicates that it’s dedicated to making .SWOOSH a success. 

OF1 is the first digital sneaker collection available on .SWOOSH, so in addition to offering exciting utility, there’s potential for the value of these NFTs to increase as well. Given the fact that only a select group of people have the ability to purchase OF1 Boxes initially, and with the membership base expected to grow substantially, demand for these NFTs is likely to grow as well. With these key factors in mind, OF1 Boxes may be a great investment.

Closing Thoughts

Nike has a longstanding history of breaking barriers and is poised to continue on this path with its focus on combining virtual and physical products and experiences through .SWOOSH. If you aren’t one of the early users of .SWOOSH, you can join the waitlist today.

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