Sportswear giant Nike is releasing its first NFT sneaker collection on its newly launched .Swoosh platform.
The virtual sneaker, called Our Force 1 (OF1), will be available for select .Swoosh users to participate in a poster airdrop starting April 18th, followed by a pre-sale on May 8th. On May 10, the entire .Swoosh community will be able to purchase these digital items through its marketplace.
Users can choose between two types of digital boxes — Classic Remix and New Wave — each featuring unique designs, including one created by four Nike fans who collaborated on the project in January.
Priced at $19.82, the boxes commemorate the year the Air Force 1 sneaker was first released.
Blending physical and digital, Nike’s OF1 sneaker features a virtual design inspired by the brand’s iconic Air Force 1 model. The sneakers will come with corresponding physical shoes and will only be available to those who purchase the digital version.
The NFT sneaker collection is part of Nike’s strategy to enter the emerging NFT market and establish itself as the leading brand in virtual goods.
Nike’s entry into the NFT market comes at a time when the industry is developing rapidly, with the total market value of NFT reaching $30 billion in March 2022.