The web3 platform developed by the well-known sports brand Nike, dubbed .SWOOSH, has reportedly generated over $1 million in sales from its inaugural sneaker-themed non-fungible token (NFT) collection. These impressive sales numbers seem to point towards a thriving demand for aesthetically pleasing shoes in the metaverse, despite some initial technical hiccups and delays.
As the .SWOOSH team explained in a tweet on May 24, the first day of the general sale, “We ran into an unforeseen error that held up the minting process. This also blocked additional purchases.” Prior to this, NFT sales had already begun for an exclusive group of selected users on May 15, roughly a week following the intended launch date on May 8.
Data from Polygonscan reveals that over 71,000 NFTs have been sold thus far, out of an initial inventory of 106,453 NFTs available for purchase. At a selling price of $19.82 per NFT – a reference to the release year of Nike’s original Air Force 1 sneaker – Nike’s NFT sales have now likely crossed the $1.4 million mark.
However, not everything has been smooth sailing for the NFT sale. Comments from the .SWOOSH team about the extension of the pre-sale for selected users suggest that this particular phase of the sale was not progressing as quickly as hoped. On May 17, they announced on Twitter, “As a reminder, we have extended the First Access Sale until Wednesday at 11:59 PM PDT to ensure you have plenty of time to participate.”
Nike initially launched its .SWOOSH web3 platform in November 2022, with plans to sell virtual sneakers for under $50 per pair. RTFKT, a company that creates NFTs and digital sneakers for the metaverse and was later acquired by Nike, saw .SWOOSH as a golden opportunity to introduce millions of individuals to the web3 realm. According to RTFKT, “.SWOOSH is a platform for Nike’s virtual creations, for them to be more accessible and to onboard the next millions into the wonderful world of web3 and digital assets.”
Based on the sales numbers, it appears that the substantial interest in the metaverse and the desire for virtual, stylish footwear are holding strong among consumers. However, questions still remain about the platform’s early technical issues and delays, casting a shadow of skepticism over .SWOOSH’s performance. Only time will tell whether or not the sports giant’s foray into NFTs and the metaverse will maintain its momentum and achieve ongoing success.
Source: Cryptonews
