Nike, one of the foremost sportswear companies in the world, has made headlines with the release of its first-ever Swoosh NFT digital sneaker drop. Our Force 1 (OF1) is a collection of Polygon virtual sneaker NFTs created to pay homage to the iconic Nike Air Force 1 sneaker from 41 years ago.

Potentially hundreds of thousands of virtual pairs of the brand’s iconic Air Force 1 footwear will comprise the OF1 collection. As part of the drop, two varieties will be available: Classic Remix sneaker boxes, which contain virtual kicks inspired by Air Force 1 shoes released between 1982 and 2006, and New Wave sneaker boxes, which contain pairs designed after 2007.

Nike Blends Physical and Digital Worlds with Affordable Virtual Sneakers

Nike has taken an innovative step toward merging the physical and virtual realms with this action. The company has a strong brand identity that extends beyond the realm of athletics and is associated with its iconic sneakers. Nike’s entry into the realm of NFTs demonstrates the company’s commitment to innovation and creating new opportunities for audience engagement.

Nike appears to be adopting a more egalitarian stance by providing so many OF1 NFTs at a relatively low and fixed price. The company offers virtual shoes for $1.99 each, making the OF1 collection accessible to a larger audience. This strategy differs from other NFT deliveries, where prices can be prohibitively high and exclusivity is a significant demand driver.

The NFT market has exploded over the past year, with first-quarter 2021 sales alone reaching a staggering $2 billion. Traditional art collectors, investors, and, most recently, the sports industry have shown interest in the market. NFTs enable the creation of unique, verifiable digital assets that can be purchased, sold, and traded as if they were physical collectibles.

Not only is Nike’s entry into the NFT market a significant step for the company but also for the entire sports industry. It will be intriguing to see how this decision plays out and if other sports brands follow Nike’s lead. On April 25, the Nike website will release the OF1 collection, and it will be fascinating to see how many people race to purchase their virtual Air Force 1s.