Our Force 1 NFT Sale
Sports brand giant Nike’s Web3 (decentralized web) platform “.SWOOSH” released its first NFT (non-fungible token) sneaker collection “Our Force 1 (OF1)” on May 15th. Total sales to date are approximately 200 million yen ($1.4 million).
Nike’s sales to date are estimated at about $1.45 million. The sale will continue until June 1st, unless the approximately 30,000 items in unsold inventory are sold out.
There are 16 archive pairs in this video, let the scavenger hunt begin.
Which colors did you catch?
— .SWOOSH (@dotSWOOSH) May 25, 2023
The sale is being conducted in two stages. First, the pre-sale began on the 15th, followed by the general sale on the 24th.
Initial inventory started with 106,453 NFTs, and by the morning of the 27th, over 73,000 NFTs had been purchased by 42,470 different addresses. The sales unit price of OF1 NFT was set at 2787 yen ($19.82) each. This comes from the year the popular sneaker Air Force 1 was first released.
Nike hailed the release of its new (NFT) virtual sneaker, the OF1, as a success, but the release of .SWOOSH’s first NFT, the OF1, repeatedly caused technical problems, causing some users The result was confusing.
“An unexpected error halted the minting (NFT issuance) process, which prevented additional purchases,” the .SWOOSH team tweeted on May 24, the first day of general sales. Perhaps because of that, more than a third of OF1 NFTs are still available for sale.
The first OF1 sale was originally scheduled for May 8th, but on May 7th, .SWOOSH announced that it would be postponed for a few days to improve the user experience. When the pre-sale began on May 15, the site went down frequently and the NFT issuance process was unstable for several hours.
On May 16, Nike extended its presale and postponed the general sale, citing technical issues. “The early access sale has been extended to the end of May 17th, giving us plenty of time to participate,” the team announced on Twitter.
Apologies for any inconvenience! Are you seeing the items delivered to your collection now? If not, please let us know the error you’re seeing via DM.
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— .SWOOSH (@dotSWOOSH) May 25, 2023
As a result, the general sale started on May 24th, but the site experienced processing delays again. Some users complained that they only received two boxes of OF1 NFTs after purchasing three. In response, .SWOOSH explained that it was hit by an “unexpected error that delayed the issuance process.”
Day 1 @dot SWOOSH OF1 General Access sale
Proud of our team, especially engineering, for managing some insane traffic.
By the numbers (as of 5/24 11:10pm ET)
50,006 OF1 boxes minted
31,649 unique wallets
— Jasmine (@jgao) May 25, 2023
On May 25, Nike tweeted that it had sold over 55,000 OF1 boxes to over 30,000 unique buyers, praising the sale for its success. Also, Nike executives praised .SWOOSH for “successfully managing astounding traffic.”
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What is .SWOOSH
Nike first unveiled the beta version of its .SWOOSH platform in November. Membership registration is free, and .SWOOSH currently has more than 330,000 members.
The platform will be used as a resource for Web3 education and as a platform for buying and trading digital collectibles. Items purchased with .SWOOSH will also be wearable within video games and other immersive experiences.
Our Force 1 (OF1) uses Polygon (MATIC) as its blockchain platform, but the sale does not accept payments in crypto assets (virtual currencies). Each NFT comes with a 3D file that holders can utilize to “express themselves in new ways”, with a wider range of utility now being added, including “exclusive physical products and experiences”. I plan to
connection:Nike launches NFT collection “Our Force 1” in Web3 category “.Swoosh”
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