Nike’s BIG 2024 Roadmap
EA Sports Games to Feature Nike Collectibles (NFTs)???
👋🏽 Hello everyone, gm gm, WELCOME BACK to another edition of the Overpriced JPEGs newsletter!
Today, we’re talking about Nike’s 2024 roadmap and how they are planning to take NFTs mainstream in 2024.
What you’ll read below is a newsletter published by Kyle Reidhead from Web3 Academy, who have joined up with us to write + curate in-depth, quality content directly in your inbox!
As always, if you enjoy this one, let us know by replying to this email! Let’s get into it.
One of the biggest brands in the world, Nike, has recently shared their web3 plans for 2024.
Snippet: We could see Nike NFTs in a ton of popular video games this year, reaching hundreds of millions of players. 🤯
Today, I’ll give you a summary of dotSWOOSH’s 2024 roadmap.
If you’re unaware, dotSWOOSH is Nike’s central hub for their ventures into web3, NFTs and virtual apparel.
dotSWOOSH allows users to engage with digital products and potentially co-create and earn from digital product royalties.
As a quick recap beforehand, here are some of dotSWOOSH’s achievements in 2023 (2024 is planned to be even bigger):
Airphoria – a Nike-themed map available for a limited time for Fortnite’s 240 million players.
Those who participated on the map for at least 10 minutes were rewarded with digital sneakers.
Additionally, players could link Epic Games and Nike accounts for .SWOOSH achievements.
TINAJ (This Is Not A JPEG) Sneakers
A pair of shoes exclusive for those who revealed at least 1 OF1 Box before October 16th 2023.
These were sold for $120 and members received a digital twin shortly after.
TINAJ Tee
A $55 t-shirt available to members who had the TINAJ AF1 and TINAJ virtual collectible in their .SWOOSH collection.
Free IRL Posters
If you showed your dotSWOOSH ID in one of 12 particular stores in the US, you would have received a free OF1 poster.
As you can see, Nike’s dotSWOOSH has been dabbling a lot with ‘phygital’ goods last year, and they said they learned a lot about ‘virtual products, co-creation, and self-expression’.
Well, it’s now time for dotSWOOSH to double down on this in 2024. Let’s explore how exactly they aim to do this… ⏬
Nike’s dotSWOOSH 2024 Plans 🗺
1. Nike In-game Wearables 👟
Nike’s #1 priority for 2024 seems to be virtual products, of which they’re promising a lot more in 2024.
They’ve already been successful with the drop of the TINAJ sneakers mentioned above, but also with the drop of 57,800 Our Force 1 digital sneakers, which were revealed in May 2023.
They’re planning more of this, with a focus on utility inside a variety of video games.
Nike In-Game Wearables will be different from their digital collectibles (like OF1 or TINAJ) because you can purchase and wear these collections directly in your favorite video games.
They have a partnership with EA Sports already, so we can expect games like FC24 (formerly FIFA), Madden and others to integrate NFTs in their game play.
Get this: There are 700 million players in EA’s player network. While all of these aren’t active gamers, the reach is still immense.
The role of NFTs in these games is still unclear, but imagine if you could dress LeBron James with your own .SWOOSH NFT sneakers, inside NBA Live. 😳
That would be nuts, and thanks to Nike’s huge reach and influence, they will most likely partner with the biggest video games out there.
2. Phygital Items 🤖
Purchase a wearable inside a game? Unlock it in real life. 🔐
Following the great success of TINAJ Air Force 1s, Nike wants to double down on providing exclusive physical apparel and footwear in the real world based on purchased in-game wearables.
To unlock these products, you won’t even need to have a wallet – you’ll just link your game accounts to Nike.
To qualify? Buy .SWOOSH’s in-game wearables or digital collectibles.
3. Self-custody 🔑
Right now, if you have a dotSWOOSH ID and collectibles, you neither custody them nor can you sell them on secondary marketplaces.
dotSWOOSH says that they’ll allow members to off-ramp collectibles to their own wallets in 2024.
They also promise the ability to sell your collectibles. But where?
4. Marketplaces 🏪
First up, no, dotSWOOSH won’t build their own marketplace.
They say this could be a distraction from focusing on the things that really matter for them – product creation and storytelling.
Instead, they will work with marketplaces that guarantee royalties to creators.
Huge!
They said that they really value artists and creators and they want to make sure they benefit financially for the contribution of their art.
Here’s a thought… 🤔
Yuga Labs is building their own royalty-enforced NFT marketplace in response to OpenSea making royalties optional.
Is dotSWOOSH waiting for Yuga’s NFT marketplace before introducing the ability to off-ramp?
They could be… And if that’s the case, then this will be huge for both parties. 🚀
The other option is Rarible, as they enforce royalties across their platform too.
Let’s see which NFT marketplace wins a massive partnership with Nike.
Wrapping Up – Nike’s Taking NFTs Mainstream 🌊
Many big brands have stepped back from web3 during the bear market…
Reddit removed community points
Meta removed NFTs on Instagram
X removed support for NFT PFPs
Meanwhile, Nike is moving ahead full throttle.
Their 2024 plans with dotSWOOSH are a big deal, especially their partnership with EA.
This could be a game-changer, bringing Nike’s virtual collectibles to gamers all over the world.
It's not just cool—it could kickstart a new wave of interest in NFTs, making them a common part of our digital lives.
So, keep an eye on Nike. They're not just playing the game; they're changing how we think about digital fashion and gaming.
Should we plan an onchain PRO report on Nike’s web3 endeavor? Should we analyze the strategy and business of dotSWOOSH and Nike’s other web3 studio RTFKT?
Let us know by replying to this email.
P.S. Web3 Academy PRO is still trading at 33% OFF for just 1 more day.
Disclaimer: This article is for informational purposes only and not financial advice. Conduct your own research and consult a financial advisor before making investment decisions or taking any action based on the content.