Nike launches the first physical sneaker model linked to its .Swoosh Web3 compatible platform. The Air Force 1 Low “Tinaj” sneaker, rated at $120is exclusively available to members via Nike’s SNKRS app.
Only .Swoosh Members who purchased and revealed an Our Force 1 (OF1) virtual box will be eligible for the “Tinaj” sneaker, according to a Nike blog post. Users must visit their .Swoosh profile page, go to the unopened OF1 box and click “reveal”. Members will have until October 16, 2023 to exchange their sneakers.
If members qualify for exclusive access to the “Tinaj” sneaker, they will receive a push notification from the SNKRS app and an email from Nike. The collection will officially release on October 20.
This decline comes at a time when the retail sector’s “metaverse momentum” has slowed. The word “metaverse” itself is undergoing a name change, while NFTs are repositioning themselves as virtual goods and, in certain cases, as access tickets to exclusive events and experiences which are linked to communities Loyalty programs.