Nike is releasing the first physical sneaker design tied to its .Swoosh Web3-enabled platform. The Air Force 1 Low “Tinaj” sneaker, which is valued at $120, is exclusively available for members via Nike’s SNKRS application.
Only .Swoosh members who have purchased and revealed an Our Force 1 (OF1) virtual box will be eligible for the “Tinaj” sneaker, according to a blog post from Nike. Users must visit their .Swoosh profile page and navigate to the unopened OF1 box and click “reveal.” Members will have until October 16, 2023, to redeem their sneakers.
If members are qualified for exclusive access to the “Tinaj” sneaker, they’ll receive a push notification from the SNKRS app and an email from Nike. The collection will officially drop on October 20.
The drop comes at a time when the retail industry’s “metaverse momentum” has slowed down. The word “metaverse” in and of itself is getting a bit of a rebrand, while NFTs are being repositioned as virtual goods and, in some cases, tickets for access to exclusive events and experiences that are tied to community-based loyalty programs.