Nikes .SWOOSH NFT Sneaker Sale: $1 Million in Sales, 66,000 NFTs Sold, and Chronic Delays

Nikes .SWOOSH NFT Sneaker Sale: $1 Million in Sales, 66,000 NFTs Sold, and Chronic Delays

Nike’s .SWOOSH Web3 platform releases its first NFT sneaker collection, surpassing $1 million in sales despite persistent delays and technical issues.

The highly-anticipated virtual sneaker sale on .SWOOSH faced persistent delays, leaving some users frustrated. In the meantime, Nike has was known the release as a success.

Nike’s .SWOOSH Web 3.0 platform has released its 1st non-fungible crypto token (NFT) sneaker collection, surpassing $1 Million in sales regardless of persistent delays and technical issues that hindered the user experience.

The sale of the highly-anticipated Nike virtual creations began on May 15, nearly a week after their previously- announced start date of May 8. The 1st round of sales, was known ” 1st Access,” was open exclusively for select users who were airdropped “posters” that served as their early entry ticket. In total, Nike reveals there were 106,453 posters distributed to its earliest .SWOOSH community members.

The “General Access” sale began on May 24 – two weeks after its proposed sale date of May 10 – and attempted to offload any remaining Non-Fungible Token (NFTs) from its total inventory of 106,453.

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As of Thursday afternoon, over 66,000 Non-Fungible Token (NFTs) had been sold, reports by Polygonscan. Each Non-Fungible Token (NFT) was priced at $19.82 – a tribute to the year the Air Force 1 sneaker was 1st released – indicating that Nike has raked in about $1.3 Million from sales so far, though the sale is ongoing and now ends on June 1.

Although while initial numbers look promising, the launch was delayed plenty of times owing to technical and traffic issues, reports by Nike, leaving excited buyers frustrated by the cumbersome process.

In the meantime, updates from the Nike team have intimated that sales are moving slower than expected. Although while trending Nike physical sneaker releases often sell everything in minutes, over a third of the OF1 Non-Fungible Token (NFTs) are still available for purchase.

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Chronic delays and technical glitches

And once the 1st Access sale eventually  took off on May 15, the launch was bogged down by repeated delays, setting the tone for a bumpy Non-Fungible Token (NFT) mint.

On May 7, the Twitter account for .SWOOSH tweeted that the platform required several  more days to “fine-tune” its rollout and create a “seamless” experience.

Nonetheless, when the 1st Access sale began, the website frequently crashed, leading to an uneven minting experience that lasted plenty of hours. Several users expressed disappointment with the finicky experience, seeing as Nike’s expertise in releasing limited-edition collectibles to the masses.

On May 16, Nike extended its 1st Access sale ” owing to the ongoing tech issues,” pushing back its General Access sale in response. Additional “traffic issues” led to a Second delay.

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On May 17, Nike stated that there were still over 85,000 OF1 boxes left. By May 22, that number still hovered around 83,000, regardless of what appeared to be a large number of users eagerly awaiting the  potential to buy their NFTs.

The General Access sale began on May 24, though the site was once more plagued with processing delays. Several users even informed being charged for OF1 Non-Fungible Token (NFTs) regardless of not receiving them. As a result, .SWOOSH said that it “ran into an unforeseen error that held up the minting process” that ” likewise blocked additional purchases.”

On May 25, Nike tweeted that over 55,000 OF1 boxes had been sold to over 30,000 unique buyers and hailed the sale a success. Other Nike staff praised .SWOOSH for “managing some insane traffic.”

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Nike did not instantly respond to CoinDesk for comment.

The worldwide sneaker giant has been making steady moves to expand its Web 3.0 strategy in the previous many years, previously acquiring digital fashion startup RTFKT Studios. RTFKT has launched plenty of successful Non-Fungible Token (NFTs), including its CryptoKicks collection, and has partnered with brands like Rimowa and artist Takashi Murakami on limited-edition releases.

.SWOOSH has teased the release of a .SWOOSH marketplace in the months ahead and has touted intends to expand into virtual and IRL experiences, gaming, mint passes and 3D Files.

Toby Leah Bochan.


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