Nike’s multi-million dollar crypto push is here

It’s become a running theme: Massive brands are providing loyal customers with NFTs, but they’re no longer calling them by that.

Now, it’s a “collectible” or, in the case of Nike, a “creation.”

The shoe and apparel juggernaut announced that it is dropping its “first digital-creation collection” on .Swoosh, the blockchain-powered platform Nike announced late last year. Consumers will be able to buy digital images of virtual show boxes for $19.82, the company said. Each box will eventually unlock various digital versions of Nike’s “iconic Air Force 1” sneakers, which were first sold in … 1982.

The move to leave crypto lingo like NFTs or blockchain out of the equation follows similar promotions launched by The Rolling Stones and Fox Entertainment. The trend away from using industry lingo may be a fallout from the series of crypto scandals that keep unraveling, or an attempt to mainstream the technology by using everyday language.

Who gets Nike’s boxes?

Nike said it will give every one of its more than 330,000 .Swoosh members an opportunity to buy one of the digital boxes. If the company sells at least one box to each on of its members Nike could generate more than $6.5 million in revenue.

This isn’t Nike’s first digital foray. Late last year RTFKT, a digital fashion and collectibles firm owned by the company, released NFT sneakers..

The Air Force 1 boxes begin to become available from April 18 and can be purchased on Nike’s on digital marketplace.

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