Morning Minute | Nike Is Launching First-Gen Digital Shoes for $20
GM!
Take a minute to catch up on the latest in the Web3 space with today's NFT market analysis, top movers, and upcoming mints:
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TylerD's Market Summary
Nike is coming for the masses with its new virtual shoe launch "Our Force 1," with entry prices at fractions of physical shoes. Here's what you need to know.
👟 Nike's 1st Digital Shoe Launch
Nike is officially set to launch and sell its first-gen digital shoes with its Our Force 1 program.
And they're cheaper than Dad shoes.
The Nike .SWOOSH Our Force 1s will debut on May 8, for the price of $19.82.
They are not launching multi-thousand-dollar PFPs, instead sticking with what they know best - shoes.
At that price point, Nike and .SWOOSH are officially coming for the masses.
Wait - What Is .SWOOSH?
.SWOOSH is the name of Nike's Web3 program and home for its virtual and digital goods.
It promises 4 actions for community members, including:
- Create, collect, trade and flex Nike virtual creations
- Unlock special access to content or drops
- Build with the community on challenges and co-creation opportunities
- Pull up to exclusive Nike events
Nike has executed a grass-roots growth campaign for .SWOOSH, with a hybrid focus on irl events for community building and education, along with its digital campaign.
And it's seemingly working, as .SWOOSH already has over 330,000 members.
Early and active members of the .SWOOSH community have been involved in the curation processs of the first digital creation "Our Force 1" (OF1).
Our Force 1 TLDR
Here's what you need to know for the upcoming Our Force 1 drop:
- The OF1 collection comes in two digital “boxes,” the Classic Remix box and the New Wave box
- Each box is priced at $19.82 USD, exclusive for .SWOOSH members
- The Classic Remix box features more classic AF1s released from 1982-2006 or new custom ones with a nostalgic twist
- The New Wave box offers a classic from 2007-present or a new custom futuristic version
- The digital shoes come with 3D files for personal use
- New utility and benefits will be unlocked for holders in the "near future"
Starting today, April 18th, Nike will begin airdropping AF1 posters to random .SWOOSH members, which will act as mint passes.
Those who receive the free posters (106,453 lucky members, in a cod to the T9 encoding of "NIKE") will have first access to purchase the OF1s.
The timeline is as follows:
- April 18th - OF1 Poster airdrop
- May 8th - OF1 Box sale - Early Access
- May 10th - OF1 Box sale - General .SWOOSH Access
- TBD - OF1 reveal
Summarizing the program and collection, Ron Faris, GM of Nike Virtual Studio, had this to say:
“The OF1 collection shows how Nike will continue to innovate at the intersection of play and culture for the future of sports...With more members choosing to express themselves across physical and digital worlds, .SWOOSH is the marketplace of the future.”
Conclusion
While adidas may have a deeper Web3 presence and is more integrated with PFP culture, the model Nike and .SWOOSH are running out seems more likely to reach the masses.
$20 for first-gen Nike branded virtual shoes?
Sign me up.
If you believe that digital assets are the future, or even that there is a chance they will be important, this seems like a pure no-brainer.
And that's before we even get to the other potential utility via exclusive access to new drops, events, etc.
Kudos to the .SWOOSH team on this smart launch - now give me that poster!
🦉Moonbirds Launch A (Rewards) Token
$TALONS is coming for the Moonbirds ecosystem.
But it's not exactly what folks were expecting (hoping for).
It will not be a publicly tradeable token.
Instead, $TALONS will be a part of an internal rewards system within the PROOF ecosystem.
Here's What We Know:
- $TALONS will accrue daily via nesting for Moonbirds (Moonbirds only)
- Tokens can be used for allowlist spots for exclusive drops, access to merch, IRL events and more
- Founder Kevin Rose refers to $TALONS as similar to "credit card rewards points"
Market Response
The Moonbirds floor briefly popped ~10% to 3.3 ETH or so but immediately retraced.
Oddities had similar price action, running from 0.38 ETH to 0.45 ETH as the news broke, then gave back the gains.
The collections sit at 2.98 ETH (-1.3%) and 0.32 ETH (-18%) this morning.
Other Roadmap Updates
The PROOF team did share other pieces of information regarding the roadmap for its ecosystem, including:
- Diamond Exhibition to begin April 27, with Day One Nesters receiving early access with their Day One Pass (mint passes will be airdropped and tradable)
- Mythics Eggs Claim Starts Apr 17, offering varying rarity and art options, with early claimers getting the best odds at rares
Price action aside, most holders seemed happy with the update, as the PROOF team continues to execute against its previously shared plans.
No major surprises, but no disappointments.
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
- Trading volume came in around 16.5k ETH on Monday, the lowest volume day since Blur farming began; OS Pro captured 7% share, with Blur holding 63%
- Leading NFTs saw a mix of red and green on the day, with Azuki/Beanz as the clear winner
- Azuki shared that its "Follow The Rabbit" event in Las Vegas on June 23 will be open to all, and registration is live
- Beeple announced the date and is giving away free tickets for his next Beeple Studios event in Charleston as April 29, featuring an artist showcase, another live Everydays build and giveaways
- NBA Top Shot debuted Playoff Packs and have sold 28,000 of the $29 and 24,000 of the $10 packs so far
- Killabears announced KillaCubs mint details ahead of the April 20 drop, including 1 free mint per Killabear and 8,888 KillaCubs available at 0.25 ETH each
- Punk6529 shared a thread reflecting on the Memes by 6529 ecosystem's health and plans for the future; the SZN3 debut card from Deekay Motion opened at 0.59 ETH
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- The crypto market rebounded yesterday; BTC +0.3% $29,950; ETH +1% at $2,210; meme coins $PEPE and $WOJAK dominate attention and surge
- The SEC cited OMG, DASH, ALGO, TKN, NGC, and IHT as securities in a complaint filed against Bittrex
- US congressman Warren Davidson is set to introduce legislation to fire SEC Chair Gary Gensler
- Fractal raises $6M to build a platform for more transparent clearing and settlement in digital assets in the wake of the FTX disaster
🚀 NFT Total Volume
- MAYC (4,227 ETH, 11.9 ETH Floor)
- Azuki (2,773 ETH; 16.8 ETH)
- BAYC (2,332 ETH, 52.99 ETH)
- Wrapped CryptoPunks (1,209 ETH, 52.5 ETH)
- Moonbirds (907 ETH, 2.98 ETH)
📈 NFT Floor Price Increase
- Consortium Key (40%, 3.76 ETH Floor)
- YOU THE REAL MVP (20%, 82.69 ETH)
- Opepens (16%, 0.38 ETH)
- Beanz (13%, 1.74 ETH)
- Azuki (9%, 16.8 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is a slower day of drops after a big day on Monday.
The Seaport Subject drop is interesting as its the first set of editioned NFTs from the AI artist Botto, governed by the Botto DAO. Given that DAO's aim to support Botto, this is likely to see some demand.
- The Smurf's Society (10:00 a.m. ET); auction
- The Bakery (11:00 a.m. ET)
- Seaport Subject by Botto (1:00 p.m. ET); 1.345 ETH
- .SWOOSH poster airdrop (TBD)
Enjoy this write-up? Follow along with me on Twitter @tyler_did_it or reach out via email tyler.warner@luckytrader.com.
For all volume and floor price data, see Lucky Trader's Project Rankings page.
For all upcoming mints, see Lucky Trader's Project Schedule page.
