Why is “.SWOOSH”, Nike’s digital collectibles co-creation marketplace, already attracting over 220,000 curious people when it’s not even open yet? ⤵️
Last November, Nike launched the beta version of its .SWOOSH marketplace to co-create, buy and sell phygital products that can be used in virtual worlds. These unlock exclusive physical products and events.
In 2015, Nike launched its SNKRS mobile app dedicated to selling limited edition sneakers, accessible only by raffle: raffle. Winning a raffle means winning the right to purchase an exclusive product.
Since 2015, many fashion and luxury brands have adopted this distribution system, which is now widespread. .SWOOSH is the new chapter of Nike to distribute its products.
3 reasons why .SWOOSH will be adopted massively ⤵️
1️⃣ - Community: The drop model creates frustration due to limited accessibility to physical products, which is what SNKRS App offers. This model has been repurposed by the powerful players in the NFT ecosystem (Yuga Labs, RTFKT etc) to federate communities. SNKRS App was an exclusive distribution tool without any real interaction with users.
➡️ .SWOOSH will be a tool to federate its community around exclusive products by taking up the standards of the NFT ecosystem that worked.
2️⃣ - Co-creation: With its .SWOOSH marketplace, Nike wants to transform again the way we consume products through digital co-creation.
➡️ This co-creation allows the brand to strengthen its customers’ sense of belonging.
3️⃣ - Trade: .SWOOSH wants to simplify the exchange of exclusive physical products. The main target community is sneaker collectors. This community buys, resells and exchanges sneakers via various platforms (StockX, Wethenew, Vinted, Vestiaire Collective…).
➡️ .SWOOSH will make the exchange as simple as possible thanks to digital collectibles (no shipping or authentication) and Nike will be able to recover royalties on each transaction.
The comparison between SNKRS App & .SWOOSH ⤵️
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