When we talk about sports equipment, the first brand that comes to mind is Nike. This sports manufacturer has always been way ahead of its competition when it comes to adaptation and transformation.
As technological advancement keeps happening, Nike is integrating and following the recent trends as their brand strategy. This time, Nike is moving its gears to the latest breakthrough in technology – Blockchain, Web3, and the Metaverse.
In this article, we will talk about how Nike is leveraging the metaverse and Web3 so that they don’t miss out on anything new and exciting.
Nikeland – Nike’s own Metaverse
Using the Roblox global platform, Nikeland is Nike’s own metaverse where people can meet, socialize, and do a lot of fun and exciting stuff. In the metaverse, we can play as unique avatars and explore the virtual world as we play games, chat, or even make money – real money.
Nikeland was launched in November 2021. Since then, there have been 7 million visitors that have had fun in this virtual world.
LeBron James was the man to talk about when he made an appearance in Nikeland. There are other ways to have fun in Nikeland such as buying digital products that can give your avatar a whole new look. (they even have sneakers, Nike)
Roblox doesn’t restrict you to one virtual world. If you buy and decorate your avatar with a digital accessory, you can travel to other Roblox worlds and flex your assets there as well. In the case of Nike and their products, you can go to other worlds and work as their brand ambassadors.
In Nikeland, each visitor owns a yard (a piece of land) where they can show off their digital collectible.
Nike – The Psychology of Selling Luxury
From the start, Nike has been known for selling luxury and lifestyle in the form of their products. Back in the olden days, Nike was just a sports brand but today, the brand is worn by show-offs, celebrities, and whatnots.
As their business model is successful and doing just fine, they are now running their business in the metaverse and you guessed it – the business is booming!
In Nikeland, the model is designed in such a way that it pushes you to own fashionable products that the users can own. There are also a number of competitions going on and when you win them, you can flex your high scores and achievements.
Nike has been successful in making their virtual world interesting as they enjoy the worders of fashion and digital transformation.
Nike and NFTs
As we embrace Nike and its adaptation to digital transformation, let us talk about how they quickly managed to invest their time and money into NFTs. NFTs are non-fungible tokens that live on a blockchain. As the word non-fungible, these assets are one-of-a-kind.
As you own an NFT or any non-fungible digital asset, attach it to any item and you bring uniqueness to it.
To really get into the NFT space, Nike went on to buy RTFKT – a studio that makes next-gen NFTs.
For starters, the RTFKT Studio sneaker project with Nike was a huge success.
The project was called CryptoKicks Dunk Genesis. A total of 600 pairs of NFT sneakers were sold out in just 6 minutes. It generated total revenue of $3.1 million. Using “Skin Vials”, you can decorate and add special effects to your sneakers. The vials were created by renowned artists.
Nike knows how to get millennials’ attention with their exciting products. People today like uniqueness and Nike, in the form of NFTs, is providing them with what they want.
Nike and its Awesome Stores
The sports manufacturer is not only targeting the virtual worlds but also the live experience in their physical stores. As customers come into their outlets, they’ll experience a whole new Nike store from now on.
Bricks ‘n’ mortar stores are the new way Nike has adapted. In Nike’s Flagship store in New York, the brand is encouraging the customers to experience the new tech. In that store, the customers can use the baseball court to have fun as well as watch their highlights thanks to the in-store cameras.
A treadmill also awaits them to experience the outdoor environment in the store. they can run on the treadmill and sweat as they shop.
There are experienced trainers and coaches who you can take advice as you buy your favorite sportswear. Did we mention you have the option to customize the products to your liking before you buy them? Well, thanks, Nike!