Nike has made around $1.3 million from sales thus far with over 66k NFTs sold.

The debut was delayed many times owing to technical and traffic challenges.

Despite delays and technical challenges that impeded the user experience, Nike has sold over $1 million of its first non-fungible token (NFT) sneaker collection through the .SWOOSH Web3 platform. Nike’s much-anticipated virtual creations didn’t go on sale until May 15, over a week after their initial May 8 launch date.

Users who were randomly selected to receive airdropped “posters” with early access codes were granted “First Access,” the first round of sales. According to Nike, they handed out 106,453 posters to its first .SWOOSH community members.

Over $1M Despite Technical Issues

The “General Access” sale, which started on May 24 (two weeks after the original sale date of May 10) was supposed to sell off the remaining 106,453 NFTs.

Polygonscan reports that by Thursday afternoon, over 66,000 NFTs had been purchased. Nike has made around $1.3 million from sales thus far, despite the fact that the sale is still running and will expire on June 1 (a nod to the year the Air Force 1 footwear was initially produced).

Although the early sales figures appear good, Nike claims that the debut was delayed many times owing to technical and traffic challenges, leaving delighted customers unhappy with the lengthy process. Meanwhile, Nike’s latest reports have hinted at slower-than-anticipated sales.

In contrast to the rapid sellout of other Nike sneaker drops, nearly a third of the OF1 NFTs are still in stock. While the First Access sale did begin on May 15, it was plagued by delays leading up to that day. This boded poorly for the NFT mint. Maybe Nike can make the required modifications to avoid such mishaps in the future.

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Filed under: Bitcoin - @ May 26, 2023 10:08 am