Research Summary
The article discusses Nike’s foray into the world of NFTs and digital assets. The company has launched a digital asset integration with Fortnite, creating a new world called “Airphoria” where players can hunt for a pair of Air Max 1 ’86 Back Bling, wearable in-game. This move is part of Nike’s .SWOOSH initiative, which aims to make digital wearables interesting and drive more people to care about them. The article also highlights the background of .SWOOSH lead Ron Faris, who has experience in marketing and product at Virgin and was put in charge of Nike’s SNKRS app.
Actionable Insights
- Nike’s .SWOOSH initiative: Nike is leveraging its .SWOOSH initiative to make digital wearables more appealing and to drive interest in them. This could be a significant trend in the digital asset space.
- Integration with Fortnite: Nike’s integration with Fortnite, a popular video game, could be a strategic move to attract a younger, tech-savvy audience. Other companies might follow suit, leading to more collaborations between brands and video games.
- Role of Ron Faris: The experience and vision of .SWOOSH lead Ron Faris could be a key factor in the success of Nike’s digital asset strategy. His background in marketing and product, as well as his experience with the SNKRS app, could provide valuable insights for other companies looking to enter the digital asset space.
