Nike .Swoosh beta launch 'Own The Future of Sport'
Image credit: Nike
What launched?
Nike is betting on building its own web3 ecosystem based on a.Swoosh, social identity system. The .SWOOSH ID is a soulbound NFT, which means it can never be traded. Instead, it operates like an ID badge within the Nike web3 world and beyond.
This from the company that has generated $186 million in total revenue from NFTs, more than the 10 next best brands combined (see our market report below). Nike says:
“The new digital community and experience is a home for Nike virtual creations and uses blockchain-powered technology — or what many call “web3” — to offer an inclusive, equitable place for athletes, creators, collectors and consumers to design and own the future of sport.”
Nike’s platform is a few years in the making. Nike will release its first-ever collection of digital wearables in 2023, which will be informed by .SWOOSH holders and include royalties to the winners who help to co-create virtual products.
Our 0.02ETH 🍃
- Nike is building an immersive community, not just an NFT drop.
- Built on Polygon; perfect for large-scale projects with low-cost transactions. Nike has previously only built on Ethereum, so it makes sense they’d want to maintain EVM compatibility while leveraging Polygon’s speed and affordability.
- Nike is ‘seeding’ its web3 community through the free .SWOOSH NFTs -- and so far over 275k unique users have minted! It's a great way to develop an addressable audience of wallet holders, and learn about their users onchain web3 activity. (More on free NFT tactics here.)
- Collaborating with creatives in their community using .SWOOSH NFTs as their identifier is a cool way to reward active fans with revenue-share opportunities for co-creations. Is this the future of remix and collab culture? Leave it to the DTC kings at Nike to shape the way.
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Mojito Brought the Toledo Museum of Art’s Debut Web3 Collection to Market with 10,000 NFTs — and Zero Code
Learn how we helped the museum tell an essential cultural story through the power of digital art and community.
Mojito's technology breathes life into dynamic web3 experiences for brands. We simplify the complex backend, allowing the front end to effortlessly focus on the fun stuff – including sticky consumer engagement.
Our recent collaboration with the forward-thinking museum turned this vision into reality. Mojito worked with Toledo's team to orchestrate a digital art experience by Osinachi & Yusuf Lateef. Our community engagement portal enabled Toledo to provide a smooth minting process, hassle-free claims, turnkey community management and reporting for the museum. The result? A powerful drop of 10,000 NFTs.
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The Web3-ification of Credit Card Loyalty Programs
Visa's new web3 loyalty program is no accident.
Swipe (or nowadays, tap) your credit card, and earn points. A process that’s now commonplace has a lengthy history that can teach us more than a few things about customer loyalty — and its journey through technology. Let’s start at the beginning.
From paper to plastic 💳
While the history of credit cards dates back thousands of years, things turned from stone to metal — and later paper and plastic — about halfway through the 20th century with the arrival of the modern credit card in 1950. Reportedly invented following a case of a forgotten wallet, The Diner’s Club Card (initially owned by Discover Financial Services before its acquisition by BMO in 2009) was the first multipurpose charge card credit card intended primarily for dining and travel expenses.
The Diner’s Club was also the first to pair the concept of charging credit with fueling consumer loyalty through the inception of points. Through partnering with dining, entertainment, and later, travel entities (i.e., airlines, rental cars, and hotels), Diners Club cardholders paid a tiered annual fee to gain special perks based on how much money they spent. The greater the yearly fee, the greater the perks.
About eight years following Diner’s Club in 1958, American Express entered the credit card industry with the world’s first international charge card, which initially had an annual fee of $6 (one dollar more than Diner’s Club). Shortly after, Bank of America and Mastercard followed suit. During this initial period, most credit cards focused on offering customers just that — credit — with loyalty and reward yet to take off.
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The 10 brands that won web3 in 2023 🏆
Our fingernails are officially onchain.
2023 was a year of building in web3 — and no shortage of brands got in on the action.
Across luxury fashion, institutions like Prada, Louis Vuitton, and Maison Margiela reimagined the roadmap for retaining customers through captivating yet accessible content that turned buying products into something more: an enduring digital connection. Others, like beauty platform KIKI World, pushed the limits of blockchain — and fingernails — via web3 communities focused on co-creation and customization. Across the sports field, Manchester United, Red Bull Racing, and the Tampa Bay Rays-owned Rowdies, won through fan programs and sticky experiences that incentivized fan engagement and boosted sales. The list goes on.
Below are 10 brands who did it right in 2023 — and, in the process, won web3.
