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Nike NFT Sale Surmounts Technical Issues to Hit $1 Million in Revenue

UTC by Mayowa Adebajo · 2 min read
Nike NFT Sale Surmounts Technical Issues to Hit $1 Million in Revenue
Photo: Unsplash

Although the first round was originally proposed to last for only two days, technical glitches and delays caused it to drag through nine days.

Technical issues and unprecedented delays could not deter Nike NFT, OF1 collection, from setting mind-blowing records with its highly-anticipated sale. This follows after the NFT sale, which began just over a week ago, is reported to have officially raked in over $1 million.

Debuting on Nike’s .SWOOSH Web3 platform, Our Force 1 (OF1) collection began selling on May 15. That was about a week later than initially planned, having first announced a start date of May 8.

The first round of sales, which Nike called “First Access”, was only open to a few users that were randomly selected and allowed to partake of an airdrop of “posters”. According to Nike, the airdrop distributed 106,453 posters that would later serve as early entry tickets for the users.

Although the first round was originally proposed to last for only two days, technical glitches and delays caused it to drag through nine days. The website frequently crashed, causing users to have uneven minting experiences.

Nike NFT Records Success amid Website Crashes and Errors

On Wednesday, May 24, the “General Access” sale finally began with the hopes of offloading whatever is left of the total inventory of 106,453 NFTs. However, that too was greeted with many setbacks. The site was again plagued with processing delays. And there were cases where users claimed to have been charged for OF1 NFTs they did not receive.

In response to the complaints, .SWOOSH stated that it was aware of the situation. The platform claimed to have “run into an unforeseen error that held up the minting process”, and “blocked additional purchases”.

As of Friday morning though, 70,734 NFTs had been sold, according to Polygonscan. And considering that each NFT is priced at $19.82, then Nike has raked in over $1.4 million from sales so far. The sale is still ongoing and is expected to run until June 1.

So, despite the setbacks, the number of OF1 boxes that have been sold to over 41,600 unique buyers suggests that the sale has been a success. But it really could have been more if one bears in mind, the large number of users that waited anxiously to purchase these NFTs.

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