TPan has gone off the rails, what kind of title is that?
I know, I wanted to play on Nancy Sinatraās āThese Boots Are Made For Walkingā š
Nike š¤ EA SPORTS
Yesterday night, Nikeās Our Force 1 sale concluded. This fortunately meant I could stop refreshing the Our Force 1 contract 50 times a day. What can I say, I enjoy watching numbers go up.
If you want a better visualization of the Our Force 1 stats check out Sea Launchās Dune dashboard. TLDR:
97,627 Our Force 1ās were minted out of the total 106,453 possible (92%)
$1.93 million in revenue (97,627*$19.82)
52,971 minting addresses. This doesnāt mean there are 53k people who minted, because I know there are some people who had multiple .SWOOSH accounts.
There were 3 waves of mint volume
First Access: For anyone who had an Our Force 1 poster NFT
General Access: Everyone with a .SWOOSH account
Nike SNKRS push notification
The distribution of OF1 boxes purchased was interesting, and Iāve added what I believe to be the logic for each of these cohorts:
1: Accounts that wanted to simply participate (or possibly multi-account holders)
2: Purchased 1 of each style: Classic Remix and New Wave.
4: Accounts without an OF1 Poster that purchased the maximum quantity
5: Accounts with an OF1 Poster that purchased the maximum quantity
Iāll let you guess which group I fell under š
After the mint ended, .SWOOSH kept the community on its toes.
What was the announcement?
Nice. Nike announced a new partnership with EA SPORTS to create virtual sports experiences in their video games:
Select .SWOOSH virtual creations will be available in EA SPORTS titles
More details about the integration will be shared in the coming months
As we await more details about the integration, weāre seeing a great example of interoperability.
Interoperability has been a concept that the industry has promoted for a while, and weāre seeing what this can look like in practice for web3.
What I think is happening here is a one-to-many application for both .SWOOSH and EA SPORTS. When I wrote about the concept of interoperability last year, I provided this example:
For EA, weāre seeing something like this:
On the other hand, weāre seeing something like this for Nike:
Outstanding questions remain for both sides:
Can Nikeās virtual assets be utilized in different platforms, environments, and games? Eg: Can Our Force 1ās be worn in an EA Sports title and other games?
Will EA SPORTS titles allow other brands to be worn alongside Nike, or is this an exclusive partnership? I imagine Adidas and Puma have similar efforts underway. If not, they will now lol.
For both sides, this is a milestone in signaling. The partnership doors are open for business and I bet the DMās and e-mail inboxes are popping off.
For more insights, Jonah has great takes from the gaming POV.
Iām looking forward to seeing what else Nike has up its sleeves. IMO, theyāre off to a good start.
A Crypto Future by Compound Crypto
Compound Crypto, an early-stage Crypto VC fund, shared a piece exploring what the future of the space might look like over the next few years titled A Crypto Future. The team has invested in companies like Arbitrum, Compound, Dapper Labs, and The Graph.
This was an enjoyable read because it was less a Twitter thread and more like a story. Plus, I am partial to VC folks that can write š
What are some of the predictions for 2023 and 2024?
DeFi crosses 30 million unique users (currently at ~8 million) thanks to KYC products and traditional institutions.
Mobile wallet apps help to increase adoption and remove many of the UI challenges Crypto currently faces.
Web3 gaming is not the killer use case because blockchains arenāt robust enough to support fully on-chain games, yet.
The mass adoption unlock is due to user-friendly search tools that make it easier to explore on-chain. There will be āsearch buddiesā that integrate with on-chain data and wallets and quickly answer questions like āShow me the most popular NFTs over the last monthā, or āBuy $100 of ETH for me over the next 2 hoursā.
Solana shows its dominance through gaming due to its focus on mobile.
Polygon falls behind due to the lack of in-game throughput performance that Solana has. It ends up focusing on web2 brand partnerships and loyalty programs.
Decentralized social apps still struggle for mass market adoption, but start finding the wedges for differentiation.
Read A Crypto Future in its entirety and see what they predict all the way out to 2026 š
See you next week!
TPan, thank you for your incredibly well-designed and thoughtout newsletter. This has quickly become a must-read for me. Keep killing it, fren! ^-^
Great read Tpan, so hyped about this partnership. This is massive. Let's see how long it takes to get the ball rolling. Exciting stuff though!