This week, Louis Vuitton’s long-awaited expansion into the non-fungible token (NFT) market made headlines across both the luxury and Web3 landscapes — and its arrival did not disappoint. You can read more on that here.
In other news, following a groundbreaking run with its first NFT release, Nike’s .Swoosh platform has teamed up with EA Sports to delve deeper into the lucrative online gaming sector. Speaking of metaverse membership programs, the launch of Mercedes-Benz’s NXT platform has also got automotive and Web3 enthusiasts talking.
The new venture from the luxury car brand dropped its first NFT this week, in collaboration with Fingerprints DAO. Positioned towards long-term supporters, the artistic venture consolidates Mercedes-Benz’s virtual strategy. With membership programs being on everyone’s radar right now, this year is set to see a more steady and considered approach to NFT activations; one that no longer depends on hype, but champions merit instead.
— .SWOOSH (@dotSWOOSH) June 1, 2023
Nike’s .Swoosh platform partners with gaming giant EA Sports
What Happened: On June 1, Nike’s new .Swoosh digital community announced it would be partnering with EA Sports to create digital collectibles for the gaming giant’s future titles. EA Sports is the parent company of multiple notable esport games, including FIFA and Madden NFL. The tie-up aims to provide new opportunities for self-expression within these online communities by merging individual styles with sport.
The Verdict: Nike’s fledgling .Swoosh platform got off to a good start with its OF1 Box project, generating over $1.9 million in revenue from over 50,000 collectors. With the hub diving headfirst into the $197 billion online gaming market, its next venture looks to be a success in the making. Tapping an industry behemoth as prominent as EA Sports is a savvy move. But what does Nike’s solo success in the space mean for its partnership with Web3 studio RTFKT?
Mercedes-Benz kicks off new Web3 members platform with NFT drop
What Happened: In collaboration with Harm van den Dorpel and Fingerprints DAO, Mercedes-Benz dropped 1,000 unique NFTs on June 7, each of which depict the theme of velocity and fast-moving car wheels. This is the first drop to arrive from the automobile’s new Web3 arm, NXT, which taps into the lucrative digital art world and introduces a new luxury experience to the brand’s fanbase.
The Verdict: After Porsche’s NFT flopped in January this year, luxury automobile competitors have been brushing up on their activations and Web3 skills to reassure their communities and get ahead of the game. The same applies to Mercedes-Benz, whose metaverse strategy has been focused on streamlining its digital projects including its new Web3 arm NXT, which launched in May, and investing heavily in cultivating a strong online reputation as an early adopter. This first drop to arrive from NXT, dubbed “Maschine,” has kicked the platform off on a positive note, selling out in less than 24 hours.
Gmoney brings Web3 streetwear to Paris Fashion Week alongside Jeff Staple
What Happened: Gmoney’s luxury 9dcc label has teamed up with Stapleverse, the Web3 platform created by streetwear pioneer Jeff Staple, to launch a new product during Men’s Paris Fashion Week. The collaboration introduces a limited-edition baseball cap, with an NFC chip and digital twin NFT. Only 250 pieces of this release will be made available. Owners can expect perks including gamification activities and personalized POAPs. The digital collectible can also be worn by owners’ Stapleverse Sapienz avatar.
The Verdict: 9dcc has grown from a Web3-native brand to one of streetwear’s most exciting new kids on the block. Its latest tie-up is taking this presence in the fashion scene one step further, by tapping the esteemed calendar of Men’s Paris Fashion Week to drop its latest product. Joining forces with a sneakerhead and creative as prominent as Staple is set to bring 9dcc onto the radars of classic streetwear aficionados — who may not quite yet understand the workings of Web3 but certainly understand Staple’s influence on the street fashion scene.