Thank you, Lord, for this day. May it be used for your glory!
Good morning everyone and welcome to the 5th edition of Crypto Thursdays!
Have you ever done much research on the history of Nike?
I haven’t either, but for all of you, I did. And do you know what I found?
Nike has always been on the move. Their motto: “Just do it” can be seen clearly throughout their history.
They have always been adaptable and excited to grow.
Did you know that Nike actually started under a different name? Blue Ribbon Sports. It was called that from 1964 to 1978!
They soon realized that was a dumb name and rebranded to Nike, a famous shoe they released in 1972. It became famous for that classic “swoosh” mark we all know and love.
From there, they were always ready to expand and adapt whenever opportunities arose. They have acquired many companies over the years from Converse to extreme sports gear companies. Expanding their brand from hipsters and youth pastors to extreme mountain bikers and snowboarders.
When technology started becoming mainstream, they knew they couldn’t miss out. They jumped on board and started releasing cool gadgets like heart-rate monitors and high-altitude compasses.
Well, today, Nike is still at it…
Jumping on board the NFT train.
Right now NFTs (and crypto) have taken a drastic downturn.
Some people are screaming the bubble has popped. The hardcore people that have been in since the beginning are silently waiting for the bear market to be over just like they always have. Always hodling.
But now that the dust has settled a little, it is a great time to take a look at the NFT market, see who did what, and who is still building. And perhaps take a look at what could be the future of NFTs.
Let’s jump in!
Nike Earns $185 Million On NFT's
During the big NFT boom last year, many top brands decided to jump on the bandwagon and make a quick buck.
Nike, as I said is always prepped to pivot if it’s advantageous for them.
So they were one of those brands.
And it worked…they made roughly $185 million! Not much compared to their ~$40 billion in annual revenue, but I would never scoff at $185 million.
In fact, they did better than the rest of the top 10 brands combined!
That’s wild!
Now, the question I have, however, is will they keep building?
During this bear market are they still building their NFT branding or did they just jump in and out real quick?
When NFTs come back on the rise, will Nike stay on top of the brand's war? Will NFT collectibles even be popular again? Or will it transition to a new use case of NFTs?
Something with more utility?
Perhaps we’ll see another innovative pivot from Nike. Only time will tell.
Is it an NFT Book Platform or Format?
Speaking of NFTs with utility, check out my latest article on Spatium Stories.
We already have a couple of NFT book platforms out there, minting books, getting funding, and overall killing it. Especially for being in a bear market.
My question is, what exactly are we building?
We are all building on different blockchains. Most blockchains are not compatible with each other, which leaves me with a lingering question.
Are we building fully-fledged digital bookstores like Amazon and Barnes n Noble?
Or are we building a new format for ebooks? Like .epub or .mobi?
My vote is on the latter.
Why?
Because I think that all these different NFT book platforms should be open to the point that anyone else can use their books.
If Spatium Stories wants to offer its users the ability to read books purchased on a different blockchain, we should be able to.
Because ultimately, we want a more open, decentralized form of publishing. We don’t want to recreate the same old squeaky wheel.
Make sure to give the article a read for a deeper dive into these thoughts.
I think that’s it for the day! Short and sweet!
Talk to y’all tomorrow!