✨ What Big Plans Does Nike Have for .SWOOSH in 2024?

🎣 w3.catch-of-the-week cw3

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Quinn Wilhelm & Vicktoria Klich
January 19, 2024

GMGM and welcome to the 🎣 w3.catch-of-the-week, the newsletter where we simplify Web3 use cases, making them as easy to understand as explaining why Bitcoin is more than just a bubble of speculation.

And while many of us (+ the institutions) are celebrating the recent Bitcoin ETF news, some CEOs of asset management companies ahem ✨JPMorgan✨ ahem don’t seem to get it.

During the WEF2024 in Davos Jamie Dimon literally said that he thinks, once the 21 million Bitcoin got mined “Satoshi shows up, laughs darkly and all Bitcoins will be erased”.

The opinions of the asset managers regarding Crypto, DeFi & Web3 seem to be far apart because in contrast to JPMorgan, VanEck has made the following announcement:

But now enough about the central entities, let's start with some use cases 😎

😍 .SWOOSH Outlook 2024
📲 Solana Saga Chapter 2
💰 The biggest VC Crypto Funding
🏢 Join our second Open House Day
📚 Read Write Earn

👟 What’s next for Nikes’ .SWOOSH?

You've probably heard of Nike's Web3 loyalty platform, .SWOOSH. But for those who have missed it, here's the basic outline: it's Nike's co-creation platform that combines digital community engagement with exclusive virtual and physical products.

After the "Month of Giving" came to an end, unfortunately, I was left empty-handed 😭, the .Swoosh team published an update on what's next 👀.

They started with a quick Recap of 2023:

  • SWOOSH IDs: Over 379,000 non-transferable NFTs minted.

  • Creative Engagement: The "Your Force One" contest empowered users to design virtual sneakers.

  • Community Driven Events: Nike conducted 10 workshops, released signature collections like “OurForce 1”, and launched "Airphoria" in Fortnite.

  • Physical Products for Members: Exclusive items like the limited edition TINJA sneaker were offered to active .SWOOSH members.

Nike's Strategy: 2023 for Nike was a year of exploration in merging the digital and physical realms through .SWOOSH.

Their mantra: “It’s more about the joy of collecting — of being a true fan — not just a transaction.”

Strategic Moves for 2024:

  • In-Game Wearables: Introducing virtual wearables linked to real-world Nike apparel and footwear.

  • Membership Benefits: Expansion of exclusive physical product offerings for .SWOOSH members.

  • Enhanced Collectible Experience: Members can now transfer their collectibles to personal wallets, enabling trading on external marketplaces.

What’s most important for them?

👉 Product Creation & Storytelling

Vicky’s thoughts 💅

This strategic direction shows Nike's commitment to integrating virtual products with real-world value, emphasizing the joy of collecting and expressing oneself through digital and physical Nike experiences.

It seems like they’ve read the recent Roblox Report.

📲 Solana Saga continues - Chapter 2

Solana Mobile is opening a new chapter in its journey with the announcement of presales for the ✨Saga 2✨, the successor to its groundbreaking Web3 smartphone, Saga.

Saga 1 - A Retrospective:

  • Launched at $1,000, the Saga smartphone was an experiment in blending crypto trading and NFT collecting with mobile technology.

  • Despite initial market struggles, a sudden surge in demand occurred when it was discovered that each phone came with $BONK tokens, driving sales to a sell-out.

  • The Saga's value soared in secondary markets, with factory-sealed devices fetching bids of up to $3,200 on eBay.

Introducing Saga 2:

  • Continuing the legacy, Saga 2 will feature an onboard crypto wallet, custom Android software, and a dApp store.

  • Promising a more affordable price point and new hardware, the phone is up for presale at $450 (early bird price).

  • Pre-orders are open now, with delivery expected in 2025.

Partnerships and Sponsorships:

  • Saga 2 launches with support from partners like Backpack, Mad Lads, Tensor, Phantom, Solflare, Magic Eden, and DRiP.

  • These collaborations hint at an ecosystem of rewards and incentives for users.

Community Reaction and Incentives:

  • The announcement has been met with enthusiasm, but mixed with some skepticism due to the long lead time and preorder refund policy (there will be no refund option).

  • A referral scheme is in place, offering rewards for signing up friends.

  • Special incentives include the chance to win a Mad Lad for those who connect with the Backpack wallet.

Future Outlook:

  • Solana Mobile aims to make Web3 more affordable and globally accessible.

  • The new device, with its anticipated airdrops and rewards, is set to build on the success of Saga, offering a new level of engagement.

Final Thoughts:

As Solana Mobile steps forward with Saga 2, it represents an evolving confluence of physical products and digital assets, a trend that is increasingly shaping the future of tech and crypto. I am curious to see whether the Solana team can achieve a similar success to the first version.

💵 The Top 5 VC Crypto Investments in 2023

Today I would like to introduce you to the crypto projects that received the most funding during the last year.

Wormhole: Wormhole recently secured a substantial $225 million in funding, catapulting the project to a $2.5 billion valuation.

Wormhole is pioneering blockchain communication, serving as the central messaging protocol for over 30 chains, at a 242.5 billion valuation. It is facilitating over $35 billion in transfers, and is now expanding with Wormhole Labs to extend its technological lead in the Web3 infrastructure space.

Line Next: With a $140 million funding injection from Crescendo Equity Partners, Line's Web3 division is ready to launch its official NFT platform and mobile app, which includes games, AI avatars, and global digital assets, powered by its Finschia blockchain.

Blockstream: A leader in Bitcoin infrastructure, has secured $125 million in funding to expand its Bitcoin mining colocation services.

Blockstream is poised to meet increasing demand for its institutional hosting services, further develop renewable energy-based mining products, and advance its enterprise Bitcoin miner amid capacity constraints in the industry.

LayerZero: In 2023, blockchain interoperability pioneer LayerZero reached a $3 billion valuation with a $120m Series B funding to expand its operations in the Asia-Pacific region and strengthen its infrastructure that enables dApps to work seamlessly across multiple blockchains.

Worldcoin: Co-founded by OpenAI's CEO Sam Altman, Worldcoin has raised $115 million in its Series C, led by Blockchain Capital, to roll out proof of humanity.

Yesterday, we invited our Community to co-work together with us in the w3.hub.

Everyone, who is interested in becoming a w3.hub family member was able to join and spend the day at our beautiful space.

And because we were so overwhelmed with the registrations we decided to just do it again.

Save the date: 1st of February 2024.

📚 Read Write Own

I learn best from reading. That’s why I am reading myself through the most important literature in Web3. One of the next most anticipated pieces hat I am waiting for: Chris Dixons’ (partner at a16z) “Read, Write, Own”.

And apparently it’s not just a book - it’s a whole experience.

  • A Dynamic NFT, unique to each holder.

  • Exclusive video content from the author.

  • Other digital experiences linked to the book's themes.

Get yourself some Blockmagazins :)

Vicky & Marvin are Web3-obsessed. That's why they host a weekly podcast featuring updates and cool stuff.

Don't miss out on any news, updates, & vibes anymore. Discord is so yesterday. Let's meet on Telegram.

How do newsletters actually work in Web3? Find out for yourself.