Nike Innovation Playbook Shows the Way Forward for NFTs and Digital Goods
#Nike continues to write the innovation playbook with its launch if NIKELAND on Roblox. It has 3 parts. 1 - It creates a representation or image of the Nike brand in-game. (branding benefit)
2 - It allows participants to participate in games and stay active (well, at least a little). (consumer/social benefit)
3 - It provides a digital showroom where you can outfit your avatar with special Nike products (market research + consumer signaling)
It's this third aspect that I am most interested in. Nike gets to:
- learn about their current and future customers (data) - get market feedback on product + designs (leading trends)
It also lets Nike build its own models for how and if digital trends might take off in the physical world.
Nike is becoming more like Disney. I don't like making predictions as a rule, but I do like watching trends and seeing how they may play out.
The one thing Nike is missing is its own consumer access points. Nike does not want to end up like Facebook being beholden to Apple, Google, or Meta long-term.
However... if they are going to align with someone, it will be Apple. Expect Nike-branded Apple AR and VR gear.
With NFTs and virtual goods, 2022 is the year of education for most brands. If you don't have an initiative on the books to learn about NFTs in 2022, it may be time to have a conversation. Forget "doing" next year, but if you aren't learning, then what are you doing?
Also please don't use the word phygital. Just don't :-) lol
