The NFT strategy from therecord-breaking athlete and brand partner Under Armour looks like a slam dunk.
There’s also a feel-good aspect here: Proceeds benefit organizations dedicated to youth access to sports, an important cause for both Curry and Under Armour.
Other details tapped into the enthusiasm for the history-making basketball event, with 2,974 pairs of virtual kicks minted and priced at $333 each — nods to the total number of three-pointers Curry made throughout his career. Given the extremely limited nature of previous fashion NFTs, the availability of nearly 3,000 units looked positively generous, while the cost wouldn’t have given sneakerheads any reason to pause.
By contrast, owners of the virtual Curry Flow 9 can show them off across different metaverse platforms, including Decentraland, The Sandbox and Gala Games, with players of the latter’s Town Star title able to use them to earn in-game rewards. This cross-platform usability stands out, as most high-profile NFTs are single-platform only. It may be a hint of what’s to come, with NFTs spreading across different virtual worlds.
For many months, skeptics have cast the tech phenomenon as a bubble bound to burst. Gobsmacking sales for exclusive digital products looked exciting, but unsustainable in the long term, while it wasn’t clear what people could do with them once they own them. The buzz around virtual worlds and metaverses, as well as the commerce that may drive them, gives NFTs more context and, perhaps, viability.
But it will take smart strategies and insights into real-world consumers to fuel virtual products beyond the bubble and make them more foundational. Fashion now has one example to study.
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