Like Nintendo, Nike’s NFT team found an innovative solution during a market downturn. Cryptocurrency KOL Giancarlo explains in detail how Nike’s success in the NFT field drew inspiration from Nintendo’s approach.
In 1983, due to a large number of low-quality games being released, game sales dropped by 97%. At this time, Nintendo was trying to promote their NES game console. Retailers were unwilling to work with them, and one mall even said they would attract “unpopular people.” Therefore, Nintendo avoided using any game-related terms in their marketing. They never used the term “video game,” but instead labeled it as an entertainment system. The NES game console was also not referred to as a console, but as a control deck. This strategy was effective, helping the NES game console achieve initial sales in the United States and eventually achieve dominance.
Now, I see a similar situation in the Nike and NFT fields. Nike is actually the first big brand to aggressively enter the NFT field. They applied for the patent “Cryptokicks” in 2019 and acquired RTFKT company in 2021. Now they are further increasing their efforts and launching the SWOOSH project. However, the timing is not good now, and most people have negative emotions towards NFT. Therefore, they avoid using the term “NFT” and use words like account-linked achievements and virtual collectibles. This strategy has been successful, and they have signed cooperation agreements with companies such as Fortnite and EA Sports. Yesterday, Fortnite tweeted about this collaboration, receiving over a million views and almost no negative reactions. All of this looks very magical. 【Original text in English】
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Additional reading: “The Video Game Crash of 1983: How Nintendo Saved the Industry” https://hackernoon.com/the-video-game-crash-of-1983-how-nintendo-saved-the-industry-11cb3b0c7005