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|| THIS WEEK IN COLLECTIBLES NEWS ||

👟 New “Nike DNs” Headline Air Max Day 2024

📊 Nike Strategically Reducing Air Max Production

🌟 Nike Air Mags Sell For $82K In Sotheby's Latest Collectibles Auction

🎮 Nike And Fortnite Partner On Virtual Air Maxes And Skins

👟 New “Nike DNs” Headline Air Max Day 2024

Nike's annual "Air Max Day" holiday was March 26 and their big announcement this year is the release of a brand new shoe, the Nike DN.

The Nike DN has new dynamic air technology, comes in several different colorways, and has been the biggest focus of Nike's Air Max Day marketing campaigns.

Air Max Day doesn't always include a new shoe from Nike, which makes this launch have special significance.

The Air Max line of sneakers have historically been some of the best selling for decades of Nike history. In a world where we get used to hyped releases, shoe storytelling, and cultural collaborations, the focus of the new DNs is technology - will that be a strong enough selling point for sneaker consumers?

📊 Nike Strategically Reducing Air Max Production

Nike is going to produce fewer Air Force 1s, which acknowledges the challenges of the oversupply of sneakers.

On their latest earnings call, Nike said that they will be producing fewer Air Force 1s for a variety of reasons, such as protecting the sneaker's long term brand equity and allowing room for new designs.

Over the last year, Nike has faced trouble even selling Air Jordan 1 retros, which some have pointed out as people developing fatigue towards Nike products. Air Force 1s aren't necessarily always a "hyped" product, but we're in a competitive sneaker climate where Nike is starting to pay more attention to oversupply and ensuring they can better forecast demand.

On a whole Nike is doing fine but it seems like they're paying closer and closer attention to supply and demand as margins get tight, supply chains evolve, and consumer preferences change.

🌟 Nike Air Mags Sell For $82K In Sotheby's Latest Collectibles Auction

In Sotheby’s latest auction for sneakers and other collectibles, a pair of Nike MAGs sold for $82K, which is an increase from the $52K the pair fetched at Heritage Auctions in 2017. The Nike MAGs are a rare pair of concept sneakers created as a replica of the shoes featured in the film Back To The Future, Part 2.

Other shoes in the auction include limited Air Jordan 1s made for legendary Parisian sneaker store Colette, a rare Chanel x Reebok Instapump Fury collab, and a pair of Fragment x Air Jordan 1s signed by Hiroshi Fujiwara.

Regardless of macroeconomic conditions and the sneaker resale climate, the market for high-end sneakers continues to prosper. The demand of wealthier buyers remains relatively inelastic when dealing with certain sneakers and collectibles that are essentially culturally relevant artifacts at this point.

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🎮 Nike And Fortnite Partner On Virtual Air Maxes And Skins

Nike worked together with Fortnite for Air Max Day 2024 to build a virtual experience called "Airphoria Vol. 2: Enter the DN Dimension."

It's an immersive mini-game experience within Fortnite where people play as a character who goes around collecting four Air Chambers to activate the new sneaker grail, the recently released Air Max DN. People can buy new Nike themed skins in the Fortnite shop, which also includes the Air Max DN.

This is actually the second "Airphoria" experience created by Nike on Fortnite, as the two companies have a multi-year relationship. Nike is still relevant to younger audiences, but this is a good way to reinforce the brand's appeal within the youth, particularly young gamers.

Right now, it feels more like a cool digital sneaker product for gamers but maybe in the future these physical assets could also link to physical sneakers at some point.

Check Out the Neustreet X Podcast

🎧 Evan Parker - Mantel

⚫ Building a New Space for Collectors and Collectibles

Evan Parker is the CEO of Mantel, a community for collectors. Previously, Evan was the SVP General Manager of The Athletic, VP Head of Content at NASCAR, and Director of Sports & Entertainment Marketing at PR Firm Edelman.

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This newsletter was written with contributions from Neustreet Editor-in-Chief Tony McGuire; art generated by Logan Fulcher.