The president's son posted his own version of the ad on Instagram Wednesday with the comment, "There, fixed it for you".
Nike is celebrating the 30th anniversary of its "Just Do It" slogan.
For what it's worth, I occasionally look around the stands during the national anthem and am annoyed when I see guys who don't take their hats off, which I suspect is nearly always about laziness and ignorance, not a protest of anything. Now they've given him an excuse to send out a new smoke screen to help us forget about Russian Federation, rampant corruption and abducted children.
Brian Gordon, CEO of Engine Shop, a sports and entertainment marketing agency, said the ad is provocative but "authentic to who they are and the communities they represent and speak to", including the athletes.
Kaepernick is shown a couple times in the video, including the closing line where he says, "So don't ask if your dreams are insane, ask if they're insane enough".
About halfway through the ad, the former football star, who has been called unpatriotic for kneeling during the national anthem to protest racial inequality, looks at an American flag and says: "Believe in something".
Country singer John Rich tweeted a photo of a pair of Nike socks with the brand's swoosh logo cut off.
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"Don't ask if your dreams are insane, ask if they're insane enough", Kaepernick says at the end of the video.
In announcing the deal, Nike said he was "one of the most inspirational athletes of this generation".
A statement added: "The social justice issues that Colin and other professional athletes have raised deserve our attention and action".
Newton said last season he thought the way Kaepernick has been treated was, "unfair", and when asked his thoughts on the new Nike campaign, Newton doubled down in his support.
There were 2.7 million mentions of Nike over the previous 24 hours, the social media analysis firm Talkwalker said at midday, an increase of 135 percent over the previous week.
Last November Kaepernick filed a grievance against the NFL in which he alleged that the league and franchise owners colluded to keep him from signing with another team.
Some Kaepernick critics took that to mean sacrificing their Nike products. "As for me, I support Colin, I support my brother, I support the stance that he's taking". Over his father's face is the campaign's tagline: "Believe in something". Nike's use of Kaepernick in the "Just Do It" ad seems to affirm that dedication, Holt said, because it will inevitably alienate some customers.