"So don't ask if your dreams are crazy, ask if they're crazy enough," the ad says.
VIDEO: Nike releases new commercial narrated by Colin Kaepernick
Nike releases new commercial narrated by Colin Kaepernick
It shows the attainment of impossible dreams - Alphonso Davies, a refugee from Ghana who becomes the hero of the Canadian World Cup team. LeBron James, the child of a teenage mom who becomes a basketball legend and philanthropist. And, everyday people overcoming adversity, including that of "his own," not being employed in the NFL.
Kaepernick's ad features the slogan, "Believe in something, even if it means sacrificing everything."
TIMELINE: Looking back at Colin Kaepernick's transformation from football star to social justice advocate
Looking back at Colin Kaepernick's transformation from football star to social justice advocate
When asked to comment on the controversy during practice on Wednesday, San Francisco 49ers head coach Kyle Shanahan said, "I don't have a reaction to anything that's happened on this planet the last four days."
It's worth noting Kaepernick never actually played for Shanahan.
VIDEO: Bay Area Army veteran who encouraged Kaepernick to take a knee addresses new Nike ad
Bay Area Army veteran who encouraged Kap to take a knee addresses new Nike ad
In the meantime, President Donald Trump attacked the Nike deal again, tweeting, "Nike is getting absolutely killed with anger and boycotts. I wonder if they had any idea that it would be this way"
There have been protests, and Nike shares did drop three percent Tuesday, but rebounded by a half-percent Wednesday. Overall, the company is up 28 percent this year.
On Twitter, the reaction has been across the board.
Check out some of the comments below, and let us know what you think here.
Get the latest on former 49er quarterback Colin Kaepernick here.