Nike recently unveiled its first CryptoKicks on Ethereum in collaboration with RTFKT studios, the NFT company it purchased in 2021. Nike Dunk Genesis Cryptokicks shoes are made up of 20,000 non-fungible tokens (NFTs) that may be used in the metaverse. Avatars can be worn in virtual space by people who have them in the metaverse. According to sources, the sneakers are now selling for roughly 2.5 ETH ($7,500) to 3 ETH ($9000).
RTFKT announced the launch in a tweet on April 23, but did not specify if NFT owners would also receive a physical pair of the shoes. Holders can, however, use a Snapchat filter to show off their shoes in Augmented Reality. RTFKT also mentioned that the skins might evolve by completing certain online objectives. There are currently no details about the quests.
RTFKT, together with Nike CryptoKicks, introduce the future of Sneakers, powered by Skin Vial tech
Welcome to 2052 : 🌐👟🧪 pic.twitter.com/7449L79Bf4
— RTFKT Studios (@RTFKTstudios) April 22, 2022
Additionally, the “Skin Vials” collectable, which costs at least 0.8 ETH ($2,500), can be used to change the aesthetic of the shoes. Each vial’s skin rarity varies, and some of the rarest skins command greater prices. One CryptoKick with a rare skin vial sold for 45 ETH ($133,000), while the Alien vial, which was the most uncommon in the collection, sold for 150 ETH ($449,500).
CloneX NFTs, which were released last year, were also created by the company. Holders of CloneX received free virtual crates of MNLTH collectibles in February. The contents of these boxes have recently been confirmed to be CryptoKicks.
Fashion brands bring their rivalry into the metaverse
Nike isn’t the first brand of sneakers to bet on the metaverse. In 2021, Adidas, a close competitor, collaborated with Bored Apes to offer a collection of 30,000 NFTs. The NFT collection ‘Into the Metaverse’ is presently available for purchase on OpenSea for $1.938 ETH ($5,813). The owner of the NFT will receive both virtual and real-life apparel in this situation.
Both companies have invested in virtual environments as a result of their rivalry. Adidas recently purchased land in the gaming-oriented Sandbox, while Nike operates a virtual store on Roblox.
Both companies are instances of the fashion and garment industry‘s growing interest in the metaverse. Dolce & Gabbana, Gucci, and Burberry are just a few of the brands that have launched metaverse projects ranging from NFTs to blockchain-based virtual storefronts.
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