Sneaker and apparel giant Nike and RTFKT studio revealed Nike’s first Ethereum NFT sneakers. Naturally, Nike’s first sneaker NFT is indeed a Dunk Low sneaker, the brand’s arguably most hyped sneaker at the moment.
Nike made a big move towards the metaverse in December 2021 when it acquired RTFKT Studios, a company known for original digital sneakers sold as NFT assets. Finally, that alliance bore its first fruit.
The RTFKT x Nike Dunk Genesis CryptoKicks are digital wearable items that are designed for use in the metaverse. RTFKT revealed them initially via a teaser video on Twitter, which shows how the look of the digital shoes can be customized via collectible Skin Vials, designed by RTFKT’s community of artists and collaborators.
CryptoKicks can be opened through RTFKT’s MNLTH Ethereum NFTs, which were airdropped ****for free to holders of RTFKT’s valuable CloneX profile picture NFTs and other earlier RTFKT NFTs in February 2022. To acquire a pair of Nike Dunk Genesis collectors had to solve a series of puzzles. As some holders have shared via social media, the MNLTH vaults contain a pair of CryptoKicks, a single Skin Vial, and a second MNLTH vault.
The company will launch a quest series to unlock the MNLTH 2 vaults later this year. Each pair of CryptoKicks will also feature an “evolution path” that enables them to be evolved in some way.
The owners of the RTFKT x Nike Dunk Genesis CryptoKicks NFTs are already trying to resell the Ethereum-based digital sneakers on secondary markets. On OpenSea, the sneakers start at a price of about 2 ETH, or over $6,000.
In December 2019, Nike issued a patent for CryptoKicks, a blockchain-powered system in which digital assets can be paired with a physical product. However, this version of CryptoKicks is completely different. RTFKT’s Discord FAQ describes it as “the revival of Nike CryptoKicks by RTFKT, starting with Evolutive skins.”