Nike’s acquisition, RTFKT, is all set to turn the non-fungible token (NFT) sneakers from its Dunk collection into physical, real-world footwear.
In a recent announcement on X (formerly Twitter), RTFKT has released details regarding the upcoming forging event — a limited-time opportunity during which eligible NFT holders will be able to redeem their tokens for limited, made-to-order physical sneakers.
Between October 18 and October 30, 2023, holders of RTFKT x Nike Dunk Genesis digital collectibles will gain access to an exclusive microsite — yet to be unveiled — where they can claim their physical sneakers.
Holders can purchase up to five pairs of sneakers and select from three different colorway limited editions. Access to these options depends on whether they own the RTFKT x Nike Dunk Genesis or Clone X digital collectible.
To take part in the Forging event, holders will need a minimum of $222, equivalent in Ethereum (ETH), and an additional amount to cover gas fees for each purchase. All colorways will be priced equally.
Following the completion of the forging event, Nike will begin producing the physical sneakers, with an expected delivery date set for June 2024.
These physical sneakers will come equipped with RTFKT WM NFC Chips on the back heel, just above the sole. Owners can scan the NFC chips to establish a direct link to their digital collectibles.
Among the limited-edition sneakers, one will also serve as the inaugural release of the first-ever RTFKT x Nike sneaker accessible to the public. This special edition will make its debut at ComplexCon, a festival that brings together renowned brands and artists for two days dedicated to sneakers, art, food, music, inspiration, and more.
This development marks another milestone in Nike’s RTFKT roadmap, as the brand continues to revolutionize the sports fashion and sneaker sector.
The journey began in February 2022 when Nike launched the “MNLTH” NFT, featuring a mysterious metallic box with a surprise inside. The revelation turned out to be the digital Nike Dunk sneakers.
According to OpenSea statistics, the MNLTH NFT collection currently boasts a total volume of 57,161 ETH, equivalent to over $90 million, with a floor price of 0.3 ETH, approximately $490.
As part of their ongoing initiatives, Nike and RTFKT also introduced a hoodie NFT collection in June 2022 and partnered with RIMOWA in October 2022 to launch two NFTs inspired by luggage themes, further solidifying their presence in the expanding NFT landscape.
