Sneaker and apparel giant Nike made a significant play towards the metaverse in December when it acquired RTFKT Studios, a firm known for original digital sneakers sold as NFT assets. Today, that alliance bore its first fruit as RTFKT revealed Nike’s first Ethereum NFT sneakers.
The RTFKT x Nike Dunk Genesis CryptoKicks are digital wearable items that are apparently designed for use in metaverse worlds. RTFKT revealed them initially via a teaser video on Twitter, which shows how the look of the digital shoes can be altered via collectible “Skin Vials,” which can be swapped to enable varying styles.
Nike’s first CryptoKicks can be opened through RTFKT’s MNLTH Ethereum NFTs, which were airdroppedairdropped for free to holders of RTFKT’s valuable CloneX profile picture NFTs and other earlier RTFKT NFTs in February. An NFT is type of token that is used to demonstrate ownership over digital assets, such video game items, artwork, or just about anything else online.
RTFKT, together with Nike CryptoKicks, introduce the future of Sneakers, powered by Skin Vial tech
Today’s reveal came following a series of quests, or puzzles, that collectors had to solve before RTFKT launched the website that lets holders open the mysterious NFT vaults. 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.
According to an official FAQ on the RTFKT Discord server, the firm 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.
This is freaking insane. I just opened my #mnlth!! And look what I got! 1. Sneaker 2. Vial 3. Free Mblth2 mint passes
Already, owners of the RTFKT x Nike Dunk Genesis CryptoKicks NFTs are attempting to resell the Ethereum-based digital sneakers on secondary markets. On OpenSea, the sneakers start at a price of about 5 ETH, or over $14,800, as of this writing.
In December 2019, Nike was issued a patent for CryptoKicks, a blockchain-powered system in which digital assets can be paired with a physical product.
When a company like Nike finds someone using its brand without permission, it can ask the courts to order the unauthorized goods to be destroyed. Nike has done this in the past, but its latest trademark lawsuit comes with a twist—the products it wants to "destroy" are NFTs, which are inscribed permanently on the Ethereum blockchain.
The case in question involves Detroit-based StockX, a site that lets people buy and sell used brands, including Nike sneakers. Those sneakers are among its most popu...
However, this new iteration of CryptoKicks is decidedly different in approach. RTFKT’s Discord FAQ describes it as “the revival of Nike CryptoKicks by RTFKT, starting with Evolutive skins.”
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
NFT Revolution
NFTs are provably unique crypto tokens that are quickly becoming increasingly popular among digital artists, gaming companies, and investors. Track the NFT revolution here.
Blockchain-powered mobile soccer game FIFA Rivals will release on June 12 on both iOS and Android, Mythical Games announced Friday, revealing a multi-year licensing agreement with sportswear giant Adidas in the process.
The team-up will integrate Adidas products throughout FIFA Rivals, including digital kits, jerseys, and shoe releases that draw from the brand's soccer heritage. Players will have access to exclusive in-game items and experiences designed around Adidas branding.
"FIFA Rivals is a...
While crypto gaming has long been seen as a key use for blockchain, letting gamers really own and freely trade their unique items and perhaps profit from a game's success, developers are struggling to sustain their games and digital economies.
Some games, like Gunzilla Games’ Off the Grid, have punched through to a broader audience, gaining adoption from top streamers and gamers alike—albeit ahead of full blockchain integration. But many other games and studios building with tokens are strugglin...
Yuga Labs is serious about refocusing on the Bored Ape Yacht Club, the Otherside metaverse game, and related projects.
On Friday, the crypto startup said that it had sold off yet another previously acquired NFT project IP, dumping the Moonbirds property that it purchased just over a year ago.
The buyer is Orange Cap Games, a young gaming startup that builds digital and physical trading card games. The firm's first game, the Pudgy Penguins-themed Vibes TCG, launched on Ethereum layer-2 network Ab...