Nike unveils first virtual sneaker release with RTFKT

Nike has unveiled its first virtual sneaker since acquiring RTFKT in late 2021, the digital fashion brand that merges culture and gaming with next generation collectibles.

The Nike CryptoKicks were introduced as the future of sneakers, powered by Skin Vial tech, which allows for multiple iterations of the same shoe. The first design released is the Nike Dunk Genesis, after a mysterious metallic cube non-fungible token called MNLTH NFT was unveiled in January.

RTFKT Studio posted a series of quests on Twitter, which had to be solved to see the contents inside the cube. After the final quest was solved last week, it turns out these were a grail for the virtual sneakers, the design of which is based on the iconic Nike Dunk silhouette. With 8 customisable skins, the sneakers have attracted great interest on Opensea, where they are currently being sold.

Under the Nike Inc. umbrella RTFKT is expected to regularly launch collaborative virtual sneakers, fashion and art. Last February RTFKT unveiled digital works in collaboration with artist Takashi Murakami, with one NFT fetching over 1 million dollars in equivalent crypto currency value.

Virtual fashion on the way to being a 56bn dollar market

Research from Morgan Stanley shows luxury NFTs could grow to be a 56 billion dollar market by 2030 and could see 'dramatically' increased demand thanks to the metaverse.