On April 22, RTFKT Studios tweeted an ad detailing the new Nike Dunk Genesis NFTs. These new “CryptoKicks” are the first Nike NFT wearables since the sportswear giant bought RTFKT in 2021.
According to RTFKT’s ad, the Nike Dunk NFTs will be compatible with unique skins called “Skin Vials.” Once users load a Skin Vial into their Nike Dunk NFTs, their virtual Dunks get a design created by the RTFKT team. RTFKT says NFT collectors can load thousands of Skin Vials onto any pair of compatible Nike sneaker NFTs.
To kick off this new collection, RTFKT introduced its “EVO X” Skin Vials. These eight “EVO X” vials have a design based on the 20K avatars in RTFKT’s iconic CloneX series.
However, these new RTFKT skins do not remain static. The main reason RTFKT used the word “EVO” was to draw attention to the “evolutionary” nature of the Skin Vials. NFT collectors can “grow” and upgrade their skin vials to unlock rare sneaker designs and “powers” within the RTFKT ecosystem.
By February, anyone who had an RTFKT NFT should have received an MNLTH vault NFT. Those who had their MNLTH vault can now open it to receive a pair of Nike Dunk Genesis CryptoKicks and an EVO X Skin Vial. Interestingly, RTFKT also gave NFT holders another mysterious MNLTH NFT.
Shortly after RTFKT’s announcement, the bottom price of many of its NFTs skyrocketed on OpenSea. Currently, MNLTH NFTs have a floor price of 11 ETH, or about $33,000 each. The “cheapest” CloneX NFTs are now selling for 18.5 ETH (about $55,000).
Shoe giants compete for NFT dominance
As one of the world’s top athletic footwear brands, it’s no surprise that Nike is seeing huge success with its first NFT wearables. That doesn’t mean Nike is the only player in the NFT sneaker category, though. Germany’s Adidas has arguably been even more aggressive in its NFT efforts.
In 2021, Adidas signed a deal with the Bored Ape Yacht Club, gmoney and PIXEL Comic to launch its Adidas Originals NFT collection. Since their launch, these NFTs have continued to appreciate in value. Currently, the bottom price for an Adidas Originals pack is just under 2 ETH on OpenSea (~$6,000).
As Rarity Sniper recently reported, Adidas is now partnering with avatar building site Ready Player Me. This site allows players to design virtual playable characters that can interact with multiple metaverse games. Considering Adidas owns a significant chunk of land in The Sandbox, the partnership with Ready Player Me isn’t all that surprising
While Adidas and Nike are the dominant athletic brands in Web3, Puma is also vying for a place in the NFT market. Anyone who follows Puma’s Twitter account may have noticed that the brand has changed its profile picture to Cool Cat #32. Puma also bought other NFTs from collections such as Lazy Lions and the ENS domain name “puma.eth”