Nike (NKE) – Obtain a Class B report from NIKE, Inc. wants to be the benchmark in the sneaker world.
The brand seeks to maintain its leadership at all costs, in the real or virtual world. No wonder the sports equipment manufacturer showed their ambitions when the metaverse became the buzzword.
The metaverse is a virtual world where we are called to interact through avatars and technological devices such as virtual reality headsets. In the metaverse, we should be able to do almost any activity we do in the physical world.
Nike first filed a lawsuit in February against StockX, the Detroit sneaker exchange, which it accused of infringing on its patents by selling non-fungible tokens on its sneakers. The company said StockX was selling unauthorized images of its shoes as NFTs.
CryptoKicks or digital sneakers
In its complaint, Nike also claimed that StockX offers a variety of products that confuse consumers.
The problem here is that in March, StockX pioneered the Vault NFT concept around the combination of physical products and NFT. The collection links to a digital token that users can sell each other real sneakers: users can buy NFTs of the popular sneaker collection backed by a physical pair. Owners can exchange their NFTs for a physical pair of sneakers if they wish.
But only yesterday. Because Nike has just made a big step in the metaverse: the brand and young digital fashion studio RTFKT have just unveiled a new class of sneakers, completely digital. These sneakers are called CryptoKicks.
“RTFKT, in collaboration with Nike CryptoKicks, presents the future of sneakers, powered by Skin Vial technology,” RTFKT recently posted on Twitter. “Welcome to 2052:”
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The CryptoKicks secondary market is booming
RTFKT specializes in making virtual ready-to-wear items, linking each of its products to an NFT. These NFTs are certified and traceable digital blockchain ownership works. Every product sold by RTKFT is available in very limited quantities to create excitement and create a feeling of exclusivity.
CryptoKicks was first offered to members of the RTFKT community. Those with NFT then received a box containing digital sneakers. Each box is associated with an avatar created by RTFKT as part of its Clone-X program, which is a set of 20,000 NFTs representing Japanese-style characters. Some of these avatars sold for more than 18.5 ethers on OpenSea, or nearly $ 55,000.
Nike since November has had a virtual Roblox space (RBLX) – Obtain the Roblox Corp Class A Report. Game The buildings and grounds in Nikeland are inspired by Nike headquarters. It covers detailed arenas for the Roblox community to participate and test their skills in various games such as Tag and The Floor is Lava. Players can also dress up their avatars using Nike products.
Cryptokicks has been very successful to date. Just days after their launch, these digital sneakers now sell on the NFT OpenSea market for nearly 2,285 ether, or $ 6,521.68. This is based on Ether’s current price of $ 2,854.13.
CryptoKicks reactions on Twitter have been mostly positive, which should reassure Nike as it strives to become a sneaker brand targeted by Gen Zers.
“I’m excited for my dunk angle,” one social media user posted.
“People I call it 🔥👀🧬👀,” commented another.
“THE FUTURE NOW 🧪🗿🛸,” wrote another.