- Through its NFT / web3 branch, RTFKT, Nike officially unveiled its first “native web3 sneaker.”
- The market leader in sneakers is demonstrating that the audience is rigid and worldwide by continuing to spend in developing its infrastructure in domains relating to emerging technology and the web 3.
- Nike’s announcement is less about price and more about accessibility because Nike will only ship its web3 sneakers to U.S.-based addresses.
Among companies who entered the NFT industry with a longer-time perspective, Nike’s acquisition of RTFKT last year has primarily functioned as the most successful case study from a traditional brand using an NFT platform.
In the thick of the NFT bull market’s mania, the transaction happened a year ago. After the acquisition, the company introduced its own specific web3 platform. Swoosh was shown a sustained commitment to playing in the web3 sandbox last month.
Nike has primarily let RTFKT run initiatives on its own, but it has generally been a huge success. Some of what can be anticipated are described in the announcement Twitter thread from RTFKT, which was published. These include a “walk-to-earn” feature, usefulness through authenticity, app connectivity, and more.
Our next-gen innovation drop— RTFKT (@RTFKT) December 5, 2022
Cryptokicks iRL 👟⚡️
1st native web3 sneaker
Combining decades of @Nike tech 👨🔬
& RTFKT vision to merge worlds 🌎🌐
Details & FAQ: https://t.co/0I5cwrd8bb pic.twitter.com/A1jP8xg0NZ
The thread ends on a crucial note that has generated a lot of controversies:
“The product can ONLY be sent to the US due to advanced technology and product regulation.”
A lot of criticism has been leveled at another brand with web3 visions and web2 execution due to the lack of clarity and lack of forethought in holding off on disclosing this important data until after outside U.S. money has been committed to the project. MONOLITH sales today are currently being recorded for less than 0.5 ETH, down significantly from recent norms north of 1.5 ETH.
Nike officially unveiled its first native web3 sneaker. The market is rigorous and worldwide, as evidenced by the industry leader in the sneaker game’s continued investment in developing its infrastructure in domains relating to emerging technologies and web 3.