Featured Image Credit: RTFKT/Nike
Topics: Nike, Adidas, Cryptocurrency, Fashion
Jayden Collins
Nike has entered the metaverse with the launch of some pretty pricey virtual sneakers.
If you’re looking to enter the virtual world, these sneakers are a surefire way to look stylish - however, if you want to look fly in the real world, you’re best spending your money elsewhere.
The footwear brand launched the Nike Dunk Genesis Cryptokicks, a range of 20,000 sneakers that can be bought as NFTs.
And people are going nuts for them.
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More than $14 million has been spent on the digital kicks, with crypto holders spending between $10,500 and $12,500 for a pair.
However, rare skins that can be bought for a minimum of $3,500 can be applied to the shoe to really enhance the value.
One pair of virtual Nikes went for $186,000, the equivalent of 45 ether.
If you thought that was shocking, wait until you hear about the sneaker skin, called Alien, that went for a whopping $630,000 two days ago.
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The shoes are pretty fly, however, you’d think with the amount of money being spent that Nike would at least be sending through a physical version to the owners.
Nope, these are strictly digital and represents Nike's gamble on virtual fashion as the metaverse space expands.
Not to worry though, owners can see how they’d look in their digital goods through a Snapchat filter.
The collection was made in collaboration with RTFKT, a virtual sneaker designer that was acquired last year by Nike.
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RTFKT says owners of the virtual shoes will be able to do online quests to evolve the skins of their kicks and make them more valuable.
The digital fashion space is growing rapidly and Nike isn't even the first sneaker brand to delve into the metaverse.
In December, Adidas dropped 30,0000 ‘Into The Metaverse’ NFTs, a collaboration with Bored Ape Yacht Club.
However, in contrast to Nike’s drop, ownership of the NFT promised a release of both virtual and real-life clothing.
Adidas has also bought land in metaverse Sandbox, which is currently in beta.
With the amount of money being spent on these virtual shoes, let’s hope no one can jump anyone for their kicks in the metaverse.
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Unfortunately, some NFT holders have recently been the subject of theft.
Earlier this week, the modern-day equivalent of an art heist took place with $3.5 million worth of Bored Ape NFTs stolen in an Instagram hack.
The Bored Ape Yacht Club (BAYC) Instagram account was infiltrated on Monday (April 25) leading to 134 NFTs transferred from the wallets of several users.